Teleflex Incorporated (NYSE:TFX) entered into a definitive agreement to acquire Standard Bariatrics, Inc. for $300 million on August 22, 2022. Teleflex will acquire Standard Bariatrics for an upfront cash payment of $170 million at closing, with additional consideration of up to $130 million payable upon the achievement of certain commercial milestones. Teleflex plans to finance the acquisition at closing through borrowings under its revolving credit facility. The acquisition is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed early in the fourth quarter of 2022. The transaction is expected to be accretive to TeleflexÆs revenue growth and also enhance our gross margin profile over time. Piper Sandler & Co. acted as Financial advisor to seller.
Teleflex Incorporated (NYSE:TFX) completed the acquisition of Standard Bariatrics, Inc. on September 27, 2022. The acquisition was financed using borrowings under the Teleflex's revolving credit facility and cash on hand.