Teleflex buys Calif. firm in $55M deal

Teleflex Inc. said today that it acquired privately held VasoNova Inc., of Menlo Park, Calif., in a deal valued at as much as $55 million.

The VasoNova deal provides the Limerick-based Teleflex with central venous catheter navigation technology.

Teleflex chief executive officer Jeffrey P. Black said the VasoNova technology permits clinicians to confirm catheter locations "potentially without the need for an X-ray."

Under the terms of the deal, Teleflex acquired VasoNova for an up-front payment of $25 million and will make additional payments of between $15 million and $30 million based upon the achievement of regulatory and revenue targets over the next three years.

Teleflex shares picked up 5 cents today to trade at $54.19 on the Nasdaq markets.    - Reid Kanaley