Teleflex makes and sells single-use medical devices used in hospitals for critical care and surgical procedures. The company's continuing operations are organized around three categories: Vascular, Interventional, and Surgical. Vascular — the largest category — includes the Arrow-branded central venous catheters, the EZ-IO intraosseous access system for emergency drug delivery, and QuikClot hemostatic products. Interventional covers devices used by cardiologists and vascular surgeons to diagnose and treat coronary and peripheral vascular disease, including complex coronary catheters, the MANTA vascular closure device, and — following the 2025 acquisition of BIOTRONIK's Vascular Intervention business — drug-coated balloons, drug-eluting stents, and peripheral intervention products; the combined Interventional business generates roughly $1B in annual revenue. Surgical includes ligating clips, fascial closure systems, the Titan SGS bariatric stapler, and ENT and thoracic instruments. Teleflex sells primarily to hospitals through a direct sales force, supplemented by distributors internationally. Because devices are single-use, revenue is driven by procedure volume rather than capital equipment cycles. Teleflex is in the middle of a significant portfolio restructuring: it has signed agreements to sell its Acute Care, Interventional Urology, and OEM businesses for roughly $2B in total proceeds, with both deals expected to close in 2026. Teleflex plans to use net after-tax proceeds to repurchase $1B in stock and repay roughly $800M in debt. Post-separation, Teleflex targets an adjusted operating margin of roughly 23% and plans to nearly double R&D spending to roughly 8% of sales.