Teleflex Completes Acquisition of Standard Bariatrics

Teleflex

WAYNE, PA — Teleflex Incorporated (NYSE: TFX) announced that it has completed its acquisition of Standard Bariatrics, Inc., which has commercialized an innovative powered stapling technology for bariatric surgery.

On August 22, Teleflex announced its entry into a definitive agreement to acquire Standard Bariatrics. Under the terms of the agreement, Teleflex acquired Standard Bariatrics for $170 million at closing, with additional consideration of up to $130 million payable upon the achievement of certain commercial milestones.

For 2022, the transaction is not expected to contribute meaningfully to Teleflex revenue and is expected to be approximately $0.10 dilutive to adjusted earnings per share (excluding non-recurring purchase accounting items and other acquisition and integration-related costs).

For 2023, the transaction is expected to contribute between $30 and $35 million of revenue and be approximately $0.10 to $0.15 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 accretive to revenue growth and adjusted EPS, thereafter.

The Company stated that it will provide an update on its 2022 financial outlook during its third quarter earnings conference call.

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