Teleflex Agrees to Sell SSI Surgical Services for $25 Million

Teleflex Inc. has agreed to sell its SSI Surgical Services Inc. business to a privately owned multi-service line healthcare company for approximately $25 million.

SSI, which has annual revenues of about $20 million, offers a range of endoscopic surgical services and sterile processing management services to help hospitals and surgery centers control costs and improve operational efficiency, according to Teleflex, which is a Limerick, Pa., global supplier of medical devices, surgical instruments and disposable medical products.

As a result of this agreement, Teleflex does not anticipate this transaction will have an impact on its previously provided 2010 financial outlook, the company said.

“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,” said Jeffrey P. Black, chairman and CEO of Teleflex.