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Teleflex Signs Definitive Agreement to Sell OEM Orthopedics Business for $45.2 Million

Teleflex entered into a definitive agreement to sell its OEM orthopaedics business to Tecomet for US $45.2MM in cash.

The Teleflex Medical OEM orthopedics business includes the Beere Medical and SMD brand product lines. Beere Medical offers one of the world's largest collections of custom surgical instruments used for orthopedic and spinal procedures. SMD is a market leader in micro-machined products ranging from simple components to complex devices. Core capabilities include implant systems (spinal, small bone, dental), mono- and poly-axial screws, flat or anatomic plates, straight or pre-bent rods, connectors and implant insertion instruments. In 2011, the OEM orthopaedic business generated revenue of ~$36MM.

The transaction is expected to close in 3Q12. Upon completion of the transaction, the Teleflex Medical OEM division will fully focus on expanding its Deknatel and TFX OEM brands, none of which are impacted by today's announcement. The OEM division holds global leadership positions in custom extrusion, catheters, medical devices, sutures, and performance fibers. (Source: Teleflex Incorporated)