Teleflex Inc. (NYSE: TFX) has agreed to buy Vascular Solutions Inc. (Nasdaq: VASC) for approximately $1 billion. The deal for the target’s products will improve Teleflex’s research and development efforts, all while reducing the cost of procedures. Vascular Solutions is Minneapolis-based medical company focused on improving diagnostic and vascular procedures. The target’s products cover an array of procedural needs, including: specialty catheters, aspiration catheters, electrophysiology, drainage, embolization, guidewires, hemostasis, interventional accessories, radial access, snares, and vein treatment. Vascular Solutions’ product line of more than 90 proprietary devices is sold to cardiologists, radiologists, vein specialists and electrophysiologists in the U.S. and worldwide through its distribution network. “While we believe Vascular Solutions has compelling growth opportunities as they continue to build their business with their existing product portfolio,” states Teleflex CEO Benson Smith, “We look forward to potential longer-term tailwinds as we benefit from their robust R&D pipeline and our international distribution network moving forward.” Teleflex, headquartered in Wayne, Pennsylvania, is a global manufacturer of medical technology devices. The buyer’s portfolio of devices is used in medical fields such as vascular and interventional access, surgical, anesthesia, cardiac care, urology, emergency medicine and respiratory care. Teleflex’s medical brands consist of Arrow, Deknatel, Hudson RCI, LMA, Pilling, Rusch and Weck. As a result of the deal, the combined company will offer more than 150 cardiac, vascular and interventional access products. “The world of medical device M&A has been quite active over the last 12 to 18 months,” says Michael Probst, director of corporate development at Teleflex Inc., in this video shot at ACG Philadelphia’s M&A East conference. “The level of consolidation in the space has been tremendous, much of that has been driven by the clinical need of customers.” Medical device companies continue to receive strong buyer interest. Recent deals include: Windjammer Capital Investors backed medical test equipment maker Advanced Instruments; Genstar-backed Tecomet Inc. purchased Mountainside Medical, a maker of endoscopes and laparoscopes; Johnson & Johnson (NYSE: JNJ) agreed to buy Abbott Laboratories’ (NYSE: ABT) eye-surgery equipment unit; TPG Capital acquired Beaver-Visitec International, another eye surgery device maker; and Zimmer Biomet Holdings Inc. (NYSE: ZBH) agreed to purchase spinal surgery device producer LDR Holding Corp. (NYSE: ZBH). J.P. Morgan Securities LLC (NYSE: JPM) is serving as financial adviser to Teleflex and Simpson Thacher & Bartlett LLP is acting as legal counsel. Guggenheim Securities is acting as financial adviser to Vascular Solutions and Dorsey & Whitney LLP is serving as legal counsel.