Teleflex Acquires Essential Medical
Teleflex Incorporated (NYSE: TFX) today announced that it has acquired Essential Medical, Inc. Based in Exton, PA, Essential Medical is a privately-held medical device company that has developed and commercialized the CE Marked MANTA™ Vascular Closure Device specifically designed for closure of large bore arteriotomies following procedures utilizing devices or sheaths ranging in size from 10F to 18F (with maximum outer diameters up to 25F).
In its CE Mark study, the MANTA Device demonstrated rapid and reliable hemostasis with its resorbable collagen-based technology and complication rates that were non-inferior to surgical and suture-based closure methods.(1)
“We are very excited to announce this acquisition, which expands our presence in the structural heart and endovascular aneurysm repair markets,” said Liam Kelly, President and Chief Executive Officer of Teleflex. Added Mr. Kelly, “The MANTA Vascular Closure Device represents a truly innovative solution to address closure-related complications and high costs associated with many large and rapidly growing interventional procedure categories, such as transcatheter aortic valve replacement, endovascular aneurysm repair and ventricular assist device implantation. Physician adoption of the MANTA Device in international markets has been impressive, with over 8,100 procedures completed to date across a number of countries in the EU. We believe we can leverage our strong presence in the interventional cardiology market to accelerate adoption and growth of this breakthrough technology worldwide. Following the anticipated FDA premarket approval of the MANTA Device in 2019, we expect the acquisition will be modestly accretive to our constant currency revenue growth and gross margins over a multi-year period.”
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