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.
Those buys were designed to add to its product pipeline, he said, adding that Teleflex would also look for "share enhancers" for its existing businesses – a niche the LMA deal seems to fulfill.
"We do expect and believe that we can find some other acquisitions within the confines of our current franchises, which I’ll describe as sort of ‘share enhancers’ that give us a much firmer position in some of our existing franchises," Smith said during the July 31 call.
Zoll establishes Japanese subsidiary
Zoll Medical, which was acquired by Asahi Kasei in for $YY billion in YY, said it’s launching a Japanese subsidiary, Asahi Kasei Zoll Medical Corp., effective Nov. 5.
The new Tokyo-based subsidiary will be led by president Seiji Sakano, reporting Zoll CEO Richard Packer.
"This subsidiary, headed by Dr. Sakano, who previously held the position of general manager of Asahi Kasei’s Advanced Medical Device Center, represents a solid opportunity to enter a high-growth market,"Packer said in prepared remarks. "AZM will leverage the resources of the Asahi Kasei Group to facilitate these developments for the swift expansion of Zoll’s business in Japan."
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AirStrip, Spine Restoration land $15M
AirStrip Technologies and its suite of apps to allow physicians real-time access to patient vital signs and other clinical data, landed more than $10 million from the Wellcome Trust, CEO Alan Portela told Xconomy. AirStrip, which last week sued mVisum for patent infringement, won FDA clearance in 2010 and CE Mark approval in January for its remote monitoring solution.
Austin, Texas-based Spine Restoration said it closed a $5 million round it plans to use to fund the biologic license application submission and early commercialization for its Biostat tissue sealing system. The funding includes a $3 million equity round from current investors Austin Ventures, Santé Ventures and MB Venture Partners, plus a $2 million in debt from Comerica Bank.
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Cambridge Heart wins debt reprieve
Cambridge Heart (NSDQ:CAMH) said it won a reprieve from creditors for its 8% secured convertible promissory notes in return for issuing another $300,000 worth of debt. The deal called for Cambridge Heart to make interest payment Oct. 1 and Jan. 1, 2013, but creditors agreed to forego those payments until March 31, 2013, or until the medical device company has enough cash to make the payment or goes bankrupt.
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GPOs: Premier inks deals for used surgical suites
Premier Healthcare Alliance said it struck deals with Steris (NYSE:STE), Future Health Concepts, Heartland Medical Sales & Services, Metropolitan Medical Services of NC and World Medical Equipment for used surgical suites.
Premier also said it inked a deal with Designs For Vision, Integra Luxtex, SheerVision and Sunoptic Technologies for surgical headlights.
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