Medical technology company Teleflex signed a definitive agreement to sell part of its respiratory business to medical supplier Medline Industries, according to a May 18 press release.
The transaction is expected to close in the third quarter of this year and generate $286 million. Some of the product lines that Teleflex will divest include oxygen and aerosol therapy, active humidification, noninvasive ventilation, and incentive spirometers. These products generated $139 million in revenue in 2020. Teleflex entered the agreement with Medline to pay down debt and drive focus toward achieving long-term goals for the company.