Teleflex Signs Definitive Agreement to Sell OEM Orthopedics Business for $45.2 Million (press release)
Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technology products, today announced that it has entered into a definitive agreement to sell its OEM orthopedics business to Tecomet for $45.2 million in cash. Financing for the transaction was arranged by Charlesbank Capital Partners, the majority owner of Tecomet.
“The decision to divest the OEM orthopedics business is consistent with our strategy to focus on our branded products, invest in late-stage innovative technologies to support our long-term growth, and expand both our gross and operating margins”
"The decision to divest the OEM orthopedics business is consistent with our strategy to focus on our branded products, invest in late-stage innovative technologies to support our long-term growth, and expand both our gross and operating margins," stated Benson F. Smith, Chairman, President and Chief Executive Officer. "The proceeds from the divestiture of this business, along with our ability to continue to generate cash from operations, will enable us to continue to execute our strategic plan for future gr...
