Teleflex is set to acquire Johnson & Johnson-backed NeoTract for a total of $1.1bn, with $725m to be paid upfront and the remainder dependent on certain milestones.
NeoTract, a US-based medical device manufacturer backed by pharmaceutical firm Johnson & Johnson, agreed to an acquisition by medical device maker Teleflex yesterday for a total consideration of $1.1bn.
Teleflex will pay $725m in cash upon closing of the deal, which is expected within 30 days subject to customary conditions. The remaining $375m will be paid dependent on certain commercial milestones related to sales through the end of 2020.
Founded in 2004, NeoTract has developed a minimally invasive device, UroLift,…
