WAYNE, PA — Teleflex Incorporated (NYSE: TFX) completed the $1.5 billion cash sale of its OEM business to Montagu and Kohlberg, giving the medical technology company an estimated $1.25 billion in after-tax proceeds that it plans to direct toward debt reduction and share repurchases.
Teleflex intends to use the proceeds to support an $800 million debt paydown and complete its existing $1 billion share repurchase authorization.
The transaction removes the OEM business from Teleflex’s continuing operations and narrows the company’s focus to its remaining medical technology businesses.
Teleflex framed the divestiture as part of a broader effort to reshape its portfolio and increase financial flexibility while returning capital to shareholders.
The company expects the transaction to leave the divested OEM business operating independently under Montagu and Kohlberg ownership.
Teleflex plans to provide updated 2026 financial guidance when it reports second-quarter results Aug. 6.
Centerview Partners LLC served as financial adviser to Teleflex, while Simpson Thacher & Bartlett LLP acted as legal counsel and Joele Frank served as strategic communications adviser.
Kirkland & Ellis LLP and Ropes & Gray LLP served as legal counsel to Montagu and Kohlberg.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.