Teleflex closes US $15.24M acquisition of Pyng Medical

Photo of author

By Ted Liu

Teleflex Incorporated (NYSE: TFX), through Teleflex Medical Canada Inc., has closed the acquisition of Pyng Medical Corp. (TSX-V: PYT) at US $0.30203 or CDN $0.4020 per share in cash for aggregate consideration of US $15.24 million or CDN $20.4 million.

Pyng is now wholly owned by Teleflex Canada. The common shares of Pyng will be de-listed from the TSX Venture Exchange and Pyng will cease to be a reporting issuer.

England Securities, LLC acted as financial advisor to Pyng Medical. Blake, Cassels & Graydon LLP and Robinson Brog Leinwand Greene Genovese & Gluck, P.C. acted as Canadian and US legal counsel to Pyng respectively. RwE Growth Partners Inc. provided a fairness opinion to the Pyng board and Special Committee.

Osler, Hoskin & Harcourt LLP acted as legal counsel to Teleflex.

photo credit: Pyng Medical