Core Points - Teleflex Incorporated will host a conference call to discuss its second quarter financial results and provide an operational update on July 31, 2025 at 8:00 a.m. Eastern Time [1] - An audio replay of the call will be available starting at 11:00 a.m. Eastern Time on the same day [2] - Teleflex is a global provider of medical technologies focused on improving health and quality of life, with a diverse portfolio in various therapy areas [3] - The company is known for its trusted brands such as Arrow™, Barrigel™, Deknatel™, LMA™, Pilling™, QuikClot™ Rüsch™, UroLift™, and Weck™ [4]

Core Points - Stryker will report its financial results for the second quarter of fiscal year 2025 on July 31, 2025 [1] - A press release with summary financial information will be available at approximately 4:05 p.m. ET on the same day [1] - The company will host a webcast at 4:30 p.m. ET to discuss the second quarter results, with an archive available two hours after the live call [2] Company Overview - Stryker is a global leader in medical technologies, focusing on improving healthcare through innovative products and services in MedSurg, Neurotechnology, and Orthopaedics [3] - The company impacts over 150 million patients annually through its offerings [3]

Financial Data and Key Metrics Changes - The company reported a revenue of $800,000 for the last quarter, with a test volume of 3,034, which is at the upper end of the target range of 2,500 to 3,000 tests per quarter [9] - A significant balance sheet improvement was noted with a public offering netting $16,100,000, resulting in a pro forma cash position of $40,000,000 at the end of Q1, extending the runway well into 2026 [10] - The company achieved a large GAAP net income of $18,600,000 before non-controlling interest and preferred dividends, resulting in a positive primary EPS of $1.28 and a positive diluted EPS of $0.34 [22][23] Business Line Data and Key Metrics Changes - Lucid, the diagnostic subsidiary, is positioned to capitalize on a large clinical and market opportunity, with ongoing efforts to secure Medicare coverage [6][11] - Verus has restarted the development of a key implantable physiologic monitor, with favorable engagement from the FDA and a targeted filing for the first half of 2026 [12] - The incubator PMX is focusing on the PortIO implantable intraosseous device, with discussions ongoing with potential strategic partners [13] Market Data and Key Metrics Changes - The company is seeing momentum in new sales channels, particularly in concierge medicine and employer market contracts, which are expected to impact revenue in the second half of the year [10][11] - The company has a significant equity method investment balance of almost $47,000,000 reflecting a gain of $21,000,000 since year-end, representing an 82% increase in Lucid's stock price [18][19] Company Strategy and Development Direction - The company aims to diversify into the biopharma space, leveraging its infrastructure and management services model to pursue attractive biopharma assets [8][36] - The strategic vision includes expanding partnerships and exploring new opportunities while maintaining focus on existing subsidiaries like Lucid and Verus [53][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning and ability to execute on strategic initiatives, highlighting the strong relationships with key cancer centers and the positive feedback from pilot programs [30][31] - The management team believes that the current market conditions will not hinder their ability to raise capital, citing successful recent financings [46][48] Other Important Information - The company has deconsolidated Lucid from its financial statements, which has impacted the historical understanding of its financials [16][21] - The company continues to explore additional assets and opportunities to diversify its portfolio, with a focus on maintaining operational independence among its subsidiaries [8][40] Q&A Session Summary Question: Feedback from the pilot program - Management received excellent feedback from the pilot program, meeting all pre-specified performance metrics and demonstrating clinical success [29][30] Question: Exclusive rights to the platform - There are no exclusive rights limiting broader commercialization; the agreement allows for a registry and initial implantable procedures at the cancer center [32][33] Question: Strategic rationale for biopharma expansion - The company is leveraging its infrastructure and management services to pursue biopharma opportunities, which align with its history of adapting to market needs [36][39] Question: Impact of market volatility on capital raising - Management indicated that market volatility has not affected their ability to raise capital, with successful recent financings demonstrating investor confidence [46][48]

Core Insights - Stryker reported a consolidated net sales of $5.9 billion for Q1 2025, reflecting an increase of 11.9% compared to the previous year, with a constant currency growth of 12.8% [2][13] - The company achieved organic net sales growth of 10.1%, driven by a 9.4% increase in unit volume and a 0.7% increase in prices [2][13] - Adjusted net earnings increased by 14.0% to $1.1 billion, with adjusted earnings per diluted share rising by 13.6% to $2.84 [4][13] Sales Performance - MedSurg and Neurotechnology segment net sales reached $3.5 billion, up 13.4% year-over-year, with organic growth of 10.7% [2][3] - Orthopaedics segment net sales were $2.4 billion, reflecting a 9.7% increase, with organic growth of 9.3% [3][21] - The U.S. market contributed $4.44 billion in sales, a 13.4% increase, while international sales grew by 7.3% to $1.426 billion [22] Earnings Analysis - Reported net earnings decreased by 17.0% to $654 million, with diluted earnings per share falling by 17.6% to $1.69 [4][13] - The reported gross profit margin was 63.8%, while the adjusted gross profit margin improved to 65.5% [4][13] - Operating income margin was reported at 14.3%, with an adjusted operating income margin of 22.9%, an increase of 100 basis points [4][13] 2025 Outlook - The company raised its full-year 2025 organic net sales growth guidance to a range of 8.5% to 9.5%, reflecting strong demand for capital products [5][6] - Adjusted net earnings per diluted share guidance is now projected to be between $13.20 and $13.45, inclusive of dilution from the Inari Medical acquisition [6][5]

