WAYNE, Pa., November 14, 2023 -- Teleflex Incorporated (NYSE:TFX), a leading global provider of medical technologies, announced today that a new peer-reviewed study in the Nature journal Prostate Cancer and Prostatic Diseases reinforces the position of the UroLift™ System as the gold standard in minimally invasive surgical treatment (MIST) for benign prostatic hyperplasia (BPH), or enlarged prostate. Retreatment Rates and Postprocedural Complications Are Higher Than Expected After BPH Surgeries: A U.S. Healthcare Claims and Utilization Study is the largest longitudinal healthcare claims study evaluating complication and retreatment rates after BPH treatment with leading surgical and MIST ever conducted, and the only study to include all outpatient sites of service.1
Read MoreTeleflex Completes Acquisition of Palette Life Sciences
WAYNE, Pa., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE:TFX), a leading global provider of medical technologies, today announced that it has completed the previously announced acquisition of Palette Life Sciences AB. The acquisition adds Barrigel®, a biodegradable sculptable rectal spacer, to Teleflex’s Interventional Urology portfolio. Barrigel® is a Non-Animal Stabilized Hyaluronic Acid (NASHA) spacer designed to reduce radiation delivered to the rectum during prostate cancer radiation therapy, while increasing tumor control and patient quality of life.1 The Palette Life Sciences portfolio also includes Deflux® and Solesta®, which are NASHA based tissue bulking agents designed to treat pediatric vesicoureteral reflux and fecal incontinence, respectively.
On July 26, Teleflex announced its entry into a definitive agreement to acquire Palette. Under the terms of the agreement, Teleflex acquired Palette for an upfront cash payment of $600 million at closing, with additional consideration of up to $50 million upon the achievement of certain commercial milestones.
On a standalone basis, we continue to expect Palette net revenue to be approximately $56 million for 2023. The acquisition is expected to be approximately $0.25 dilutive to adjusted earnings per share (excluding non-recurring purchase accounting items and other acquisition and integration related costs) in 2023.
For 2024, the transaction is expected to deliver a high-teens to low 20% revenue growth profile and be approximately $0.35 dilutive to adjusted earnings per share (excluding non-recurring purchase accounting items and other acquisition and integration related costs). The transaction is expected to be increasingly accretive to adjusted EPS, thereafter.
The Company will provide an update to its 2023 financial outlook on its third quarter earnings conference call.
About Teleflex Incorporated
Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com.
Teleflex is the home of Arrow®, Deknatel®, LMA®, Pilling®, QuikClot®, Rüsch®, UroLift® and Weck® – trusted brands united by a common sense of purpose.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Any forward-looking statements contained herein are based on our management's current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. These risks and uncertainties are identified and described in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Teleflex, the Teleflex logo, Arrow, Deknatel, LMA, Pilling, QuikClot, Rüsch, UroLift, and Weck are trademarks or registered trademarks of Teleflex Incorporated or its affiliates, in the U.S. and/or other countries.
New Survey Highlights the Quality of Life Impact of an Enlarged Prostate
Men With Bothersome Urinary Symptoms Find Travel Less Enjoyable Due to Frequent Bathroom Needs
Read MoreTeleflex to Acquire Palette Life Sciences
Acquisition will add Barrigel®, a biodegradable sculptable rectal spacer, to Teleflex’s Interventional Urology portfolio
Read MoreResearch Presented at the American Urological Association Annual Meeting Confirms Five-Year Durability of UroLift® System and Highlights Low Rates of Procedural Complications
Read MorePresentations at the 38th Annual European Association of Urology Congress Reinforce Low Surgical Retreatment of the UroLift® System
Read MoreTeleflex Launches National Ad Campaign — “Pit Stop” — to Raise Awareness of the UroLift® System as a Treatment for Enlarged Prostate
The campaign drives education about the importance of regular health screenings and treatment options for benign prostatic hyperplasia (BPH), a common men’s health condition.
Read MoreTeleflex Celebrates 400,000 Patients Treated With the Minimally Invasive UroLift® System
BPH is a non-cancerous enlargement of the prostate, occurring naturally as men age, which can cause urinary problems, decrease quality of life, and interrupt sleep.4 More than 14 million men in the U.S. seek treatment for the condition every year.3
“The UroLift® System is a proven treatment method in my practice for patients seeking relief from an enlarged prostate,” said Steven Gange, M.D., F.A.C.S., of Summit Urology Group and Associate Medical Director of the Teleflex Interventional Urology Business Unit. “For men with BPH who are looking to get off medications, the UroLift® System can be an excellent minimally invasive option that provides rapid relief and low risk of permanent side effects.”
Teleflex recently conducted a survey of 1,000 U.S. men aged 45+ who are experiencing BPH symptoms to better understand the treatment journey and patient behavior surrounding BPH.5
Key findings include:
• 70% of men surveyed, who were as young as 45, indicated medications were recommended as at least one option for treating BPH.6
• Nearly half of the respondents on medication (44%) are interested in alternative treatment options.7
“Urologists can change appropriate BPH patients’ journeys for the better, with confidence, by offering them the UroLift® System,” said Kevin Hardage, President and General Manager of Teleflex Interventional Urology. “At Teleflex, we are honored to play an important role in enhancing the quality of life of hundreds of thousands of men with BPH.”
