Teleflex (TFX) to Acquire EFx Product Maker Axiom Technology Partners
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Teleflex Incorporated (NYSE: TFX), announced it has entered into a definitive agreement to acquire substantially all of the assets of Axiom Technology Partners, LLC, which makes the EFx family of laparoscopic fascial closure system products. This acquisition is expected to broaden our general surgery product line and provide access to new sales channels. The EFx product portfolio includes both FDA-cleared and pipeline products designed for the safe and simple closure of abdominal trocar defects through which access ports and instruments were used during laparoscopic surgeries.
Post-surgical herniation is a common complication in patients at sites in which larger instruments were inserted during surgery. Published guidelines recommend that all midline umbilical port sites and port sites greater than 10 millimeters be closed to avoid herniation. The EFx portfolio is applicable to all surgical laparoscopic port sites that are 10 millimeters or larger. There are approximately 5 million laparoscopic procedures performed globally each year with roughly half of those conducted in the United States. Laparoscopic procedures performed with 10 millimeter endoscopes or larger account for approximately 70% of all procedures.
Financial terms of the deal were not disclosed.
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Post-surgical herniation is a common complication in patients at sites in which larger instruments were inserted during surgery. Published guidelines recommend that all midline umbilical port sites and port sites greater than 10 millimeters be closed to avoid herniation. The EFx portfolio is applicable to all surgical laparoscopic port sites that are 10 millimeters or larger. There are approximately 5 million laparoscopic procedures performed globally each year with roughly half of those conducted in the United States. Laparoscopic procedures performed with 10 millimeter endoscopes or larger account for approximately 70% of all procedures.
Financial terms of the deal were not disclosed.
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