Teleflex (NYSE:TFX) announced today that it completed its acquisition of Standard Bariatrics and its powered stapling technology.
Wayne, Pennsylvania–based Teleflex announced its acquisition of Cincinnati-based Standard Bariatrics last month.
The definitive agreement included a $170 million price for the bariatric surgery technology developer at closing. Teleflex could pay up to an additional $130 million upon the achievement of certain commercial milestones.
According to a news release, the acquisition won’t contribute meaningfully to Teleflex’s 2022 revenue. The company expects it to be approximately 10¢ dilutive to adjusted earnings per share.
In 2023, Teleflex expects the transaction to contribute between $30 million and $35 million in revenue. Teleflex expects it to be approximately 10¢ to 15¢ dilutive in adjusted EPS. It expects it to be accretive to revenue growth and adjusted EPS thereafter.
Standard Bariatrics designed its Titan SGS surgical stapler for an anatomy-based approach to sleeve gastrectomy. The anatomy-based approach of surgical stapling helps surgeons achieve more consistent and symmetrical gastric sleeve pouch anatomy in sleeve gastrectomy procedures. It features a 23 cm continuous staple line to allow surgeons to plan and place staples in one firing.
Titan SGS was also recently named as one of the most innovative medical devices of 2022 by the Galien Foundation’s Prix Galien USA awards.