About the UroLift® System
The UroLift® System is a minimally invasive treatment for lower urinary tract symptoms due to benign prostatic hyperplasia (BPH). It is indicated for the treatment of symptoms of an enlarged prostate up to 100 cc in men 45 years or older (50 years outside U.S.). The UroLift® permanent implants, which can be delivered during an outpatient procedure, relieve prostate obstruction without heating, cutting, destruction of, or removing prostate tissue. The UroLift® System can be used to treat a broad spectrum of anatomies, including obstructive median lobe.8 It is the only leading BPH procedure shown to not cause new onset, sustained erectile or ejaculatory dysfunction.*2,9-10 The L.I.F.T. study has proven UroLift® System durability out to 5 years with a surgical retreatment rate of 13.6% over 5 years or about 2-3% per year.2 Most common adverse events are temporary and can include hematuria, dysuria, micturition urgency, pelvic pain, and urge incontinence.11 Rare side effects, including bleeding and infection, may lead to a serious outcome and may require intervention. Individual results may vary. The prostatic urethral lift procedure (using the UroLift® System) is recommended for the treatment of BPH in both the 2021 American Urological Association and 2022 European Association of Urology clinical guidelines. More than 400,000 men have been treated with the UroLift® System in select markets worldwide.1
Learn more at UroLift.com. Rx only.
About Teleflex Incorporated
Teleflex is a global provider of medical technologies designed to improve the health and quality of people’s lives. We apply purpose driven innovation – a relentless pursuit of identifying unmet clinical needs – to benefit patients and healthcare providers. Our portfolio is diverse, with solutions in the fields of vascular access, interventional cardiology and radiology, anesthesia, emergency medicine, surgical, urology and respiratory care. Teleflex employees worldwide are united in the understanding that what we do every day makes a difference. For more information, please visit teleflex.com.
Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Any forward-looking statements contained herein are based on our management's current beliefs and expectations, but are subject to a number of risks, uncertainties and changes in circumstances, which may cause actual results or company actions to differ materially from what is expressed or implied by these statements. These risks and uncertainties are identified and described in more detail in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Contacts:
Teleflex Incorporated:
Lawrence Keusch
Vice President, Investor Relations and Strategy Development
John Hsu, CFA
Vice President, Investor Relations
Investors.teleflex.com
610-948-2836
Media:
Nicole Osmer
nicole@healthandcommerce.com
650-454-0504
*No instances of new, sustained erectile or ejaculatory dysfunction in the L.I.F.T. pivotal study.
References:
- Management estimate based on product sales as of December 2022. Data on file Teleflex Interventional Urology.
- Roehrborn, Can J Urol 2017.
- U.S. 2022 estimates based on US Market Model 2022-24 (5-17-22 FINAL), which is in part based on Symphony Health PatientSource® 2018-21, as is and with no representations/warranties, including accuracy or completeness.
- Speakman, BJUI 2014.
- Survey of US men aged 45+ who have experienced symptoms commonly associated with BPH (enlarged prostate), conducted by Teleflex in 2022. Data on file, n=1000.
- Survey of US men aged 45+, who have been diagnosed with BPH (enlarged prostate), are suffering from at least one urinary symptom, and who spoke to their doctor about their BPH treatment, conducted by Teleflex in 2022. Data on file, n=1,001
- Survey of US men aged 45+, who have been diagnosed with BPH (enlarged prostate), are suffering from at least one urinary symptom, who did not get a treatment recommendation from their doctor about their BPH treatment, or did get a recommendation from their doctor about their BPH treatment and chose medications, conducted by Teleflex in 2022. Data on file, n=714
- Rukstalis, Prostate Cancer and Prostatic Dis 2018.
- AUA BPH Guidelines 2003, 2021.
- McVary, J Sex Med 2016.
- Roehrborn, J Urology 2013.
Teleflex is the home of Arrow®, Deknatel®, LMA®, Pilling®, QuikClot®, Rüsch®, UroLift®, and Weck® – trusted brands united by a common sense of purpose.
Teleflex, the Teleflex logo, Arrow, Deknatel, LMA, Pilling, QuickClot, Rusch, UroLift and Weck are trademarks or registered trademarks of Teleflex Incorporated or its affiliates, in the U.S. and/or other countries.
© 2022 Teleflex Incorporated. All rights reserved. MAC02612-01 Rev A
Published Data Demonstrate Consistent PUL Outcomes for the Treatment of Median Lobe Obstruction Across Controlled and Real-World Settings
Men with obstructive median lobes treated with the UroLift® System experience symptom improvement sooner and are satisfied more quickly compared to those treated with TURP, and have fewer post-op catheterizations
Read MoreTeleflex Announces Collaboration with FundamentalVR, to Improve Training Through Virtual Reality Simulation
FundamentalVR Offers Teleflex a Scalable Training Platform to Accelerate the Effective Use of the UroLift® 2 System for Treatment of Enlarged Prostate
Read More