Limerick-based Teleflex, a diversified company involved in the manufacturing of medical and aerospace equipment, has bought California-based privately-held medical devices company VasoNova for $55m.
Under the deal, Teleflex paid $25m upfront and will make additional payments of $15m to $30m based on regulatory and revenue targets over the next three years.
VasoNova president and CEO Paul Molloy said the company’s Vascular Positioning System (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," Molloy said.
Teleflex chairman and CEO Jeffrey Black said the addition of VasoNova’s technology allows Teleflex to expand their vascular access product offerings and add real-time catheter tip positioning capability to their portfolio that is designed to permit clinicians to confirm central venous catheter location potentially without the need for an