Teleflex Inc. (TFX), a medical technologies provider, Tuesday announced that it has agreed to sell its Acute Care, Interventional Urology to Intersurgical Ltd and OEM businesses to Montagu and Kohlberg for a total of $2.03 billion in cash.
Today's announcement is a result of this work and establishes Teleflex as a more focused medical technologies leader, with highly complementary businesses in Vascular Access, Interventional, and Surgical, and a simplified global operating model and manufacturing footprint.", commented Liam Kelly, Teleflex's Chief Executive Officer.
The transaction is set to be completed in the second half of 2026 and the company will receive around $1.5 billion for its OEM business and $530 million for its Acute Care and Interventional Urology businesses. The net proceeds will be around $1.58 billion post tax.
The company plans to use the proceeds from the sale to pay down its debt and repurchase up to $1 billion of its common stock.
In pre-market activity, TFX shares were trading at $130, up 8.47% on the New York Stock Exchange.
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