Teleflex announces acquisition of VasoNova

Teleflex Incorporated, a leading global provider of medical technology products, today announced it has acquired privately-held VasoNova Inc. in a transaction valued at up to $55 million.

“VasoNova's VPS™ technology is the first real-time intra-vascular catheter navigation technology that does not require external metal detectors or viewing screens, nor subjective interpretation of ECG signals. The combination of the VasoNova™ VPS™ technology and Teleflex's world-class vascular access product offerings are highly synergistic.”

Based in Menlo Park, CA, VasoNova has developed a unique central venous catheter navigation technology that allows for real-time accurate confirmation of placement of peripherally inserted central catheters and central venous catheters in the lower one third of the superior vena cava, the optimal position for catheter tip location.

"The addition of VasoNova's technology allows Teleflex to expand our vascular access product offerings and add real-time catheter tip positioning capability to our portfolio that is designed to permit clinicians to confirm central venous catheter location potentially without the need for an X-ray," said Jeffrey P. Black, Chairman and Chief Executive Officer of Teleflex. "We welcome the VasoNova employees to the Teleflex family and look forward to working with them to expand the presence of VasoNova's technology in the marketplace."

Paul Molloy, President and Chief Executive Officer of VasoNova added, "VasoNova's VPS™ technology is the first real-time intra-vascular catheter navigation technology that does not require external metal detectors or viewing screens, nor subjective interpretation of ECG signals. The combination of the VasoNova™ VPS™ technology and Teleflex's world-class vascular access product offerings are highly synergistic."

Under the terms of the agreement, Teleflex has acquired VasoNova for an upfront payment of $25 million and will make additional payments of between $15 million and $30 million based upon the achievement of certain regulatory and revenue targets over the next three years. The combination with VasoNova is expected to be accretive to both revenue and earnings by year-end 2011. Teleflex will report the VasoNova business as part of the vascular access product line in its Critical Care division.