October 28, 2020
Teleflex to Acquire Hemostatic Product Maker Z-Medica
October 28, 2020—Teleflex Incorporated announced it has entered into a definitive agreement to acquire privately held Z-Medica, LLC, a Connecticut-based manufacturer of hemostatic products.
Z-Medica’s products currently focus on the trauma surgery, EMS, military, emergency department, and interventional segments.
The company's brands of hemostatic technologies include QuikClot, Combat Gauze, and QuikClot Control+, which utilize the company's technology consisting of gauze impregnated with kaolin. QuikClot Control+ hemostatic dressing is indicated for temporary control of Class III or Class IV bleeding in the internal organ space.
Under the terms of the agreement, Teleflex will acquire Z-Medica for an upfront cash payment of $500 million at closing, and up to an additional $25 million upon the achievement of certain commercial milestones.
The Boards of Directors of both Teleflex and Z-Medica have unanimously approved the transaction. The acquisition is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed in the fourth quarter of 2020, advised Teleflex.