Slide 1: Teleflex Investor Presentation
Teleflex Investor Presentation 1
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation and our discussion contain forward-looking information and statements, which inherently involve risks and uncertainties that could cause actual results to differ from those projected or implied in the forward–looking statements. These statements involve k
Slide 3: Our Core Values
Our Core Values Entrepreneurial Spirit Make It Fun • Be creative, take risks, and show initiative • Be collaborative and friendly • Initiate change and innovation • Show appreciation • Take ownership and be accountable • Make your work place a better place Build Trust People • Be sincere and authent
Slide 4: Teleflex Today
Teleflex Today Our Purpose Our Reach Our Portfolio • We are a global provider of • ~14,000 employees1 globally • NYSE listed – TFX medical technologies • Global HQ: Wayne, PA, USA • 2020 revenue of designed to improve the $2.537 billion health and quality of people’s • International HQ: Athlone, liv
Slide 5: Making a Difference
Making a Difference Teleflex products are used everyday: 31,000 1,600 In 31,000 surgical procedures To help more than 1,600 patients who in the United States require vascular access intervention globally 6,000 3,200 To care for more than 6,000 By emergency responders to treat patients globally in th
Slide 6: Demographics and Industry Tailwinds
Demographics and Industry Tailwinds 84M People 65+ years old in U.S. to double by 2050 versus 20121 Lower acuity patients moving to lower cost 1B+ People 50+ sites of service in Asia by 20252 1. U.S. Census Bureau: https://www.census.gov/library/publications/2014/demo/p25-1140.html ; https://www.cen
Slide 7: Teleflex Investment Thesis
Teleflex Investment Thesis Global • Leading positions in growing markets (vascular, interventional access, interventional urology) Leadership • Established and respected global brands • Global scale to succeed in today’s healthcare marketplace Unique Size • More nimble than larger device companies •
Slide 8: Leveraging Our Global Infrastructure
Leveraging Our Global Infrastructure Strategies • Realize margin expansion through ongoing restructuring initiatives • Leverage recent go-directs to strengthen control of commercial channels in Europe and Asia • Drive adoption of high margin products in new markets ORANGE: Americas BLUE: Europe, Mid
Slide 9: Segment Revenue Review
Segment Revenue Review As- Constant Dollars FY’20 FY’19 Reported Currency Currency in Millions Revenue Revenue Revenue Impact Growth Growth Americas $1,465.0 $1,492.3 (1.8)% (0.2)% (1.6)% EMEA $584.9 $588.1 (0.5)% 1.1% (1.6)% Asia $267.0 $294.3 (9.3)% 0.3% (9.6)% OEM $220.3 $220.7 (0.2)% 0.4% (0.6)%
Slide 10: Global Product Category Revenue Review
Global Product Category Revenue Review As- Constant Dollars FY’20 FY’19 Reported Currency Currency in Millions Revenue Revenue Revenue Impact Growth Growth Vascular Access $657.7 $600.9 9.5% 0.1% 9.4% Interventional $382.4 $427.6 (10.6)% 0.1% (10.7)% Anesthesia $302.3 $338.4 (10.7)% 0.2% (10.9)% Sur
Slide 11: Track Record of Revenue Growth, 2011-2020
Track Record of Revenue Growth, 2011-2020 (in millions) $2,595 $2,537 $2,550 $2,448 $2,350 $2,146 $2,150 $1,950 $1,868 $1,840 $1,810 $1,750 $1,696 $1,551 $1,550 $1,493 $1,350 $1,150 $950 $750 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 1. Calculation based on GAAP reported revenue 11 Note: Bar
Slide 12: Track Record of Adj. Gross and Operating Margin Expansion
Track Record of Adj. Gross and Operating Margin Expansion Adjusted Gross Margin Adjusted Operating Margin 25.7% 25.8% 24.9% 58.1% 24.1% 25.1% 57.1% 56.7% 21.5% 55.8% 20.0% 54.1% 52.7% 51.5% 2014 2015 2016 2017 2018 2019 2020 2014 2015 2016 2017 2018 2019 2020 12 Note: Figures represent adjusted gros
Slide 13: Core Strategic Building Blocks
Core Strategic Building Blocks Teleflex is a Differentiated MedTech Asset Drive Constant Deliver Non-Revenue Remain a Align Portfolio Continue to Attract Currency Dependent Margin Serial Acquirer with Favorable Key Talent Revenue Growth Expansion Demographics • Address major • Execute restructuring
