Teleflex Incorporated is to acquire privately-held Vidacare Corporation for $262.5 million Vidacare is described as the leading provider of intraosseous (IO), or inside the bone, access devices. The acquisition is expected to be completed late in the fourth quarter of 2013.
Vidacare products include a patented power driver and needle system to access the intraosseous space for a variety of medical, diagnostic and therapeutic purposes. Their products include the EZ-IO® Intraosseous Vascular Access System, the OnControl™ Bone Marrow System and the OnControl™ Bone Access System. Vidacare’s proprietary devices have become the recognised technology standard and are used in a broad range of applications including vascular access, emergency medicine, oncology and spinal surgery.
The news of the Vidacare acquisition was released at the same time as Teleflex was announcing spectacular double digit revenue growth pretty much across the board and increasing its profit forecasts for the full year. Read the full Teleflex financial release here.
“Teleflex’s strategy is to invest in innovative products and technologies that can meaningfully enhance clinical efficacy, patient safety and comfort, reduce complications and lower the overall cost of care,” said Benson Smith, Chairman, President and CEO. “The acquisition of Vidacare, an industry leader with a high gross margin profile, will expand our comprehensive vascular access product portfolio with a defining technology that can provide either a bridge to longer term access devices such as a central venous catheter, or a rapid, less expensive, and lower risk alternative for difficult vascular access when long-term central lines are not necessary.”
Source: Teleflex, Inc., Business Wire