09:42 AM EST, 02/27/2025 (MT Newswires) -- Teleflex ( TFX ) said Thursday its board has authorized its management to pursue a plan to separate the Urology, Acute Care, and OEM segments into a publicly traded company.

The deal is expected to be via a distribution of newly issued shares of NewCo to shareholders that will be tax-free for US tax purposes, the company said, adding it expects the transaction to be completed in mid-2026.

Teleflex ( TFX ) shares were falling past 18% in Thursday early trading.

Price: 145.46, Change: -32.17, Percent Change: -18.11