By Colin Kellaher

Teleflex shares tumbled to a 52-week low on Thursday after the medical-technology company posted disappointing financial guidance and unveiled plans for a nearly $800 million acquisition and a spinoff of some of its businesses.

Shares of the Wayne, Pa., company were recently changing hands at $138.42, down 22%, after touching a 52-week low of $137 earlier in the session.

Teleflex said it has agreed to buy to the vascular-intervention business of Germany's Biotronik for 760 million euros ($792 million) in cash in a deal slated to close by the end of the third quarter.

The company said it also plans to spin off its urology, acute-care and OEM businesses into an independent, publicly traded company.

Teleflex said the remaining company will consist of its vascular access, interventional and surgical businesses, including the acquired Biotronik operations, and will be positioned to accelerate growth in primarily hospital-focused emergent end markets.

Teleflex said the remaining company had pro-forma 2024 revenue of about $2.1 billion, including the Biotronik business, while the spinoff had about $1.4 billion in revenue last year.

The company said it expects to complete the tax-free spinoff by mid-2026.

Separately, Teleflex said it expects 2025 adjusted earnings of $13.95 to $14.35 a share, below the $15.17 that analysts polled by FactSet, on average, were expecting.

The company also said it expects revenue this year will be down of 0.4% to up 0.7% from the $3.05 billion in posted in 2024. Wall Street had penciled in 2025 revenue of $3.22 billion, implying expectations of 5.6% growth.

Write to Colin Kellaher at colin.kellaher@wsj.com

-0-

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

February 27, 2025 11:06 ET (16:06 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.