Profile: Teleflex Inc (TFX.N)
Teleflex Incorporated (Teleflex), incorporated in 1943, is a global provider of medical technology products. The Company develops, manufactures and supplies single-use medical devices used to provide access to the body for common diagnostic and therapeutic procedures in critical care and surgery. It serves hospitals and healthcare providers in more than 130 countries. Its aerospace products include cargo-handling systems, containers and pallets for commercial air cargo. Its commercial products include driver controls, engine assemblies and drive parts for the marine industry. Teleflex provides a range of medical technology products, which it categorizes into four groups: Critical Care, Surgical Care, Cardiac Care and original equipment manufacturer (OEM) and Development Services. The Company operates in three segments: Medical, Aerospace and Commercial. During the year ended December 31, 2010, its Medical Segment represented 80% of its revenues. During 2010, its Aerospace and Commercial segments represented 10% and 10% of revenues, respectively. On January 10, 2011, the Company acquired VasoNova Inc. On March 22, 2011, the Company completed the sale of its Marine business to an affiliate of H.I.G. Capital, LLC. On December 31, 2010, the Company completed the sale of the Actuation business of its subsidiary Telair International Incorporated to TransDigm Group, Incorporated. On June 25, 2010, the Company completed the sale of its rigging products and services business (Heavy Lift) to Houston Wire & Cable Company. On March 2, 2010, it completed the sale of its SSI Surgical Services Inc. business (SSI), a reporting unit within its Medical Segment, to healthcare company. In May 2012, the Company acquired the EZ-Blocker disposable catheter product line with a bifurcated distal end. In July 2012, the Company acquired Hotspur Technologies, Inc. In August 2012, the Company completed the sale of its OEM Orthopedics business to Tecomet. In October 2012, the Company acquired LMA International N.V. and the LMA branded laryngeal mask supraglottic airway business and certain other products of Intavent Direct Limited and its affiliates. In June 2013, Teleflex Inc acquired Eon Surgical, Ltd. In June 2013, Teleflex Inc acquired the assets of Ultimate Medical and its affiliates. In June 2013, Teleflex Inc acquired EON Surgical Ltd. In December 2013, Teleflex Inc completed acquisition of Vidacare Corporation.
The Company’s Medical Segment designs, develops, manufactures and supplies medical devices for critical care and surgical applications. During 2010, approximately 50% of its segment revenues are derived from customers outside the United States. Its Medical Segment operates 30 manufacturing sites, with major manufacturing operations located in Czech Republic, Malaysia, Mexico and the United States.
During 2010, critical care is consisted of single use products, constitutes product category within its Medical Segment, representing 66% of segment revenues. Its medical products are used in a range of critical care procedures for vascular access, respiratory care, anesthesia and airway management, treatment of urologic conditions and other specialty procedures. It is a provider of specialty products for critical care. Its products are marketed under the brand names of Arrow, Rusch, HudsonRCI, Gibeck and Sheridan.
During 2010, the Company’s vascular access products, which accounted for 29% of Medical Segment revenues in 2010, are catheter-based products used in a range of clinical procedures to facilitate multiple critical care therapies, including the administration of intravenous medications and other therapies, and the measurement of blood pressure and taking of blood samples through a single puncture site.
The Company’s vascular access catheters and related devices consist of central venous access catheters, such as the Arrow-Howe’s Multi-Lumen Catheter, a catheter equipped with three or four channels, or lumens; double-and single-lumen catheters, which are designed for use in a range of clinical procedures; the Arrow Pressure Injectable CVC, which gives clinicians who perform computed tomography (CT) scans the option of using an indwelling pressure injectable Arrow CVC without having to insert another catheter for their scan; and percutaneous sheath introducers, which are used as a means for inserting cardiovascular and other catheterization devices into the vascular system during critical care procedures.
The Company’s ARROWg+ard Blue Plus provides antimicrobial treatment of the interior lumens and hubs of each catheter. It also provides a range of peripherally inserted central catheters (PICCs), which catheters inserted in the upper arm and advanced into the superior vena cava and are accessed for administration of various types of intravenous medications and therapies. Its offerings include a pressure injectable peripherally inserted catheter. The PICC portfolio in the United States include ArrowEVOLUTION PICC with Chlorag+ard technology, a pressure-injectable PICC treated with a chlorhexidine-based solution from tip to hub on both the inner and outer lumen surfaces; a device utilizing Accelerated Seldinger Technique to make the placement of PICCs simpler; and The VasoNova Vascular Positioning System is a central venous catheter tip navigation system designed to provide clinicians precise and consistent placement of the catheter tip.
