Nam Y. Huh / AP

Medical device company Teleflex is acquiring NeoTract, a smaller company that makes just one medical device, in a deal valued at $1.1 billion. Teleflex will pay $725 million upfront and $375 million in additional payments tied to sales goals.

Why it matters: Teleflex is paying a premium to buy NeoTract's sole product, a urology device that helps treat enlarged prostate glands. But the prostate market is large, profitable and growing. A handful of venture capital firms, including New Enterprise Associates and Questa Capital, poured more than $60 million into NeoTract and are reaping a big payday. Dan Primack reports that this was the result of a dual process by NeoTract, which had confidentially filed for an IPO.

Money talks: "Neotract's Urolift device has strong reimbursement coding and coverage, and (intellectual property) protections run through 2033," Leerink analyst Richard Newitter wrote in an investor note.

Go deeper

Updated 25 mins ago - Politics & Policy

Supreme Court blocks Alabama curbside voting measure

Photo: Mark Wilson/Getty Images

The Supreme Court on Wednesday evening blocked a lower court order that would have allowed voters to cast ballots curbside at Alabama polling places on Election Day.

Whit it matters: With less than two weeks until Election Day, the justices voted 5-3 to reinstate the curbside voting ban and overturn a lower court judge's ruling designed to protect people with disabilities during the coronavirus pandemic.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Senate Democrats block vote on McConnell's targeted COVID relief bill McConnell urges White House not to strike stimulus deal before election.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: New York reports most COVID cases since MayStudies show drop in coronavirus death rate — The next wave is gaining steam.
  4. Education: Schools haven't become hotspots — San Francisco public schools likely won't reopen before the end of the year.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases.

U.S. officials: Iran and Russia aim to interfere in election

Iran and Russia have obtained voter registration information that can be used to undermine confidence in the U.S. election system, Director of National Intelligence John Ratcliffe announced at a press conference Wednesday evening.

Why it matters: The revelation comes roughly two weeks before Election Day. Ratcliffe said Iran has sent threatening emails to Democratic voters this week in states across the U.S. and spread videos claiming that people can vote more than once.