NEW YORK, N.Y. — Private equity firms Montagu and Kohlberg have entered into a definitive agreement to acquire Teleflex Medical OEM from Teleflex Incorporated in a carve-out transaction valued at $1.5 billion. The deal, announced Monday, is expected to close in the second half of 2026 pending regulatory review and other customary approvals.
Teleflex Medical OEM has supplied engineered components for interventional catheters, along with surgical fibers and sutures, for more than four decades. Its products are used in treatment areas such as structural heart disease, neurovascular procedures, electrophysiology and urology. The company operates seven manufacturing facilities in the United States, Mexico and Ireland and serves medical device manufacturers worldwide.
Once the transaction closes, Teleflex Medical OEM will operate as an independent contract developer and manufacturer. Greg Stotts, currently the division’s president and general manager, will become chief executive officer. Stotts joined Teleflex in 2006 and has held senior roles in sales, marketing, operations and manufacturing.
“This is a momentous milestone for our team and our customers, and we are excited to work with the Montagu and Kohlberg team to shape the future of Teleflex Medical OEM,” Stotts said. “As a focused, independent company backed by experienced healthcare investors, we will accelerate investment in innovation, quality systems and capacity while continuing to deliver the reliability and engineering depth our customers expect.”
Montagu and Kohlberg said their experience in carve-outs and medical device companies positions them to support the transition to standalone operations and future expansion.
Adrien Sassi, Partner at Montagu, said the firm has followed Teleflex Medical OEM “for several years,” adding, “Over the last decade, Teleflex Medical OEM has built a reputation as a leading strategic supplier in the global medtech value chain, known for its engineering support, reliability, and quality. Working with Kohlberg, we look forward to leveraging our carve-out expertise, built through decades of transaction experience, and our strong track record in driving growth acceleration in medical device platforms, to support Greg and his team in unlocking the full potential of the company.”
Matt Jennings, Operating Partner at Kohlberg, will become chairman after the transaction closes. “Medical device companies are increasingly under pressure to optimize their portfolios and consolidate supply chains to create value for their patients and shareholders,” Jennings said. “Teleflex Medical OEM has proven itself as a differentiated, integrated, and compliant business uniquely positioned to create long-term mutually beneficial contract development and manufacturing partnerships with customers.”
Chris Anderson, Senior Partner at Kohlberg, said the company is well positioned as it prepares to operate independently. “Teleflex Medical OEM is an exceptional platform trusted by its customers for its quality, service and delivery,” he said. “The Company is ideally suited to benefit from Kohlberg’s expertise supporting market-leading healthcare platforms, drawing on our deep network of operating executives and our ecosystem of investments and industry relationships.”
Raymond James acted as exclusive financial adviser on the transaction, while Kirkland & Ellis and Ropes & Gray served as legal counsel to Montagu and Kohlberg.