Financial Performance - Company reported net revenues of $700.7 million for the first quarter of 2025, a decrease of 5.0% compared to $737.8 million in the prior year period [8][34] - GAAP diluted earnings per share (EPS) from continuing operations was $2.07, compared to $0.33 in the prior year period [8][46] - Adjusted diluted EPS from continuing operations was $2.91, down from $3.21 in the prior year period [8][46] Revenue by Segment - In the Americas, net revenue was $475.7 million, down 3.7% from $494.0 million [5][34] - EMEA segment reported net revenue of $151.2 million, a decrease of 5.3% from $159.6 million [5][34] - Asia segment saw a decline of 12.4%, with revenues of $73.8 million compared to $84.2 million [5][34] Revenue by Product Category - Vascular Access category reported revenues of $182.4 million, a slight increase of 0.6% from $181.4 million [7][34] - Interventional category revenues increased by 2.1% to $137.5 million from $134.7 million [7][34] - Anesthesia revenues decreased by 10.1% to $86.6 million from $96.4 million [9][34] Guidance and Outlook - Company raised its full-year 2025 revenue growth outlook on a GAAP basis to a range of 1.28% to 2.28% [10][11] - Adjusted diluted EPS guidance for 2025 was lowered to a range of $13.20 to $13.60, down from $13.95 to $14.35 [11][12] - Expected impact from tariffs in 2025 is approximately $55 million, which will be recorded in cost of goods sold [8][11] Strategic Initiatives - Company is evaluating strategies to mitigate exposure to tariffs and remains focused on executing its plan for the year [3] - Plans to separate Teleflex into two independent publicly traded companies, with significant third-party interest in acquiring NewCo [3]

Company Overview - Teleflex Incorporated is a global provider of medical technologies focused on improving health and quality of life [2] - The company aims to become the most trusted partner in healthcare, offering a diverse portfolio in various therapy areas including anesthesia, emergency medicine, interventional cardiology, radiology, surgical, vascular access, and urology [2] Product Portfolio - Teleflex is home to several trusted brands such as Arrow™, Barrigel™, Deknatel™, QuikClot™, LMA™, Pilling™, Rüsch™, UroLift™, and Weck™, all united by a common purpose [3] Upcoming Events - Management of Teleflex will present at the BofA Securities 2025 Health Care Conference on May 14, 2025, at 1:40 p.m. (PT) [1] - A live audio webcast of the conference presentation will be available on the investor section of the Teleflex website [1]

Group 1 - Stryker will participate in the Bank of America Securities 2025 Global Healthcare Conference on May 13, 2025, in Las Vegas, Nevada [1] - The presentation will be led by Preston Wells, CFO, and Jason Beach, VP of Finance and Investor Relations, scheduled for 1:40 p.m. Pacific Time [1] - A live webcast and replay of the presentation will be available on Stryker's website and archived on the Investor Relations page [2] Group 2 - Stryker is a global leader in medical technologies, focusing on improving healthcare through innovative products and services in MedSurg, Neurotechnology, and Orthopaedics [3] - The company impacts over 150 million patients annually through its offerings [3] - Additional information about Stryker can be found on their official website [3]

Core Viewpoint - Teleflex Incorporated has announced a definitive agreement to acquire the Vascular Intervention business of BIOTRONIK SE & Co. KG for approximately €760 million, aiming to enhance its presence in the interventional cardiology and peripheral vascular market, which is estimated to be worth $10 billion [1][2]. Group 1: Acquisition Details - The acquisition is expected to close by the end of the third quarter of 2025, subject to customary closing conditions and regulatory approvals [1]. - The acquired business will expand Teleflex's portfolio to include a range of vascular intervention devices, with 75% of the acquired revenues coming from coronary interventions and 25% from peripheral procedures [2][3]. - Key products in the acquired portfolio include drug-coated balloons, drug-eluting stents, and various stent types for both coronary and peripheral interventions [2]. Group 2: Strategic Implications - The acquisition is anticipated to significantly enhance Teleflex's global presence in the cath lab and improve patient care through an expanded suite of innovative technologies [2]. - The integration of BIOTRONIK's products is expected to complement Teleflex's existing complex percutaneous coronary intervention (PCI) platform and diversify its geographic revenue mix, with 50% of the acquired revenues generated in EMEA [2][3]. - Teleflex plans to leverage its established education and clinical platforms to further enhance the offerings to cardiac and peripheral care specialists [4][5]. Group 3: Financial Outlook - The acquired products are projected to generate approximately €91 million in revenues in the fourth quarter of 2025, with expected constant currency revenue growth of 6% or better starting in 2026 [6][7]. - The transaction is expected to be approximately $0.10 accretive to Teleflex's adjusted earnings per share in the first year of ownership, with increasing accretion thereafter [8]. - Teleflex intends to finance the acquisition through a new term loan, revolving borrowings, and cash on hand, while also entering into foreign exchange derivative contracts to hedge against currency exposure [9][8].