Teleflex has announced a plan to split its business into two separate independent companies—and it’s setting up one of its future scions with a new portfolio of cardiovascular device assets, set to be acquired from Biotronik.
Teleflex agreed to buy “substantially all” of the German devicemaker’s vascular intervention catalog for the cath lab in a deal worth about 760 million euros, or about $791 million U.S.
That includes drug-coated balloons and stents for the heart and limbs, as well as a range of bare-metal scaffolds, plus Biotronik’s PK Papyrus covered rescue stent for sealing off vessel perforations during coronary procedures.
“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,” Teleflex President and CEO Liam Kelly said in a statement.
“In particular, the acquired coronary products will be highly complementary to our well-established complex percutaneous coronary intervention platform and expand and enhance the legacy Interventional salesforce and offerings by combining existing Teleflex access products with the Vascular Intervention therapeutic devices,” Kelly added.
Teleflex will also have the chance to further develop Biotronik’s Freesolve metallic drug-eluting and resorbable stent, which received a CE Mark approval in Europe in 2024 for coronary artery lesions. An ongoing study in Europe comparing it to Abbott’s Xience drug-eluting stent is set to report results in 2027, and Teleflex said it may also pursue a U.S. green light.
“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 [Europe, the Middle East and Africa], and provide additional scale for investment into innovation,” Kelly said.
With that deal set to close by the end of 2025’s third quarter, it won’t have much time to get to know the old Teleflex. By mid-2026, the company plans to split into two—tentatively known as NewCo and RemainCo.
NewCo will carry forward Teleflex’s interventional urology, acute care and device manufacturing businesses, with an OEM unit specializing in custom extrusions, tubing, catheters, introducers, balloons, wires and sutures, among other hardware.
Other products include the UroLift and Barrigel therapies, the latter urologic spacer being acquired in mid-2023 through a $650 million buyout of Palette Life Sciences. Acute care, meanwhile, spans anesthesia and respiratory systems, such as laryngoscopes, airways and endotracheal tubes. All told, those divisions brought in about $1.4 billion in 2024 revenue. NewCo will also establish a new leadership team and headquarters and will take control of 12 of Teleflex’s 19 manufacturing locations.
RemainCo, to be led by Kelly, will house Biotronik’s upcoming additions as well as Teleflex’s vascular access devices and surgical instruments—which together totaled about $2.1 billion in pro forma sales across the two companies in 2024.
“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,” Kelly said.
Biotronik, meanwhile, aims to gain from a renewed focus on implantable devices and digital health solutions, such as its cardiac pacemakers, remote monitors and cardioverter defibrillators, as well as its spinal cord stimulators for chronic pain.
“We are incredibly proud of the transformative contributions our Vascular Intervention division has made to interventional therapies and patient care worldwide,” said Biotronik Group CEO Alexander Uhl. “As healthcare continues to rapidly evolve, our focus is firmly on advancing AI-driven technologies that meet the needs of both patients and clinicians in the years to come.”
Teleflex also announced its 2024 earnings results, with $3.04 billion in total revenues resulting in a 2.4% gain over the prior year, including $795.4 million in fourth-quarter sales. Net income for the year weighed in at $69.7 million, despite a fourth-quarter net loss of $136.6 million.