Teleflex Announces Major Restructuring and Acquisition in Cardiovascular Market

Teleflex, a prominent player in the medical device industry, has unveiled plans for a significant corporate restructuring alongside a substantial acquisition in the cardiovascular sector. The company's strategic moves are set to reshape its business focus and expand its market presence in interventional cardiology.

Company Split and Biotronik Acquisition

Teleflex has announced its intention to split into two independent companies by mid-2026, provisionally dubbed NewCo and RemainCo. This decision comes in tandem with an agreement to acquire a significant portion of Biotronik's vascular intervention portfolio for approximately €760 million ($791 million).

The acquisition encompasses a wide range of cardiovascular devices, including drug-coated balloons, stents for both cardiac and peripheral applications, and the PK Papyrus covered rescue stent for sealing vessel perforations during coronary procedures. Notably, the deal also includes Biotronik's Freesolve metallic drug-eluting and resorbable stent, which received CE Mark approval in Europe in 2024.

Strategic Realignment of Business Units

Under the restructuring plan, NewCo will comprise Teleflex's interventional urology, acute care, and device manufacturing businesses. This entity will inherit 12 of Teleflex's 19 manufacturing locations and establish its own leadership team and headquarters. NewCo's portfolio will include the UroLift and Barrigel therapies, as well as various anesthesia and respiratory systems.

RemainCo, to be led by current Teleflex President and CEO Liam Kelly, will incorporate the newly acquired Biotronik assets alongside Teleflex's existing vascular access devices and surgical instruments. This division is projected to have generated approximately $2.1 billion in pro forma sales across both companies in 2024.

Financial Performance and Market Outlook

Teleflex reported its 2024 earnings results, revealing total revenues of $3.04 billion, a 2.4% increase from the previous year. The company's fourth-quarter sales reached $795.4 million, contributing to a net income of $69.7 million for the year, despite a fourth-quarter net loss of $136.6 million.

The acquisition of Biotronik's cardiovascular assets is expected to diversify Teleflex's geographic revenue mix, with 50% of the acquired revenues generated in Europe, the Middle East, and Africa. This move aims to provide additional scale for investment in innovation and position Teleflex as a stronger competitor in the fast-growing peripheral intervention market.