Teleflex rises after co to sell three of its businesses for $2.03 billion

Shares of medical device maker Teleflex TFX.N rise 5.5% to $125.34 premarket

Teleflex says it will sell three of its business units for a combined total of $2.03 billion in cash

TFX says it will sell its Acute Care and Interventional Urology units to Intersurgical and its original equipment manufacturer unit to private equity firms Montagu and Kohlberg

The transactions, which were approved by Teleflex's Board of Directors, are expected to complete in H2 2026, subject to customary regulatory approvals

Separately, Teleflex has also authorized a share repurchase program for up to $1 billion of the company's common stock

Up to last close, stock down 32.7% YTD