Teleflex announced it has entered agreements to sell its Acute Care, Interventional Urology, and OEM businesses to two buyers.

Earlier this year, Teleflex announced plans to separate the three businesses into an independent, publicly traded company when it announced it had also purchased Biotronik’s Vascular Intervention business for about €760 million. Instead, Teleflex has now opted to sell the businesses.

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.

The transactions have been approved by Teleflex’s board and are expected to be completed in the second half of 2026. The company will receive proceeds of about $1.5 billion for its OEM business and $530 million for its Acute Care and Interventional Urology Businesses. Teleflex will receive net proceeds of about $1.8 billion after tax.

The company mainly plans to use the net proceeds to return significant capital to shareholders through share repurchases and pay down debt, enhancing its financial flexibility to support its growth strategy.

“Over the past year, we have executed a clear strategy to optimize our portfolio and best position Teleflex for the future, with a focus on driving growth across our core critical care and high acuity hospital markets,” said Liam Kelly, Teleflex’s chairman, president, and CEO. “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. Further, following these transactions, Teleflex will have increased flexibility to invest in innovation and compete in these priority markets. We are confident in mid-single-digit growth for Teleflex as we streamline our operations and focus the organization on commercial excellence, enabling us to drive enhanced value for our shareholders and deliver for our customers and the patients they serve. We are also better positioned to return significant capital to our investors.”

Montagu and Kohlberg’s deal for Teleflex Medical OEM

Teleflex Medical OEM develops and supplies custom-engineered interventional catheter components and sub-assemblies, as well as surgical fibers and sutures, for treatment areas including structural heart, neurovascular, electrophysiology, and urology. The company boasts seven facilities across the U.S., Mexico, and Ireland and has complex extrusion expertise, breadth of offering, and a vertically integrated operating model.

After the transaction’s expected closing in the second half of 2026, the company will operate as an independent, global contract developer and manufacturer. Greg Stotts, who joined Teleflex in 2006 and is currently the company’s president and general manager, will become CEO of the company at that time.

Stott boasts over 30 years of industry sales, marketing, sales operations, and manufacturing expertise to his new role.

“This is a momentous milestone for our team and our customers, and we are excited to work with the Montagu and Kohlberg team to shape the future of Teleflex Medical OEM,” Stott told the press. “As a focused, independent company backed by experienced healthcare investors, we will accelerate investment in innovation, quality systems and capacity while continuing to deliver the reliability and engineering depth our customers expect.”

The two firms believe their complementary carve-out and value creation expertise will help ensure Teleflex Medical OEM transitions to an independent company while speeding growth by expanding its customer base, investing in innovation, people, processes and capabilities.

Kohlberg operating partner Matt Jennings will become chairman of the company once the transaction has closed.

“Medical device companies are increasingly under pressure to optimize their portfolios and consolidate supply chains to create value for their patients and shareholders,” Jennings said. “Teleflex Medical OEM has proven itself as a differentiated, integrated, and compliant business uniquely positioned to create long-term mutually beneficial contract development and manufacturing partnerships with customers. We look forward to supporting Greg and the entire Teleflex Medical OEM team to create a bright future for all company stakeholders as the business scales.”

“We have followed Teleflex Medical OEM for several years, giving us real insight into the caliber of the organization and the opportunity that lies ahead as an independent company,” added Montagu partner Adrien Sassi. “Over the last decade, Teleflex Medical OEM has built a reputation as a leading strategic supplier in the global medtech value chain, known for its engineering support, reliability, and quality. Working with Kohlberg, we look forward to leveraging our carve-out expertise, built through decades of transaction experience, and our strong track record in driving growth acceleration in medical device platforms, to support Greg and his team in unlocking the full potential of the company.”