Teleflex has announced plans to restructure its operations by creating two independent businesses, a move driven in part by its recent €760 million ($791 million USD) acquisition of Biotronik’s vascular intervention product line. The transaction grants one of Teleflex’s future spin-off companies control over key cardiovascular assets.
Teleflex’s acquisition includes Biotronik’s drug-coated balloons, stents for both coronary and peripheral interventions, and an array of bare-metal scaffolds. Additionally, the deal brings Biotronik’s PK Papyrus covered rescue stent into Teleflex’s portfolio, a critical device for preventing vessel perforations during cardiac procedures.
According to Teleflex CEO Liam Kelly, the acquisition enhances the company’s position in coronary and peripheral interventions by integrating Biotronik’s cutting-edge products with Teleflex’s existing interventional portfolio. This move is expected to strengthen both companies’ sales forces through synergies between Teleflex’s vascular access systems and the newly acquired Biotronik devices.
One of the key assets in the acquisition is Biotronik’s Freesolve drug-eluting resorbable stent, which received its CE mark in 2024 for treating coronary artery lesions. Teleflex now has the opportunity to further develop and commercialize Freesolve, with clinical trial results comparing it to Abbott’s Xience stent expected by 2027. Teleflex also intends to pursue U.S. regulatory approval for the product, expanding its global market footprint.
Kelly emphasized that the acquired Biotronik business will drive significant revenue growth, particularly in EMEA markets, while providing additional capital for future innovation.
Formation of NewCo and RemainCo
The deal also aligns with Teleflex’s broader restructuring strategy, which will culminate in the creation of two independent companies by mid-2026:
NewCo: This entity will oversee Teleflex’s interventional urology, acute care, and device manufacturing businesses, including its OEM unit responsible for producing catheters, tubing, introducers, balloons, wires, and sutures. NewCo will also manage UroLift and Barrigel therapies, acquired via Teleflex’s $650 million buyout of Palette Life Sciences in 2023. Acute care, including anesthesia and respiratory systems, contributed $1.4 billion to Teleflex’s 2024 revenue. NewCo will establish its own leadership team while operating from 12 of Teleflex’s 19 manufacturing sites.
RemainCo: Led by Kelly, this entity will focus on Teleflex’s vascular access devices, surgical instruments, and future Biotronik acquisitions. RemainCo’s expected 2024 pro forma sales stand at $2.1 billion. Kelly envisions a leaner, more focused structure that will enhance efficiency and accelerate growth in hospital-focused markets.
Teleflex’s 2024 earnings report showcased total revenues of $3.04 billion, reflecting a 2.4% annual increase. Fourth-quarter revenue reached $795.4 million, though the company ended the year with a net loss of $136.6 million.
The Biotronik acquisition is set to close in the third quarter of 2025, allowing limited time for integration with existing Teleflex operations. By mid-2026, NewCo and RemainCo will fully operate as separate entities, each focusing on distinct market opportunities within the medical technology sector.
Teleflex Restructures Amidst €760 Million Biotronik Deal, Paving the Way for Two Independent Businesses
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