Teleflex, a Pennsylvania-based medical technologies provider, has completed the acquisition of Minnesota-based medical device firm Vascular Solutions for $1bn.
The companies have entered into a definitive agreement in December last year, under the terms of which Teleflex would purchase all the issued and outstanding shares of Vascular Solutions common stock priced at $56.00 per share, in a cash-based transaction.
Vascular Solutions focuses on developing clinical solutions for minimally invasive coronary and peripheral vascular procedures.
The firm's range of 90 proprietary products and services are sold to interventional cardiologists, interventional radiologists, electrophysiologists and vein specialists via its direct US sales force and international independent distributor network.
The transaction is expected to bolster Teleflex’s vascular and interventional businesses through its entry into the coronary and peripheral vascular market.
The combined company will provide more than 150 cardiac, vascular, and interventional access products.
It is also anticipated that the acqusition will facilitate cross-portfolio selling opportunities to the customer bases of both the companies.
Teleflex intends to leverage Vascular Solutions' pipeline of new products that address complex interventions, radial artery catheterisations and embolisation procedures for better patient and provider safety.
The portfolio of brands by Teleflex include Arrow, Deknatel, Hudson RCI, LMA, Pilling, Rusch and Weck.
It offers surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care in addition to the vascular and interventional access.
It is estimated that the transaction will generate synergies of between $40m and $45m by fiscal year 2019.