: Teleflex paying up to $650 mln for privately-held Palette Life Sciences AB

Teleflex Inc. TFX said Wednesday it agreed to pay up to $650 million for privately-held urology and cancer treatment products maker Palette Life Sciences AB in a deal expected to close in the fourth quarter. The purchase price values Palette Life Sciences at about 11.6 times its estimated 2023 revenue of about $56 million, with projected revenue growth in the high-teens to low 20% range. Teleflex said the acquisition will be immediately accretive to adjusted gross margin. Teleflex said it expects the acquisition will be dilutive to its adjusted earnings per share in 2023 and add to its 2024 profit by about 15 cents to 5 cents a share. Teleflex stock is up 2.6% in 2023 compared to a 35.1% gain by the Nasdaq COMP.

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