The Company’s Chlorag+ard is a coating technology for use on peripherally inserted central catheters. Its ErgoPack system is offered for CVC, PICC, MAC and Acute Hemodialysis product offerings. Its vascular access products also include specialty catheters and related products used in a range of other procedures and include percutaneous thrombolytic devices, which are designed for clearance of thrombosed hemodialysis grafts in chronic hemodialysis patients; hemodialysis access catheters, including the Cannon Catheter, which is used to facilitate dialysis treatment, and radial artery catheters, which are used for measuring arterial blood pressure and taking blood samples.
During 2010, the Company’s respiratory care products, which accounted for 12% of Medical Segment revenues, consist of devices used in aerosol and medication delivery, oxygen therapy and ventilation management. It offers a range of aerosol therapy products, including the Micromist Nebulizer for small volumes; the Neb-U-Mask System, which is a combination device, which enables concurrent delivery of aerosolized medications and concentrations of oxygen or heliox; and the Opti-Neb Pro Compressor, which is a compressor available with both reusable and disposable nebulizers. It is also a global provider of oxygen supplies, offering a range of products to deliver oxygen therapy. These include masks, cannulas, tubing and humidifiers. These products are used in a range of clinical settings, including hospitals, long-term care facilities, rehabilitation centers and patients’ homes to treat respiratory ailments, such as chronic lung disease, pneumonia, cystic fibrosis and asthma.
The Company’s ventilation management products promote patient safety and maximize clinician efficiency. These products include ventilator circuits with support clinical practice guidelines, high efficiency particulate air (HEPA) filters, which provide protection against the transmission of bacteria and viruses, heat and moisture exchangers. Its Gibeck HumidFlo heat and moisture exchanger, which enables medication to be delivered without breaking the breathing circuit or interrupting ventilation, and OSMO, a product, which enables maintenance free water removal from the expiratory limb of the breathing circuit during mechanical ventilation. Its ConchaTherm Neptune is a heated humidification solution. It is designed to enable the caregiver to customize patient treatment. During 2010, it launched the Gibeck Humid-Flo 72-Hour Passive Humidification Kit, an integrated system, which promotes practices for Ventilator Associated Pneumonia (VAP) risk reduction.
During 2010, the Company’s anesthesia and airway management products, which accounted for 15% of its Medical Segment revenues, include endotracheal tubes, laryngeal masks, airways and face masks to deliver anesthetic agents and oxygen. To assist in the placement of endotracheal tubes, it provides a range of laryngoscope blades and handles, including standard halogen and fiber optic light sources. Its Teleflex ISIS HVT features an integrated suction port and separate suction line allowing for subglottic secretion suctioning on demand. When needed, the suction tube attaches to the ISIS HVT through a locking connection. It also extended its tracheostomy product line offered in the Europe, the Middle East and Africa (EMEA region) with the introduction of Crystal Clear Trach and TracFlex Plus and its laryngeal mask product offerings with the introduction of SureSeal laryngeal mask with Cuff Pilot.
The Company’s regional anesthesia or acute pain management products include epidural, spinal and peripheral nerve block catheters. It offers the first stimulating continuous nerve block catheter, the Arrow StimuCath, which confirms the positive placement of the catheter next to the nerve. Its Arrow TheraCath epidural catheter, with direction-ability and radiopacity are for pain management procedures. In addition integral components create a range of standard and custom procedural kits.
During 2010, the Company’s line of urology products, which accounted for 10% of its Medical Segment revenues, provides bladder management for patients in the hospital and home care markets. Its product portfolio consists of a range of catheters (including Foley, intermittent, external and suprapubic), urine collectors, catheterization accessories and products for operative endurology marketed under the Rusch brand name. Its urology business in Europe and the United States also serves home care markets and patient care outside of the hospital. During 2010, surgical care, which is consisted of single use products, represented 18% of Medical Segment revenues. Its surgical products include ligation and closure products, including appliers, clips, and sutures used in a range of surgical procedures; access ports used in minimally invasive surgical procedures, including robotic surgery, and fluid management products used for chest drainage. Its surgical products also include hand-held instruments for general and specialty surgical procedures. It markets surgical products under the Deknatel, Pleur-evac, Pilling, Taut and Weck brand names.
