By Colin Kellaher
Medical-technology company Teleflex said it plans to spin off its urology, acute-care and OEM businesses into an independent, publicly traded company.
Teleflex on Thursday said the remaining company, consisting of its vascular access, interventional and surgical businesses, will focus on high-growth, primarily hospital-focused emergent end markets.
The Wayne, Pa., company said it expect to complete the tax-free spinoff by mid-2026.
Teleflex said it expects the remaining company, with pro-forma 2024 revenue of about $2.1 billion, to generate constant-currency revenue growth topping 6%. The company said the spinoff had about $1.4 billion in revenue in 2024.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 27, 2025 07:42 ET (12:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.