Teleflex to buy LMA International for $276 million
(Reuters) - Teleflex Inc (TFX.N) said on Monday it would buy Netherlands-based LMA International NV LMAI.SI, which specializes in anesthesia and emergency care products, for about $276 million to boost the U.S. medical device maker's anesthesia division.
Teleflex has also agreed to acquire U.K-based medical device maker Intavent Direct Ltd's LMA branded laryngeal mask supraglottic airway business and certain other products in the United Kingdom, Ireland and Channel Islands.
Teleflex expects the deals to be accretive to its adjusted earnings per share by about 3 cents to 4 cents in the fiscal year 2012, and by 35 cents to 40 cents in 2013.
Teleflex Chief Executive Benson Smith said the acquisition would create a more diversified business segment with more than $530 million in combined annual sales.
LMA reported a revenue of $123.9 million the year 2011.
The deals are expected to be completed during the fourth quarter of 2012.
Teleflex shares had closed at $62.69 on the New York Stock Exchange on Monday.
(Reporting by Eileen Anupa Soreng in Bangalore; Editing by Eric Meijer)
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