Teleflex Incorporated has entered into a definitive agreement to acquire all the assets of LMA International for S$343.5m ($276m) in cash.
LMA manufactures airway management devices, including the Visualization and Atomization ranges, which are used in anesthesia and emergency care units.
Teleflex Incorporated chairman, president and CEO Benson Smith said the acquisitions will complement its current anesthesia and respiratory businesses, creating a stronger business with more than $530m in combined annual sales.
“The addition of these businesses significantly strengthens and expands our global anesthesia product portfolio, providing opportunities with respect to key clinical U.S. and international call points, while also further strengthening our GPO relationships,” Smith said.
The transaction, which is expected to be closed during the fourth quarter of 2012, is subject to LMA shareholder approval, regulatory approvals and other customary closing conditions.
In separate transaction, Teleflex also signed a definitive agreement with the shareholders of Intavent Direct and affiliates to acquire the LMA-branded laryngeal mask supraglottic airway business and certain other products in the UK, Ireland and Channel Islands.
Excluding non-recurring purchase accounting items and other acquisition and integration related costs, the transactions are expected to accretive Teleflex’s adjusted earnings per share by approximately $0.03 to $0.04 in fiscal year 2012 and $0.35 to $0.40 in fiscal year 2013.