Slide 14: Teleflex 2021: Three-Year Growth Drivers
Teleflex 2021: Three-Year Growth Drivers High growth company with gross and operating margin expansion Executing Leveraging on strategic global M&A Driving infrastructure Medium Sustained utilization Investing in cadence in growth growth key disease of new product company states product categories w
Slide 15: Investing in Key Disease States and Markets
Investing in Key Disease States and Markets Vascular - Catheter complications Interventional – Cardiac procedures Surgical - Minimally Invasive Procedures Emergency medicine Men’s health 15
Slide 16: Driving Utilization in Growth Product Categories
Driving Utilization in Growth Product Categories Current Portfolio Interventional Vascular Airway Urology Intraosseous Access Access Management Interventional Cardiology The UroLift® EZ-IO® OnControl® Rüsch® Polaris™ Fiber Chocolate® MANTA® Intraosseous Vascular Powered PICCs Optic Single-Use Turnpi
Slide 17: Executing Disciplined M&A Strategy
Executing Disciplined M&A Strategy Acquisition Criteria M&A Focus • Fits existing business units and call points 1 Scale • Provides superior clinical benefit to existing alternatives • Provides cost-benefit to the hospital 2 Tuck in • Strong IP and patent protection 3 Dealer to direct • Long product
Slide 18: Track Record of Value-Creating Acquisitions
Track Record of Value-Creating Acquisitions M&A Focus Select Transactions Z-Medica NeoTract Vascular Solutions 1 Scale 2020 2017 2017 Mini-Lap QT Vascular Essential Medical 2 Tuck in 2018 2018 Technologies 2014 VSI Distributors Human Medics Mayo Healthcare 3 Dealer to direct 2017-2018 2015 2014 Late
Slide 19: Key Investment Highlights
Key Investment Highlights Diversified, global medical technology company Well-positioned to take advantage of favorable industry dynamics Leading market positions with established global brands Diversified customer and supplier base Strong cash flow generation and proven history of deleveraging and
Slide 20: Thank You
20 Neleflex:
Slide 21: Appendix A: Key Products
21 Appendix A: Key Products 21
Slide 22: NeoTract: A Compelling Growth Asset
NeoTract: A Compelling Growth Asset Significant Market • Initial target market 8.5M U.S. BPH drug or drug drop out patients; Opportunity $30B+ total addressable market • 2 randomized controlled trials; 8 single arm studies Exceptional • >28 peer-reviewed publications Clinical Data • 5-year follow-up
Slide 23: UroLift System: A Large Clinical Need and U.S. Market Opportunity
UroLift® System: A Large Clinical Need and U.S. Market Opportunity 0.3 Surgery Drug drop out 1.5 8.5 Million Men on drugs or drug drop out UroLift® System initial target Drugs 7.0 market $30B+ Opportunity Watchful waiting 3.2 ~12 Million U.S. men treated for BPH1 # of men (millions) 23 1. U.S. Marke
Slide 24: UroLift System: EMEA Size of Addressable Market
UroLift® System: EMEA Size of Addressable Market EMEA represents a significant opportunity for BPH/LUTS treatment EMEA Addressable Market for UroLift1 30+ Mn Actively Managed BPH patients 24 1. Management estimates. Countries include Austria, Belgium, Denmark, France, Germany, Spain, Sweden, Switzer
Slide 25: UroLift System: APAC Size of Addressable Market
UroLift® System : APAC Size of Addressable Market Asia Pacific represents a significant opportunity for BPH/LUTS treatment APAC Addressable Market for UroLift1 60+ Mn Actively Managed BPH patients 1. Management estimates. Countries include Australia, China, India, Indonesia, Japan, among others. 25
Slide 26: UroLift System: A Straightforward Procedure
UroLift® System: A Straightforward Procedure Apply Lidocaine Gently push tissue Relieve obstruction jelly/oral sedative1 aside Insert delivery Deploy customized Typically same system implants day discharge 26 1. This does not account for the physician’s preferred anesthesia protocol.