During 2010, cardiac care products accounted for approximately 5% of Medical Segment revenues. Products in this category include diagnostic catheters and capital equipment. Its diagnostic catheters include thermodilution and wedge pressure catheters; specialized angiographic catheters, such as Berman and Reverse Berman catheters; therapeutic delivery catheters, such as temporary pacing catheters; and intra-aortic balloon (IAB), catheters. Capital equipment includes its intra-aortic balloon pump (IABP), consoles. IABP products are used to augment oxygen delivery to the cardiac muscle and reduce the oxygen demand after cardiac surgery, heart attack or interventional procedures. The IAB and IABP product lines include AutoCAT 2 WAVE console and the FiberOptix catheter, which together utilize fiber optic technology for arterial pressure signal acquisition and enable the patented WAVE timing algorithm to support the range of patient heart rhythms, including arrhythmic patients. During 2010, customized medical instruments, implants and components sold to OEMs, represented 11% of Medical Segment revenues. Under the Beere Medical, KMedic, Specialized Medical Devices, Deknatel and TFXOEM brand names, it provides specialized product development services, which include design engineering, prototyping and testing, manufacturing, assembly and packaging. The OEM category includes custom extrusion, catheter fabrication, introducer systems, sheath/dilator sets, specialty sutures, resins and performance fibers. It also provides machined and forged instrumentation for general and specialty procedures, Ortho-Grip instrument handles and fixation devices used for orthopedic procedures.
The Company’ s Aerospace Segment businesses provide cargo handling systems and equipment for wide body and narrow body aircraft and cargo containment devices for air cargo and passenger baggage. It is a global provider of cargo handling systems and equipment and cargo containers for commercial aircraft. Its brand names include Telair International and Nordisk. Its cargo-handling systems include on-board automated cargo-loading systems for wide-body aircraft, baggage-handling systems for narrow body aircraft, aftermarket spare parts and repair services. Marketed under the Telair International brand name, its wide-body cargo-handling systems are sold to aircraft OEM or to airlines and air freight carriers as seller and/or buyer furnished equipment for original installations or as retrofits for existing equipment.
Telair International is a supplier of main deck and lower deck cargo systems for the Boeing 747-8 airliner. Telair is also provider of lower deck systems for the Airbus A330/A340-200 and 300 aircraft. Telair also provides bin loading systems for Canadair (Bombardier) aircraft. In addition to the design and manufacture of cargo systems, it provides customers with aftermarket spare parts and repair services for their Telair systems.
The Company designs, manufactures and repairs unit loading devices (ULDs), which include both cargo containers and pallets. Its Nordisk Aviation Products subsidiary has the ULD product line in the industry and specializes in ULDs. Nordisk include the Ultralite 55 kilogram AKE container, which offers a weight reduction of approximately 25% compared to aluminum containers.
The Company’s Commercial Segment businesses design, manufacture and distribute steering and throttle controls and engine and drive assemblies for the recreational marine market. Its manufacturing operations are located in Canada, the United States and Singapore. During 2010, this product category represented 87% of the Commercial Segment revenues. Products in this category include shift and throttle cables; mechanical, hydraulic and electronic steering systems and throttle controls; engine drive parts; associated parts and products, and outdoor power components.
The Company is a provider of both mechanical and hydraulic steering systems and mechanical, hydraulic, and electronic throttle controls for recreational powerboats. It also is a distributor of engine assemblies and drive parts, which is marketed under the well-known Sierra brand name. Its marine products are sold to OEMs, such as SeaRay, Bayliner, Volvo Penta, Mercury and Yamaha; and to the aftermarket through distributors, dealers and retail outlets and are available at marinas and retail outlets, such as West Marine and Bass Pro Shops. Its product brands include Teleflex Marine, TFXtreme, SeaStar, BayStar and Sierra. It also manufactures and sells heaters, which provide cold weather auxiliary heating solutions for commercial vehicles under the Proheat name and burner units, which provides a heat source for military field feeding appliances.
The Company competes with C. R. Bard, Inc., Covidien, CareFusion, Goodrich Corporation, AAR Corp and Driessen Aerospace Group.
SUITE 400, 550 E SWEDESFORD RD
WAYNE PA 19087