Teleflex Incorporated (NYSE: TFX) issued a statement responding to criticism from activist investor Irenic Capital Management, defending its strategic approach and portfolio optimization efforts.

The medical technology company said Irenic mischaracterized discussions between the parties and made false statements about the board's approach to potential acquisition offers. Teleflex stated it has not rebuffed approaches from potential acquirers or received proposals to acquire its remaining business after planned divestitures.

Teleflex announced in December 2025 agreements to sell its Acute Care, Interventional Urology and OEM businesses as part of a transformation plan. The sale transactions are expected to close in the second half of 2026, generating approximately $1.8 billion in net proceeds after tax.

The company plans to use $1.0 billion of the proceeds for share repurchases and $800 million for debt reduction. The strategy aims to create a more focused medical technologies company with higher forward revenue growth in critical care and hospital markets.

In July 2025, Teleflex completed the acquisition of BIOTRONIK's Vascular Intervention business to expand its coronary intervention portfolio and establish presence in the peripheral intervention market.

Interim CEO Stu Randle has developed a multi-year restructuring plan expected to achieve approximately $50 million in annual pre-tax cost savings upon completion in mid-2028, with partial savings beginning in 2026.

The board is conducting a CEO search while focusing on completing the divestitures and operational separation of the businesses being sold. J.P. Morgan Securities serves as financial advisor, with Simpson Thacher & Bartlett as legal advisor.