Teleflex announces acquisition of Eon Surgical

Jun 6 2013

Teleflex Incorporated (NYSE: TFX), a leading global provider of medical devices for critical care and surgery, today announced the acquisition of Eon Surgical, Ltd., a late stage development company that has advanced a minimally invasive microlaparoscopy surgical platform technology designed to enhance surgeons' ability to perform scarless surgery while producing better patient outcomes.

“This acquisition is consistent with our focus on innovative technologies and will greatly expand Teleflex's offerings that address the significant market opportunity for minimally invasive laparoscopic procedures”

Microlaparoscopy, unlike NOTES (Natural OrificeTranslumenal Endoscopic Surgery™) or single incision surgery, provides surgeons a mechanism for performing minimally invasive procedures without significant changes in technique. The technology has the ability to be utilized for an entire procedure or as an adjunct to existing approaches that require additional access without adding to larger incisions and the associated risks.

While there are current technologies being marketed for use in microlaparoscopy or needlescopic approaches, adoption has not been significant due to limitations of available devices. The purchase of Eon Surgical, coupled with already acquired intellectual property by Teleflex, is targeted at removing barriers to broad market adoption.

"This acquisition is consistent with our focus on innovative technologies and will greatly expand Teleflex's offerings that address the significant market opportunity for minimally invasive laparoscopic procedures," said Benson Smith, Chairman, President and CEO.

Commenting on the acquisition, Danny Farin, CEO and co-founder of Eon Surgical, stated, "We are proud to be associated with a prestigious industry partner like Teleflex. This is a wonderful opportunity to accelerate the global expansion of our innovative platform, while providing the highest level of support to surgeons throughout the world. I am very thankful for the opportunity to work with Eon's synergistic, highly skillful and professional team."

David Zigdon, CEO of RAD BioMed, Eon Surgical's accelerator, added, "Eon Surgical achieved extraordinary results in a remarkably short period of time due to diligent and inspiring work that brought a novel concept from inception to market in three years. Co-founders Danny Farin and Shaul Shohat, together with Eon Surgical's VP R&D, Yehuda Bachar, are to be commended for accelerating the development of the technology at the highest executional and strategic level."

The financial terms of the acquisition were not disclosed.

SOURCE Teleflex Incorporated