Teleflex to acquire global laryngeal mask leader LMA International N.V.

Teleflex announced it signed a definitive agreement to acquire substantially all of the assets of LMA International N.V. for SGD 343.5 million in cash, which at current exchange rates translates into approximately $276M. LMA is a global market leader in laryngeal masks with a portfolio of innovative products used extensively in anesthesia and emergency care. The proposed acquisition will expand Teleflex’s anesthesia franchise, and will bring to the company a leading worldwide position in laryngeal masks. LMA reported revenue of $123.9M in its latest FY11. The Board of Directors of both Teleflex and LMA have approved the proposed transaction, which is subject to LMA shareholder approval, regulatory approvals and other customary closing conditions. In separate transactions, the Company today also announced it signed definitive agreements with the shareholders of Intavent Direct Ltd, or IDL, and affiliates to acquire the LMA branded laryngeal mask supraglottic airway business and certain other products in the U.K, Ireland and Channel Islands. The business reported revenue of $8.2M in its latest FY11. Collectively, the transactions are expected to be accretive to Teleflex’s adjusted EPS by approximately 3c-4c in FY12, and 35c-40c in FY13, excluding non-recurring purchase accounting items and other acquisition and integration related costs. The transactions are expected to be completed during Q4 of 2012.