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.

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5 hours ago - World

China-Iran deal envisions massive investments from Beijing

Illustration: Aïda Amer/Axios

China and Iran have negotiated a deal that would see massive investments flow into Iran, oil flow out, and collaboration increase on defense and intelligence.

Why it matters: If the proposals become reality, Chinese cash, telecom infrastructure, railways and ports could offer new life to Iran’s sanctions-choked economy — or, critics fear, leave it inescapably beholden to Beijing.

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 13,048,249 — Total deaths: 571,685 — Total recoveries — 7,215,865Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 3,353,348— Total deaths: 135,524 — Total recoveries: 1,031,856 — Total tested: 40,282,176Map.
  3. World: WHO head: There will be no return to the "old normal" for foreseeable future — Hong Kong Disneyland closing due to surge.
  4. States: Houston mayor calls for two-week shutdownCalifornia orders sweeping rollback of open businesses — Cuomo says New York will use formula to determine if reopening schools is safe.
  5. Education: Los Angeles schools' move to online learning could be a nationwide tipping point.

House Judiciary Committee releases transcript of Geoffrey Berman testimony

Geoffrey Berman. Photo: Alex Wong/Getty Images

The House Judiciary Committee on Monday released the transcript of its closed-door interview with Geoffrey Berman, the former top federal prosecutor in Manhattan who was forced out by Attorney General Bill Barr last month.

Why it matters: House Democrats have seized on Berman's testimony, in which he claimed the attorney general sought to "entice" him into resigning so that he could be replaced by SEC chairman Jay Clayton, to bolster allegations that the Justice Department has been politicized under Barr.