Teleflex paid 30.2¢ apiece for the roughly 28.5 million shares in Pyng, which makes intraosseous infusion technology, pelvic stabilization & emergency tourniquet devices. Pyng shareholders approved the takeover last week. The Supreme Court of British Columbia approved the deal March 29, the companies said.
“We are pleased to be able to announce the acquisition of Pyng by Teleflex Medical as the successful outcome of our review of strategic alternatives for the company. Pyng has a highly innovative portfolio of proprietary emergency medical products. Given the capital and marketing expertise required to fully exploit these products, we believe this is an attractive result for our shareholders and that Teleflex will be able to achieve significant market potential for Pyng’s products,” chairman Ronald Blanck said in prepared remarks when the deal was announced in February.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.