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.
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).
Titan SGS is a first-of-its-kind surgical stapler designed to help bariatric surgeons achieve more consistent and symmetrical gastric sleeve pouch anatomy, setting patients up for optimized outcomes.
“Standard Bariatrics is grateful to RiverVest for sharing our belief that a stapler designed specifically for bariatric surgery could out-perform a general-purpose surgical stapler and deliver consistent and repeatable patient outcomes and operational efficiency.
RiverVest’s guidance and reputation helped us build the strong investor base we needed as our company progressed.
Matt Sokany, Chief Executive Officer of Standard Bariatrics
RiverVest is proud of our early and active role in Standard Bariatrics’ success, leading the $20 million Series A financing in 2018 and participating in the $35 million Series B round in 2021.
In addition to our financial commitment, RiverVest provided hands-on guidance from RiverVest VP Karen Spilizewski, who serves on the company’s board of directors, and Managing Director Jay Schmelter, an observer of the board.