WAYNE, PA — Teleflex Incorporated (NYSE: TFX) said it has agreed to sell three non-core businesses for a combined $2.03 billion in cash, a sweeping portfolio move that sharpens the company’s focus and unlocks capital for shareholders.
The medical technology company announced definitive agreements to sell its Acute Care and Interventional Urology businesses to Intersurgical Ltd., and its OEM business to buyers backed by Montagu and Kohlberg. The transactions, approved by Teleflex’s board, are expected to close in the second half of 2026, subject to regulatory approvals and customary conditions.
Teleflex said it expects to receive approximately $1.5 billion from the OEM sale and $530 million from the Acute Care and Interventional Urology sale. After taxes and closing adjustments, net proceeds are estimated at about $1.8 billion.
Chairman, President and Chief Executive Officer Liam Kelly said the divestitures cap a yearlong effort to streamline operations and concentrate investment in higher-growth segments. He said the transactions will leave Teleflex more tightly focused on vascular access, interventional, and surgical technologies, supported by a simplified global operating and manufacturing footprint.
Kelly said the streamlined portfolio positions the company to deliver mid-single-digit growth, improve commercial execution, and compete more effectively in critical care and high-acuity hospital markets. He added that the company will also be better positioned to return capital to investors while continuing to invest in innovation.
Teleflex said it intends to use the bulk of the proceeds to pay down debt and return capital to shareholders. In conjunction with the asset sales, the board authorized a new share repurchase program of up to $1 billion, which will be funded primarily with transaction proceeds.
The company said the timing and scale of repurchases will depend on market conditions, share price, debt considerations, legal requirements, and the timing of the transaction closings. The authorization does not obligate Teleflex to repurchase any shares and may be modified or suspended at any time.
Kelly said the company is focused on ensuring a smooth transition for employees, customers, and partners, and expressed confidence that the buyers are well positioned to invest in and grow the divested businesses.
Centerview Partners LLC is serving as financial advisor to Teleflex, with Simpson Thacher & Bartlett LLP providing legal counsel and Joele Frank acting as strategic communications advisor.
The transactions mark a significant reset for Teleflex, trading scale in select legacy businesses for sharper focus, balance sheet flexibility, and a more aggressive shareholder return strategy.
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