Teleflex Acquires Palette Life Sciences For $600M Upfront, Expands Interventional Urology Portfolio
Portfolio Pulse from Vandana Singh
Teleflex Incorporated (NYSE:TFX) has agreed to acquire Palette Life Sciences AB for an upfront cash payment of $600 million, with an additional $50 million upon achieving certain commercial milestones. The acquisition, expected to complete in Q4 of 2023, will expand Teleflex's Interventional Urology portfolio. Palette Life Sciences is estimated to generate 2023 net sales of approximately $56 million. The transaction is expected to be dilutive to Teleflex's adjusted EPS in 2023 and 2024.
July 26, 2023 | 1:45 pm
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Teleflex's acquisition of Palette Life Sciences is expected to expand its portfolio and contribute to growth in the coming years. However, the transaction is expected to be dilutive to the company's adjusted EPS in 2023 and 2024.
The acquisition is expected to expand Teleflex's portfolio and contribute to its growth, which could be positive for the company's stock. However, the transaction is expected to be dilutive to the company's adjusted EPS in 2023 and 2024, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100