February 26, 2010 (FinancialWire) — Teleflex Inc. (NYSE: TFX), a provider of medical technology products, said that it has entered into a definitive agreement to sell its SSI Surgical Services Inc. business to a privately-owned multi-service line healthcare company for around $25 million.

The transaction is scheduled to close before the end of the first quarter of 2010.

SSI posts annual revenues of around $20 million. The company offers a range of endoscopic surgical services and sterile processing management services.

As a result of the agreement, SSI will be reflected in Teleflex’s future consolidated financial statements as a discontinued operation.

The company said that, although this transaction is expected to be slightly dilutive to 2010 earnings per share, the underlying strength of Teleflex’s existing businesses is expected to offset this dilution.

As a result, Pennsylvania-based Teleflex said it does not anticipate this transaction will have an impact on its previously provided 2010 financial outlook.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.