QT Vascular to sell coronary assets to Teleflex in deal worth more than $98.4 mil

SINGAPORE (May 24): QT Vascular has entered into an asset purchase and option agreement to sell its non-drug coated coronary product line and related intellectual property (IP) licenses to Teleflex Life Sciences Unlimited Company and Teleflex Incorporated in a deal worth up to $32.8 million.

On top of the purchase price of $26.2 million, QT Vascular will receive two separate payments of $3.3 million each when Teleflex achieves certain milestones set for the worldwide annual net revenue from the sales of the non-coated coronary products.

The agreement also provides NYSE-listed Teleflex with an option to purchase the drug coated coronary balloon catheter known as Chocolate Heart, which is currently under development by QT Vascular.

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