Slide 27: UroLift 2 System
UroLift® 2 System One implant per cartridge • UroLift Implant design remains the same • With the UroLift® 2 System, multiple cartridges per handle enable greater ease of use and reduce medical waste 27
Slide 28: UroLift ATC System
UroLift® ATCTM System • UroLift® Advanced Tissue Control (ATCTM) is an optimized delivery device that offers enhanced tissue control in cases with challenging anatomy such as obstructive median lobe (OML) or large lateral lobes. • Wings at the tip allow the urologist to better grab and mobilize tiss
Slide 29: UroLift: Reducing Tradeoffs Between Effectiveness and Risk Compared to Drugs
UroLift: Reducing Tradeoffs Between Effectiveness and Risk Compared to Drugs Time to First Evidence of Symptom Improvement Incidence of Sexual Dysfunction Statistically Significant at 10-16 Months5,6,7 Relief (Weeks)1,2,3,4,5 Mean AUASI Reduction Ejaculatory Dysfunction Erectile Dysfunction 12-24 10
Slide 30: Anesthesia and Emergency Medicine
Anesthesia and Emergency Medicine Top Market Trends Arrow® EZ-IO® Intraosseous Vascular Access System • >137 million visits to the emergency room in the U.S. annually.1 • There are >500,000 adult occurrences of cardiac arrest yearly in the US with an estimated 10% survival rate.2 • Sepsis kills a pa
Slide 31: Anesthesia and Emergency Medicine
Anesthesia and Emergency Medicine Top Market Trends Freeze Dried Plasma • >137 million visits to the emergency room in the U.S. annually1 • Minimal plasma availability in challenging environments (prehospital, remote/rural, battlefield settings), despite demand and opportunity to save many lives • T
Slide 32: Freeze Dried Plasma Market
Freeze Dried Plasma Market Market Size Estimate Government ~$20M - $25M Total market size Civilian* $ ~$100M ~$70M - $75M Source: Management estimates *Does not include civilian trauma hospitals. Teleflex Freeze Dried Plasma is not approved for sale or distribution 32
Slide 33: Coronary and Structural Heart Disease
Coronary and Structural Heart Disease Top Market Trends • Coronary artery disease is the most common type of heart disease in the US – cause of more than 370,000 deaths annually1 • Over 1 million percutaneous coronary interventions (PCI) are performed in the US every year2 • More than five million A
Slide 34: Arrow OnControl Powered Bone Access System
Arrow® OnControl® Powered Bone Access System • Up to 55% faster procedure time to improve efficiency versus ~$160M manual biopsy needles1 Total Potential Addressable U.S. Market1 • Fewer second-attempt procedures required versus manual biopsy needles1,2 • Consistently larger, high-quality core speci
Slide 35: Arrow AC3 Optimus Intra-Aortic Balloon Pump
Arrow® AC3 Optimus® Intra-Aortic Balloon Pump Simply outstanding performance, support, and efficiency in an IABP For patients requiring mechanical cardiac support, the performance of the IABP can mean all the difference. With the onset of an elevated heart rate or arrhythmia, the patient’s survival
Slide 36: Manta Vascular Closure Device
Manta® Vascular Closure Device A new era of simplicity and confidence in large bore closure The MANTA® Device is the first commercially available biomechanical vascular closure device designed specifically for large bore femoral arterial access site closure.1 Available in 14 Fr. and 18 Fr., a single
Slide 37: Guideliner V3 Catheter
Guideliner® V3 Catheter Guide extension catheter with half-pipe technology The GuideLiner® Catheter revolutionized the concept of guide extension, creating new possibilities in interventional cardiology. Now in its third generation, the GuideLiner® V3 Catheter continues to build on a history of inno
Slide 38: Turnpike Catheters
Turnpike® Catheters Turnpike® Spiral Catheter Distal nylon coil provides rotational assistance for enhanced trackability Turnpike® Gold Catheter Gold-plated, threaded metallic tip for enhanced advancement Turnpike® LP Catheter Low-profile version with greater tip and distal shaft flexibility for adv
