Teleflex Acquires Essential Medical
Acquisition expands presence in structural heart and endovascular aneurysm repair markets by adding unique large bore closure system
October 04, 2018 05:00 PM Eastern Daylight Time
“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.”
“The combination of Teleflex and Essential Medical provides an excellent opportunity to maximize physician and patient access to the MANTA™ Vascular Closure Device,” stated Greg Walters, Essential Medical’s co-founder, President and CEO. “We are delighted to become an important part of Teleflex’s interventional cardiology business.”
The MANTA Device is not approved for sale or distribution in the United States.
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