Medical device maker Teleflex to split lower growth units
Feb 27 (Reuters) - Medical equipment maker Teleflex (TFX.N), opens new tab said on Thursday it would split into two companies, retaining three of its segments along with its recently acquired $800 million business, while separating its slower-growing divisions.
Shares of the company were down 12% in premarket trade after it also forecast its adjusted profit below Wall Street estimates.
After the split, Teleflex would focus on devices for bloodstream and heart procedures, along with medical imaging, while separating its urology, acute care and OEM units.
The urology unit has been experiencing lower sales from its UroLift device for enlarged prostate treatment, while the OEM or the contract instrument manufacturing division recently lost a customer.
A total of 12 out of 19 manufacturing facilities will be transferred to the new company.
Teleflex also plans to boost the remaining business by buying Germany-based Biotronik's blood vessel device unit for about 760 million euros ($796.3 million) in cash.
It said the separation will allow each company to simplify operations, streamline manufacturing, allocate resources more effectively and increase management focus.
Liam Kelly will stay as Teleflex CEO, and the company intends to initiate an executive search for key management positions at the spun-off business shortly.
Teleflex said it would distribute shares of the spun-off company to shareholders and expects the separation to be completed in mid-2026.
Separately, the Wayne, Pennsylvania-based company expects adjusted per-share profit for 2025 in the range of $13.95 to $14.35, below analysts' average estimate of $15.23 as per data compiled by LSEG.
The company also said its Chief Financial Officer Thomas Powell will retire, and be replaced by accounting chief John Deren.
($1 = 0.9544 euros)
Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
22 minutes ago
- Reuters
Frasers Group explores bid for Revolution Beauty, Sky News reports
June 7 (Reuters) - Frasers (FRAS.L), opens new tab Group has approached British makeup and skin care retailer Revolution Beauty (REVB.L), opens new tab about a potential offer for the company, Sky News reported on Saturday, citing retail industry sources. Reuters could not immediately confirm the report.
NBC News
an hour ago
- NBC News
At least 1.7 million eggs recalled as the CDC and FDA investigate multistate Salmonella outbreak
The Centers for Disease Control and Prevention and the U.S. Food and Drug Administration are investigating a multistate Salmonella outbreak linked to at least 1.7 million eggs, according to a news release issued on Saturday. The brown cage free and brown certified organic eggs were distributed by the August Egg Company from February 3 through May 15 to retailers in nine states — California, Nevada, Washington, Arizona, Nebraska, New Mexico, Illinois, Indiana and Wyoming, per the U.S. Food and Drug Administration. In an announcement issued Friday, the Hilmar, California-based distribution company recalled 1,700,000 eggs, which have sell by dates ranging from March 4 to June 19 and were sold at retailers including Walmart and Safeway, as well as under many different brands that can be seen here. So far, the outbreak has sickened 79 people in New Jersey, Kentucky, Nebraska, Nevada, Arizona, Washington and California, the CDC said. At least 21 people have been hospitalized, and no deaths have been reported. "This outbreak may not be limited to the states with known illnesses, and the true number of sick people is likely much higher than the number reported," the CDC said. "This is because many people recover without medical care and are not tested for Salmonella." Salmonella are bacteria that can make people sick if they consume contaminated food and water, or touch animals, their fecal matter or the areas they live in, according to the CDC. It is "a leading cause of food-borne illness, hospitalizations, and deaths in the United States and worldwide," causing about 1.35 million infections in the U.S. every year. Symptoms include diarrhea, fever, and stomach cramps and can start six hours to six days after consumption of the bacteria. Children under five, the elderly and people with weakened immune systems can become seriously ill as a result of contracting Salmonella. The CDC is advising anyone that has the recalled eggs in their home to throw them away or return them to the retailer that sold it to them. Businesses with recalled eggs should not sell or serve them, and should sanitize any item or surface that came into contact with the eggs. The August Egg Company said they began taking their eggs to an "egg-breaking facility" to pasteurize them and kill pathogens after learning about the Salmonella concern. "August Egg Company's internal food safety team also is conducting its own stringent review to identify what measures can be established to prevent this situation from recurring," the company said in a statement. "We are committed to addressing this matter fully and to implementing all necessary corrective actions to ensure this does not happen again." This isn't the only Salmonella outbreak the U.S. is currently grappling with. Last month, the FDA announced a recall of cucumbers grown by Bedner Growers and distributed by Fresh Start Produce Sales due to a Salmonella outbreak that has sickened 45 people and hospitalized 16 across 18 states. The FDA's investigation into the cucumbers is ongoing.
