Teleflex announced that board member Stuart Randle has been appointed interim president and chief executive officer (CEO), effective immediately.

Randle succeeds Liam Kelly, who departs as chairman, president, and CEO of the company. Dr. Stephen Klasko, Teleflex’s lead director, was named chairman of the board.

“With the announced sale of our Acute Care, Interventional Urology and OEM businesses, Teleflex is entering its next phase as a more focused, higher-growth organization, as well as executing on the announced transactions and focusing on core critical care and high-acuity hospital markets,” said Dr. Klasko. “The Board determined this is the right time to transition leadership and best position the Company for the future. Stuart brings over 35 years of deep medical device leadership and long-standing familiarity with Teleflex as a Board member, and we are confident he will lead effectively during this period.”

The company announced it would sell the businesses to two buyers last month. Respiratory device manufacturer Intersurgical Ltd. will acquire the Acute Care and Interventional Urology businesses. Middle-market private equity firms Montagu and Kohlberg will acquire the Teleflex Medical OEM business. The combined total of the deals is about $2.03 billion in cash, subject to closing adjustments.

“I’m pleased to serve as Teleflex’s Interim CEO and work alongside the talented leadership team, as well as Steve and the Board, to advance our transformation, drive growth and create value for our stakeholders,” said Randle. “I’m encouraged by the progress we’ve made, including the recently announced transactions, and see great potential ahead. Our leadership team remains focused on execution and continuity, and I look forward to leading Teleflex during this time of transition.”

Dr. Klasko continued, “On behalf of the entire Board, I want to thank Liam for his many contributions to Teleflex over the past 16 years. He has been an important force in driving growth internationally and fostering a purpose-driven company culture focused on excellence, innovation and transparency. We wish him all the best.”

Update on preliminary full-year 2025 revenue results

Teleflex currently expects revenue for the full year 2025 to be $3.27 billion to $3.278 billion, compared to previous guidance of $3.305 billion to $3.320 billion.

The company said the drop in revenue is mainly the result of lower than expected demand for intra-aortic balloon pumps and catheters in the U.S. and Asia at the year’s end, as well as delays in certain purchase orders in the OEM business. Further, lower overall order volumes in certain portfolio segments fell short of expectations.