Teleflex, a medical device maker, will purchase NeoTract, a urology device manufacturer, for up to $1.1 billion, according to Reuters.
The deal is expected to widen Teleflex's variety of urology devices and boost its revenue and margin growth over the next several years.
Based on NeoTract's sales, the deal could rise to $1.1 billion because NeoTract's revenue has grown more than 20 percent in 13 of the 14 past quarters and is expected to increase at least 40 percent in 2018.
The acquisition is expected to close within the next 30 days. Teleflex will pay NeoTract $725 million when the deal closes and an additional $375 million if NeoTract hits various sales milestones.
This is Teleflex's second billion dollar deal this year.