Teleflex closes $276M LMA buyout | Wall Street Beat

October 24, 2012 by MassDevice staff

Teleflex closes its $276 million acquisition of Singapore-based LMA and its surgical masks business. Wall Street Beat

Teleflex (NYSE:TFX) said it's closed the $276 buyout of surgical mask maker LMA International.

The deal brings Singapore-based LMA's branded laryngeal mask supraglottic airway and its Intavent Direct Ltd. businesses under the Teleflex umbrella.

"These acquisitions will be complementary to Teleflex's current anesthesia and respiratory businesses, creating a stronger, more diversified business segment with more than $530 million in combined annual sales," chairman, president and CEO Benson Smith said when the deal was announced in August. "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."

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At the time Teleflex also said that the deal is expected to add 3¢-4¢ to its adjusted earnings per share during fiscal 2012 and 35¢-40¢ in fiscal 2013.

"From a longer-term perspective, getting a more robust product pipeline is just an important gap that we need to fill," Smith told analysts during a conference call, citing Teleflex's $80 million buyout of Semprus BioSciences in June and a $15 million deal for Hotspur in July.