# NeoTract

NeoTract, Inc. was a medical device company, incorporated in Delaware on December 15, 2004, that developed the UroLift System, a minimally invasive device used to perform the Prostatic Urethral Lift (PUL) procedure for treating benign prostatic hyperplasia (BPH).<sup>[2](https://www.sec.gov/Archives/edgar/data/96943/000009694317000132/a991-auditedconsolidatedfi.htm)</sup> Teleflex Incorporated acquired the company on October 2, 2017, paying $725 million in cash at closing with up to $375 million in additional milestone payments.<sup>[1](https://www.sec.gov/Archives/edgar/data/96943/000009694317000110/a10-2x20178xkreneotractclo.htm)</sup>

| Fact | Detail |
|---|---|
| Incorporated | December 15, 2004, Delaware<sup>[2](https://www.sec.gov/Archives/edgar/data/96943/000009694317000132/a991-auditedconsolidatedfi.htm)</sup> |
| Founders | Josh Makower, M.D.; Ted Lamson, Ph.D.; Joe Catanese, Ph.D.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> |
| Product | UroLift System for the Prostatic Urethral Lift procedure treating BPH<sup>[2](https://www.sec.gov/Archives/edgar/data/96943/000009694317000132/a991-auditedconsolidatedfi.htm)</sup> |
| Revenue | ~$51 million in 2016, up from ~$18 million in 2015<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> |
| Outcome | Acquired by Teleflex, closed October 2, 2017, for up to $1.1 billion<sup>[4](https://www.reuters.com/article/business/teleflex-inc-to-acquire-neotract-for-up-to-11-bln-idUSASB0BI06/)</sup> |

## Founding and people

NeoTract was incorporated in Delaware on December 15, 2004 to focus on developing the UroLift System.<sup>[2](https://www.sec.gov/Archives/edgar/data/96943/000009694317000132/a991-auditedconsolidatedfi.htm)</sup> At the time of its acquisition the company credited three founders with taking UroLift "from concept to reality": Josh Makower, M.D. (Founder and Chairman), Ted Lamson, Ph.D. (Founder and Chief Technical Officer) and Joe Catanese, Ph.D. (Founder and VP Professional Education). Dave Amerson was [President](https://www.edgepedia.org/president-corporate-title) and Chief Executive Officer at acquisition.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup>

[New Enterprise Associates](https://www.edgepedia.org/new-enterprise-associates) (NEA), a venture capital firm, first invested in NeoTract in early 2005 and records the company's status as acquired by Teleflex.<sup>[5](https://www.nea.com/portfolio/neotract)</sup> Round-by-round detail (amounts, dates, and investors per round) is not established by the available record.

## How the UroLift System works

The UroLift System addresses benign prostatic hyperplasia mechanically: it delivers permanent implants that hold open the urethra, reducing the prostate obstruction without cutting, heating, or removing prostate tissue.<sup>[6](https://www.biospace.com/teleflex-inc-completes-acquisition-of-neotract)</sup>

The regulatory path ran in two stages. The system received CE Mark in 2010, allowing sale in Europe, and FDA De Novo classification in 2013 for the United States market.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> By the time of the acquisition, Teleflex and NeoTract cited a clinical evidence base of two randomized clinical trials, seven open-label studies, and three meta-analyses.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> The findings of these studies, including the L.I.F.T. randomized study and long-term durability and retreatment data, are not covered by the sources retrieved for this article.

## Business and traction

NeoTract's revenue grew from approximately $18 million in 2015 to approximately $51 million in 2016, a 178% year-over-year increase, and the company expected 2017 revenue between $115 million and $120 million.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> These figures come from the acquisition announcement and represent the parties' own statements at the time.

Reimbursement supported adoption in the United States. The UroLift procedure had dedicated category 1 CPT codes (the billing codes US physicians use to claim payment) and was 100% covered by Medicare Administrative Contractors, which the company translated to approximately 174 million covered lives in the United States.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup> This coverage claim is the company's; the sources retrieved do not establish pricing, private-payer coverage, or what determines whether a urology practice adopts the system.

## Acquisition by Teleflex

Teleflex Incorporated (NYSE: TFX) announced on September 5, 2017 that it would acquire NeoTract in a transaction valued up to $1.1 billion, with an upfront cash payment of $725 million at closing.<sup>[4](https://www.reuters.com/article/business/teleflex-inc-to-acquire-neotract-for-up-to-11-bln-idUSASB0BI06/)</sup> The Agreement and Plan of Merger was dated September 4, 2017, and provided for additional milestone payments of up to $375 million in the aggregate, each subject to net sales requirements.<sup>[1](https://www.sec.gov/Archives/edgar/data/96943/000009694317000110/a10-2x20178xkreneotractclo.htm)</sup>

The acquisition closed on October 2, 2017. Teleflex Urology paid the $725 million purchase price in cash, subject to customary adjustments, and NeoTract survived as a wholly-owned subsidiary of Teleflex Urology Limited, an Irish entity.<sup>[1](https://www.sec.gov/Archives/edgar/data/96943/000009694317000110/a10-2x20178xkreneotractclo.htm)</sup>

Teleflex's stated rationale rested on market size and earnings impact. The company estimated the total addressable BPH market at over $30 billion and projected the deal to be breakeven to adjusted earnings per share in 2018, with $0.35 to $0.40 of adjusted EPS accretion in 2019.<sup>[3](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)</sup>

## References

1. [Teleflex Form 8-K: Completion of NeoTract Acquisition (October 2, 2017)](https://www.sec.gov/Archives/edgar/data/96943/000009694317000110/a10-2x20178xkreneotractclo.htm)
2. [NeoTract Audited Consolidated Financial Statements (SEC exhibit, 2017)](https://www.sec.gov/Archives/edgar/data/96943/000009694317000132/a991-auditedconsolidatedfi.htm)
3. [Teleflex Incorporated to Acquire NeoTract (press release, September 5, 2017)](https://www.businesswire.com/news/home/20170905005566/en/Teleflex-Incorporated-Acquire-NeoTract)
4. [Reuters: Teleflex Inc to Acquire NeoTract for Up to $1.1 bln](https://www.reuters.com/article/business/teleflex-inc-to-acquire-neotract-for-up-to-11-bln-idUSASB0BI06/)
5. [NEA Portfolio: NeoTract](https://www.nea.com/portfolio/neotract)
6. [Teleflex Inc. Completes Acquisition of NeoTract (BioSpace)](https://www.biospace.com/teleflex-inc-completes-acquisition-of-neotract)

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*Topic: Encyclopedia › Society and history › Economics and business › Business and work › Business and work overview › Companies and corporations › Venture-backed startups and growth companies › Health, biotech, and medtech startups › Medical device makers*

*Initially written Sep 17, 2026 · Reviewed: Sep 30, 2026 · Edited: Sep 30, 2026; Oct 11, 2026 · Last review: Sep 30, 2026*

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License: Edgepedia Community License 1.0, https://www.edgepedia.org/edgepedia/license