The Independent
4 hours ago
- The Independent
Musk was Trump's tweeter-in-chief. Now he's using X against him
Elon Musk's X profile is like a window into his psyche: an inescapable stream of consciousness where impulsive tweets reveal his unfiltered thoughts and shifting moods. Musk harnessed his social media platform to propel Donald Trump to the White House, feeding anti-Democrat content and election conspiracy theories to his followers. Now Musk is turning that same platform – home to nearly 600 million monthly users – against him. After posting earlier in the week that Trump's signature budget policy was a 'disgusting abomination' that will 'drive America into debt slavery', the billionaire is openly taunting Trump on X, even calling for his impeachment. An analysis of Musk's tweets by The Independent shows that Musk has undergone a dramatic shift in both the tone and volume of his posts since his initial support of Trump in mid-2024 to when he began distancing himself from his governmental duties earlier this year – weeks before the White House announced his Washington tenure had finished. And now the platform has chronicled the rise and fall of the world's most powerful bromance. Musk began tweeting incessantly after he publicly endorsed Trump in July last year following the first attempt on the president's life in Butler, Pennsylvania. Then, once Musk was tapped in November to lead the Department of Government Efficiency, he emerged as Trump's tweeter-in-chief. Despite his new White House commitments, not to mention running six companies – including SpaceX, Tesla, and X itself – Musk appeared more glued to his keyboard than ever, using the platform as his primary news source, and place to share his views and stir up controversy. The first 50 days of the Trump administration arguably marked Musk's most fervent display of support for the president, both in terms of tweet content and frequency. On February 7, he mused that, 'I love @realDonaldTrump as much as a straight man can love another man.' Take President's Day, February 17, his most prolific 24-hour posting spell to date. Musk posted 262 times, according to The Independent 's analysis, with messages ranging from single emojis to lengthy missives attacking Democrats. All told, the posting spree equated to one message every five-and-a-half minutes, with no breaks. Musk had a busy Q1 — between January 20 and March 10, he posted 6,778 times – averaging more than 135 X posts per day. And he stayed on message, tweeting about his government-slashing force DOGE more than any other topic in that period, quickly followed by 'Trump' and 'president.' Social media analytics firms like Social Blade were forced to stop tracking tweets after X said these businesses had to pay for an Enterprise subscription, at $42,000 to $210,000 a month. The resulting gap has made transparency on X murkier than ever; and is also why The Independent could only analyze Musk's posts until mid-March. In early spring, Musk's public pledges of MAGA allegiance and trollish squibs began to slow down, and the subjects of his posts moved from Trump administration duties to his own commercial interests. Buyers of his electric vehicles protested against his shift to right-wing politics and efforts to dismantle federal departments, with Tesla's stock price plummeting, and a Rome dealership set ablaze. In April, Musk announced plans to significantly reduce his involvement with DOGE, opting to work remotely and allocate more time to Tesla. A month later, Musk's X daily posts at points reached single figures. In hindsight, it might be considered the calm before the storm. By the end of May, Musk came off the platform to deliver a gut punch to the Trump administration. He told NBC News that Trump's showpiece tax bill 'undermines' the work done by DOGE, without directly mentioning the president. Musk landed a heavy blow on Tuesday, blasting the president's 'Big, Beautiful Bill' as an 'outrageous, pork-filled, disgusting abomination.' But it was after a press conference with the German Chancellor where Trump said he was 'disappointed' with Musk's comments, that Musk went on his most destructive X rampage yet — calling Trump ungrateful, calling for his impeachment and saying he's linked to Jeffrey Epstein. And these claims get read and spread by a wide audience: his Thursday post declaring 'Trump would have lost the election' if it weren't for his support garnered nearly 15 million views in a single day. This is more than just a playground spat between the two rich powerful men, because Musk's ownership of X allows him to reach a vast audience, some of whom are skeptical of mainstream media, and control a narrative — and his posts have been known to set off market reactions, media cycles, and political waves. Those who have stuck with X, whether they are one of Musk's 220 million followers or not, have been inundated with his musings and attacks morning, noon, and night. Musk is believed to selectively issue suspensions and use algorithms to throttle foes that are critical of both him and his ventures. According to the tech news site Platformer, the self-styled 'free speech absolutist' directed a team of 80 engineers to amplify his own tweets over others, ensuring they reach vast audiences (he allegedly did the same for Trump in November). Musk has subsequently blurred the line between platform owner, political provocateur and propagandist. How will he next use X to punish the social media-reliant, legacy media-averse president?
