Palette Life Sciences

Teleflex (NYSE: TFX) (NYSE: TFX) + this week completed the previously announced acquisition of Palette Life Sciences.

The Wayne, Pennsylvania-based company first announced the acquisition in July. Under the terms of the agreement, Teleflex bought Palette for an upfront cash payment of $600 million at closing, with additional consideration of up to $50 million upon the achievement of certain commercial milestones.

The acquisition boosts Teleflex’s interventional urology platform which includes its UroLift system. Palette develops a non-animalized stabilized hyaluronic acid (NASHA) spacer and tissue bulking products. The company estimates standalone revenues of approximately $56 million in 2023.

Teleflex said in a news release that it expects to the acquisition to be approximately 25¢ dilutive to adjusted earnings per share. For 2024, the transaction is expected to deliver a high-teems to low 20% revenue grow…

Teleflex (NYSE: TFX) + announced today that it entered into a definitive agreement to acquire Palette Life Sciences.

The deal to acquire the privately-held urology technology developer includes an upfront cash payment of $600 million at closing. It also includes up to an additional $50 million upon the achievement of certain commercial milestones.

Wayne, Pennsylvania-based Teleflex said in a news release that it expects to complete the acquisition in the fourth quarter of 2023. The company believes Palette’s offerings expand its interventional urology portfolio, which includes the UroLift system.

Palette develops a non-animalized stabilized hyaluronic acid (NASHA) spacer and tissue bulking products. The company estimates standalone revenues of approximately $56 million in 2023. Assuming a Dec. 1, 2023, closing, Teleflex does not expect the acquisition to significantly impact its revenue for the year.