Teleflex (TFX) said Thursday it has agreed to acquire most of Biotronik's Vascular Intervention business for about 760 million euros ($793.1 million) in cash, with the deal expected to close by the end of Q3.

The company said the acquisition will add coronary and peripheral vascular intervention devices to its portfolio.

The business generated a 5.4% constant currency revenue compound annual growth rate from 2022 to 2024 and is expected to contribute about 91 million euros in revenue in Q4 of 2025, Teleflex said.

Teleflex said it expects the purchase to add about $0.10 to adjusted earnings per share in the first year post-close.

Teleflex said it will finance the acquisition through a new term loan, revolving credit, and cash on hand.

Teleflex shares were more than 20% lower in recent trading.

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