Teleflex (TFX) Morgan Stanley 23rd Annual Global Healthcare Conference summary

Strategic separation and organizational changes

• Announced business separation into SpinCo and RemainCo, with parallel paths for a sale or spin, targeting completion in 2026.

• Majority of inbound interest is for the entirety of NewCo, with both financial sponsors and strategics involved.

• Proceeds from a sale would be used to pay down debt and return capital to shareholders.

• Management teams for both entities have been identified, and data rooms and presentations are ongoing.

• Focus remains on maximizing shareholder value and tax efficiency.

Integration and performance of vascular business

• Integration of the vascular business is progressing well, with strong collaboration and no surprises after 10 weeks.

• Business expected to deliver over $200 million in the second half of the year, with $99 million in Q3.

• Key leadership has transferred, and team morale is positive with low attrition.

• Product and geographic synergies identified, including cross-selling and expanded market access.

• Sales teams are being cross-trained, territories optimized, and direct channels expanded for growth.

Innovation and product pipeline

• Freesolve, a bioresorbable magnesium scaffold, is in European trials and will begin US trials in 2026.

• Freesolve offers a "leave nothing behind" solution, addressing key trends in interventional cardiology.

• Investor Day planned in the fall to showcase BIOTRONIK assets and Freesolve.

• New products in the pipeline for surgical business, including an automatic polymer applier and new clip, expected in 2026-2027.