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TELEFLEX AGREES TO ACQUIRE SURGICAL DEVICES MANUFACTURER EDWARD WECK INCORPORATED

 PLYMOUTH MEETING, Pa., Nov. 16 /PRNewswire/ -- Teleflex Incorporated (AMEX: TFX) announced today that it had signed an agreement to acquire certain assets of Edward Weck Incorporated, a subsidiary of Bristol-Myers Squibb Company, for $63.5 million in cash.
 Weck manufactures and sells ligation clips and appliers, general and specialty hand-held surgical instruments, skin staplers and electrosurgery products. Sales in 1992 were approximately $60 million.
 The transaction is subject to Hart-Scott-Rodino clearance and is expected to close before year-end.
 Lennox K. Black, chairman and chief executive officer of Teleflex, said, "Weck is an excellent fit with our Pilling surgical instruments business. It significantly broadens the range of our surgical devices business as the Weck products are complementary to our existing product lines. We expect the acquisition to improve operating margins of our medical segment substantially in 1994 as a result of the efficiencies that can be gained in manufacturing and distribution."
 Founded 103 years ago, Weck is based in Raleigh-Durham, N.C. The company employs approximately 400 people, including a direct sales force of 55, and has international distribution in more than 20 countries.
 Founded in 1943, Teleflex is a leading manufacturer of products and services for the automotive, marine, industrial, aerospace and medical markets worldwide. Its medical segment manufactures and distributes hospital supplies and surgical instruments, and also develops and produces semi-finished components for other medical device manufacturers. In 1992, medical sales accounted for 32 percent, or $179 million, of Teleflex's total corporate revenues of $570 million.
 /delval/
 -0- 11/16/93
 /CONTACT: Janine Dusossoit, vice president-investor relations of Teleflex, 215-834-6301/
 (TFX BMY)


CO: Teleflex Incorporated; Edward Weck Incorporated; Bristol-Myers
 Squibb Company ST: Pennsylvania, New Jersey, North Carolina IN: ARO MTC SU: TNM


MJ -- PH014 -- 5023 11/16/93 11:19 EST
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Publication:PR Newswire
Date:Nov 16, 1993
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