Teleflex (NYSE:TFX) got in early with InnoLap Surgical, nabbing the Israeli startup just about 1 year after it was founded. The companies didn’t disclose the terms of the acquisition.
InnoLap is an early-stage microlaparoscopy company, developing platforms for scarless laparoscopic procedures, according to a press release. InnoLap’s technology requires smaller incision diameters, which means patients barely even need stitches following surgery.
"We are very pleased about this transaction with such a global leader as Teleflex," InnoLap co-founder Yoni Epstein said in prepared remarks. "We identified Teleflex as a potential partner very early in the process and understood their interest and strategic activity in the field of microlaparoscopy."
Eppstein and partner Dr. Igor Igov launched InnoLap in August 2012. Teleflex acquired the InnoLap from the Trendlines Group, a portfolio company.
TFX shares were modestly up today, trading at a 0.2% increase at $82.44 as of about 1 p.m.
