Teleflex, Inc. recently announced that it has entered into a definitive agreement to sell its SSI Surgical Services, Inc. business to an unnamed, privately-owned multi-service line healthcare company for approximately $25 million. The transaction is subject to customary closing conditions and is expected to close before the end of the first quarter of 2010.
SSI, with annual revenues of approximately $20 million, offers a range of endoscopic surgical services and sterile processing management services. “The decision to divest SSI was made following a review of our portfolio and it was determined that SSI was not a strategic fit. This allows us to continue to reallocate resources to our higher margin businesses,” stated Jeffrey P. Black, chairman and chief executive officer.