May 19, 2021 – Teleflex Incorporated (Wayne, PA) announced it has entered into a definitive agreement to sell a significant portion of its Respiratory business to Medline Industries, Inc. (Northfield, OH) for $286 million in cash, reduced by $12 million in working capital not transferring to Medline.
The Teleflex respiratory product lines that will be divested include:
- Oxygen and aerosol therapy
- Active humidification
- Non-invasive ventilation
- Incentive spirometers
These lines generated $139 million in revenue in 2020.
The transaction is expected to close early in Q3 2021. Upon the initial close of the transaction, the company plans to enter a manufacturing services agreement with Medline.