M&As this week: Teleflex, Alpha Imaging
US-based company Teleflex and its subsidiaries Teleflex Urology Limited and Naples Merger Sub Inc have signed a definitive agreement to acquire NeoTract Inc.
US-based company Teleflex and its subsidiaries Teleflex Urology Limited and Naples Merger Sub Inc have signed a definitive agreement to acquire NeoTract Inc.
Medical device firm NeoTract Inc is also located in the US.
The purchase consideration for the acquisition is agreed to be $1.1bn, of which $725m will be paid upfront at completion and the remaining will be based on the achievement of certain sales-related milestones until the end of 2020.
"The acquisition is also expected to help enhance the acquirer company’s diagnostic imaging equipment sales and service capabilities in the Mid-Atlantic region."
Teleflex expects the acquisition to expand its urological solutions portfolio.
Alpha Imaging LLC has acquired Medical Imaging Systems Inc with the aim of expanding into the New England states. The acquisition is also expected to help enhance the acquirer company’s diagnostic imaging equipment sales and service capabilities in the Mid-Atlantic region.
The acquirer company is a medical imaging equipment provider, while the target company is a medical device company.