2025年12月9日，美国医疗器械公司泰利福 Teleflex 公布了一笔引人关注的资产出售： 合计20.3亿美元（约合人民币 143亿 ）的对价 ，将旗下 急症护理、介入泌尿 和OEM 三项业务分别转让给不同收购方。 扣除税费后预计净现金收入约18亿美元，交易预计在2026年下半年完成。这笔交易的背后，不仅是财务动作，更是战略 路径的调整。 公司同时宣布最高10亿美元的股票回购计划——在当前资本环境下，"出售资产+回购股票"是一种鲜明的资本叙事。 短期市场反应已经体现心态变化：公告当天股价上涨超过10%。但相比股价波动，更值得讨论的是这家跨国公司选择"在现在"做减法背后的逻辑。 # 从"新公司分拆 "到 "直 接卖 掉" 这不是Teleflex第一次试图把这三项业务从主体公司中"拿出来"。 2025年初，管理层曾宣布筹备分拆一家公司 "NewCo" ，承载泌尿、急症护理及OEM业务，目标2026年上市。 与此同时，剩余的介入、血管通路和外科器械业务留 在"RemainCo"中，更聚焦医院端的高复杂度场景。 那次分拆计划，是在"运营逻辑已经足够独立"这个前提下提出的：它反映的并不是"甩包袱"，而是希望让资产回 ...

Core Viewpoint - Shenzhen Beixin Life Technology Co., Ltd. has passed the IPO review by the Shanghai Stock Exchange, marking it as the 34th company to receive approval this year [1] Company Overview - Beixin Life focuses on innovative medical devices for precise diagnosis and treatment of cardiovascular diseases, with a commitment to developing transformative solutions [1] - The company has launched 11 products to date and has 6 products under development, covering five major categories: IVUS systems, FFR systems, vascular access products, shockwave balloon therapy systems, and electrophysiological solutions [1] Shareholding Structure - The company has no controlling shareholder, with the actual controller being Song Liang, who holds 16.1530% of the shares directly and controls an additional 13.4140% through partnerships, totaling 29.5670% of voting rights [2] - Other shareholders are primarily financial investors who have committed not to seek control of the company, recognizing Song Liang's position as the actual controller [2] Management and Governance - Song Liang is the core founder and has served as the chairman and CEO, significantly influencing the selection of board members and daily management decisions [3] - The company plans to publicly issue up to 90 million shares on the Sci-Tech Innovation Board, with a minimum of 10% of the total share capital post-issue [3] Fundraising Plans - Beixin Life aims to raise approximately 95.22113 million yuan, which will be allocated to the construction of a medical device industrialization base, R&D projects, and to supplement working capital [3] Market Position and Competitive Landscape - The IPO review committee raised questions regarding the market space, competitive landscape, and sustainability of the company's core products, specifically FFR and IVUS [4]