Teleflex to spin-off into two publicly traded companies.

Teleflex, a provider of medical technologies, agreed to spin-off into two independent publicly traded companies. The first company ("RemainCo") will focus on Vascular Access, Interventional, and Surgical businesses, targeting high-growth, hospital-focused emergent end markets. The second company ("NewCo") will encompass Teleflex's Urology, Acute Care, and OEM businesses. “The decision to pursue this separation was driven by our active portfolio management process and focus on driving shareholder value. 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," Liam Kelly, Teleflex Chairman, President and CEO.