Teleflex Completes Acquisition of Palette Life Sciences
10 Outubro 2023 - 6:00PM
Teleflex Incorporated (NYSE:TFX), a leading global provider of
medical technologies, today announced that it has completed the
previously announced acquisition of Palette Life Sciences AB. The
acquisition adds Barrigel®, a biodegradable sculptable rectal
spacer, to Teleflex’s Interventional Urology portfolio. Barrigel®
is a Non-Animal Stabilized Hyaluronic Acid (NASHA) spacer designed
to reduce radiation delivered to the rectum during prostate cancer
radiation therapy, while increasing tumor control and patient
quality of life.1 The Palette Life Sciences portfolio also includes
Deflux® and Solesta®, which are NASHA based tissue bulking agents
designed to treat pediatric vesicoureteral reflux and fecal
incontinence, respectively.
On July 26, Teleflex announced its entry into a definitive
agreement to acquire Palette. Under the terms of the agreement,
Teleflex acquired Palette for an upfront cash payment of $600
million at closing, with additional consideration of up to $50
million upon the achievement of certain commercial milestones.
On a standalone basis, we continue to expect Palette net revenue
to be approximately $56 million for 2023. The acquisition is
expected to be approximately $0.25 dilutive to adjusted earnings
per share (excluding non-recurring purchase accounting items and
other acquisition and integration related costs) in 2023.
For 2024, the transaction is expected to deliver a high-teens to
low 20% revenue growth profile and be approximately $0.35 dilutive
to adjusted earnings per share (excluding non-recurring purchase
accounting items and other acquisition and integration related
costs). The transaction is expected to be increasingly accretive to
adjusted EPS, thereafter.
The Company will provide an update to its 2023 financial outlook
on its third quarter earnings conference call.
About Teleflex IncorporatedTeleflex is a global
provider of medical technologies designed to improve the health and
quality of people’s lives. We apply purpose driven innovation – a
relentless pursuit of identifying unmet clinical needs – to benefit
patients and healthcare providers. Our portfolio is diverse, with
solutions in the fields of vascular access, interventional
cardiology and radiology, anesthesia, emergency medicine, surgical,
urology and respiratory care. Teleflex employees worldwide are
united in the understanding that what we do every day makes a
difference. For more information, please visit teleflex.com.
Teleflex is the home of Arrow®, Deknatel®, LMA®, Pilling®,
QuikClot®, Rüsch®, UroLift® and Weck® – trusted brands united by a
common sense of purpose.
Forward-Looking StatementsAny statements
contained in this press release that do not describe historical
facts may constitute forward-looking statements. Any
forward-looking statements contained herein are based on our
management's current beliefs and expectations, but are subject to a
number of risks, uncertainties and changes in circumstances, which
may cause actual results or company actions to differ materially
from what is expressed or implied by these statements. These risks
and uncertainties are identified and described in more detail in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K.
Teleflex, the Teleflex logo, Arrow, Deknatel, LMA, Pilling,
QuikClot, Rüsch, UroLift, and Weck are trademarks or registered
trademarks of Teleflex Incorporated or its affiliates, in the U.S.
and/or other countries.© 2023 Teleflex Incorporated. All rights
reserved.
Barrigel, Deflux and Solesta are trademarks or registered
trademarks of Galderma Holding S.A.
References:
- Mariados NF, Orio
PF, Schiffman Z, et al. Hyaluronic acid spacer for hypofractionated
prostate radiation therapy: a randomized clinical trial. JAMA
Oncol. 2023; e1-e8.
Contacts:TeleflexLawrence KeuschVice President,
Investor Relations and Strategy
Developmentinvestor.relations@teleflex.com610-948-2836
Teleflex (NYSE:TFX)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Teleflex (NYSE:TFX)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024