Teleflex Finalizes Acquisition of Hemostatic Devicemaker Z-Medica

Teleflex announced that it has completed its acquisition of Wallingford, Conn.-based hemostatic product developer Z-Medica for $500 million.

Z-Medica was founded in 2002 by Frank Hursey, an engineer with the Apollo space program who discovered a novel hemostatic agent. The company’s QuikClot Combat Gauze and other QuikClot devices are now widely used by the U.S. military and emergency response teams as well as in healthcare settings. Z-medica has approximately 156 employees.

Wayne, Penn.-based Teleflex makes specialty devices for critical care and surgical procedures. The company, which has 14,000 employees and operations in 40 countries, had revenue of $2.6 billion last year.