ST. LOUIS (August 22, 2022) – Standard Bariatrics – a RiverVest Venture Fund IV portfolio company – has entered into a definitive agreement to be acquired by Teleflex Incorporated (NYSE: TFX), a global provider of medical technologies designed to improve the health and quality of people’s lives.
Under the terms of the agreement, Teleflex will acquire Standard Bariatrics for an upfront cash payment of $170 million at closing, with additional consideration of up to $130 million payable upon the achievement of certain commercial milestones. The acquisition is subject to customary closing conditions, including receipt of certain regulatory approvals, and is expected to be completed early in the fourth quarter of 2022.
Once completed, the acquisition by Teleflex is expected to accelerate distribution of Standard Bariatrics’ Titan SGS stapler for sleeve gastrectomy (a type of weight loss surgery).
