Teleflex announced that it plans to separate its Urology, Acute Care, and OEM businesses in to a new, independent, publicly traded company. For the time being, the new company will be called NewCo and the remaining Teleflex businesses will be called RemainCo.

The company also announced that it will acquire Biotronik’s Vascular Intervention business for an estimated €760 million. The acquired business will expand the Teleflex Interventional portfolio to include a broad suite of vascular intervention devices such as drug-coated balloons, drug-eluting stents, covered stents, balloon and self-expanding bare metal stents, and balloon catheters.

“We are excited to announce the acquisition of BIOTRONIK’s Vascular Intervention business, which we anticipate will significantly enhance our global presence in the cath lab, expand our suite of innovative technologies, and improve patient care” said Liam Kelly, chairman, president, and CEO of Teleflex. “We believe the acquisition will allow us to position this advanced coronary portfolio alongside our existing Interventional business and establish our global footprint in the fast-growing peripheral intervention market. In particular, the acquired coronary products will be highly complementary to our well-established complex percutaneous coronary intervention (PCI) platform and expand and enhance the legacy Interventional salesforce and offerings by combining existing Teleflex access products with the Vascular Intervention therapeutic devices. The acquired business is rooted in robust research and development, clinical expertise, and global manufacturing capabilities, which we believe will further bolster Teleflex’s innovation pipeline, and position the company to participate in the emerging potential for resorbable scaffold technologies. We believe the acquired business will be a meaningful contributor to our growth in the coming years, diversify our geographic revenue mix with 50% of the acquired revenues generated in EMEA, and provide additional scale for investment into innovation.”

RemainCo posted about $2.1 billion of revenue in 2024—pro forma because of the acquisition of Biotronik’s business. It will focus on tech used in procedures performed in the intensive care unit, emergency department, catheter lab, and operating room. Its three businesses will be Vascular Access (critical care therapies for vascular conditions), Interventional (treatment of coronary and peripheral vascular disease), and Surgical (single-use and reusable devices for surgical procedures).

Liam Kelly will continue to lead RemainCo as chairman, president, and CEO.

NewCo generated about $1.4 billion of revenue in 2024. Its businesses will consist of Urology (Interventional Urology and bladder management portfolios), Acute Care (anesthesia and respiratory products, intra-aortic balloon pumps), and OEM (design, manufacture, and supply of devices and instruments for other medical device manufacturers).

Teleflex will begin an executive search for NewCo key management positions soon. Its board of directors, management, and headquarters will be announced as they are finalized. The transaction is expected to be completed in mid-2026.

“The decision to pursue this separation was driven by our active portfolio management process and focus on driving shareholder value,” said Kelly. “Following the separation, RemainCo will be well-positioned to accelerate growth in attractive, primarily hospital-focused, emergent end markets, with a simplified operating model, streamlined manufacturing footprint and increased management focus. We expect RemainCo to have increased flexibility to invest in and better compete in the markets in which it will operate with a focus on enhanced innovation. We believe NewCo will also emerge poised to deliver greater value via its enhanced ability to identify, invest in, and capitalize on the opportunities unique to its end markets. This transaction is designed to optimize the positioning of both companies in order to better meet the needs of patients and customers and maximize value for shareholders.”