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Teleflex Acquires Microlaparoscopy Surgical Platform Technology
LIMERICK, Pa.--(BUSINESS WIRE)-- Teleflex Incorporated (NYS: 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.
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.
About Teleflex Incorporated
Teleflex is a leading global provider of specialty medical devices for a range of procedures in critical care and surgery. Our mission is to provide solutions that enable healthcare providers to improve outcomes and enhance patient and provider safety. Headquartered in Limerick, PA, Teleflex employs approximately 11,700 people worldwide and serves healthcare providers in more than 140 countries. For additional information about Teleflex please refer to www.teleflex.com.
About Eon Surgical Ltd. - EON Surgical, an Israeli company, was founded under the auspices of the Rad BioMed Accelerator in May 2010, with the vision to become a leading provider of solutions for next-generation scarless surgery.
About RAD BioMed Accelerator Ltd. - RAD BioMed is a success-accelerator for Israeli biomedical startups, and is part of the RAD Group, one of Israel's most accomplished startup-to-successful-exit generators. RAD BioMed's co-founders, Mr. Yehuda Zisapel and Prof. Nava Zisapel, also co-founded Neurim Ltd., a leading Israeli biopharma company which developed Circadin®, an approved and globally-marketed treatment for sleep disorders. Based in Tel-Aviv, RAD BioMed minimizes early-stage operational costs by providing access to state-of-the-art facilities and laboratories, and is differentiated by the long-term partnership it offers with a strategic umbrella of professional support and services as well as financial backing and networking support for follow-on activities.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Any forward-looking statements contained herein are based on our management's current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. These risks and uncertainties are identified and described in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
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