Teleflex Incorporated Fesses Up To Trouble With Sustain Coating
Published: Mar 24, 2014
Teleflex Inc.—which bought Massachusetts Institute of Technology (MIT) spinout Semprus BioSciences Corp. in May 2012 for a reported $30 million plus contingencies—has reported to its shareholders that it is experiencing difficulties with the Sustain coating technology it gained through the acquisition. Limerick, PA–based Teleflex stated in its most recent annual report filed with the SEC: “During 2013, the Company experienced unexpected difficulties with respect to the development of the Semprus technology, which the company is currently attempting to resolve through further research and testing.”
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