Teleflex To Divest Certain Respiratory Assets To Medline For $286M
- Teleflex Incorporated (NYSE: TFX) has agreed to sell a significant portion of its Respiratory business to Medline Industries Inc for $286 million in cash, reduced by $12 million in working capital not transferring to Medline.
- The divested product lines include oxygen and aerosol therapy, active humidification, non-invasive ventilation, and incentive spirometers.
- The products had generated $139 million in revenue in 2020.
- The transaction is expected to close in the third quarter of 2021.
- Teleflex estimates a revenue headwind of $28 million - 32 million and adjusted EPS dilution of $0.10 - $0.15 in 2021, net of a manufacturing services agreement that it plans to enter into with Medline upon the initial closing of the sale transaction.
- The Company will use the divestiture proceeds to pay down debt.
- Price Action: TFX shares closed at $393.24 on Monday.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: BriefsEarnings M&A News Guidance Health Care Asset Sales General