Slide 39: TrapLiner Catheter
TrapLiner® Catheter Guide Extension Plus Wire Trapping • Balloon inflates to maintain Balloon inflates via a guidewire position hypotube push rod to trap, the guidewire against the • Rapid exchange guide interior wall of the guide extension for backup support catheter and deep-seating • Gold radiopa
Slide 40: A Less Invasive Surgical Approach
A Less Invasive Surgical Approach Weck® EFx Shield® Port Closure Device Improved Safety Top Market Trends • 3.5 million laparoscopic procedures performed in the US Annually1 • Patient and clinician demand for decreased trauma and enhanced safety • Patient satisfaction influence on reimbursement Grow
Slide 41: Weck Hem-o-lok Polymer Ligation Systems
Weck® Hem-o-lok® Polymer Ligation Systems Product Description Weck® Hem-o-lok® polymer ligation clips are designed for cool ligation, lasting security and fast, efficient delivery – secure from the cartridge to the applier and on the vessel. The Weck® Hem-o-lok® polymer ligation system unique design
Slide 42: Catheter Complications: Antimicrobial Technology
Catheter Complications: Antimicrobial Technology Top Market Trends Protected Catheters • Increasing awareness of vascular-related complications with PICCs and midlines • Pressures on healthcare funding linked to patient outcomes • Increasing awareness of infection and thrombosis driving penalties an
Slide 43: Arrow ErgoPack Complete System
Arrow® ErgoPack Complete System Product Description The latest addition to the Arrow® Brand represents an evolution in progressive design, featuring clinician- inspired enhancements. We observed thousands of hours of procedures to create an intuitive configuration that allows for efficient procedura
Slide 44: Arrowg+ard Blue Advance PICC
Arrowg+ard Blue Advance® PICC Product Description Pressure-injectable Arrowg+ard Blue Advance® PICCs are the world’s first PICCs in the intravascular catheter marketplace with both broad-spectrum antimicrobial and antithrombogenic protection. Extra- and intraluminal protection helps reduce the colon
Slide 45: Appendix B: GAAP to Non-GAAP Reconciliations
45 Appendix B: GAAP to Non-GAAP Reconciliations 45
Slide 46: Note on Non-GAAP Financial Measures
Note on Non-GAAP Financial Measures The presentation to which these appendices are attached, and the following appendices include, among other things, tables reconciling the following applicable non-GAAP financial measures to the most comparable GAAP financial measure: • Constant currency revenue gr
Slide 47: Non-GAAP Adjustments
Non-GAAP Adjustments The following is an explanation of certain of the adjustments that are applied with respect to one or more of the non-GAAP financial measures that appear in the presentation to which these appendices are attached: Restructuring, restructuring related and impairment items. Restru
Slide 48: Reconciliation of Adjusted Gross Profit and Margin
Appendix A – Reconciliation of Adjusted Gross Profit and Margin Dollars in Thousands Twelve Months Ended December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 Gross profit as-reported $ 942,428 $ 944,403 $ 996,200 $ 1,171,802 $
Slide 49: Reconciliation of Adjusted Operating Profit and Margin
Appendix B – Reconciliation of Adjusted Operating Profit and Margin Dollars in Thousands Twelve Months Ended Decem ber 31, 2014 Decem ber 31, 2015 Decem ber 31, 2016 Decem ber 31, 2017 Decem ber 31, 2018 Decem ber 31, 2019 Decem ber 31, 2020 Incom e from continuing operations before interest, loss o
Slide 50: Reconciliation of Adjusted Earnings per Share
Appendix C – Reconciliation of Adjusted Earnings per Share Twelve Months Ended December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 December 31, 2018 December 31, 2019 December 31, 2020 2014-20 CAGR GAAP diluted earnings per share available to common shareholders $ 4.10 $ 4.91 $ 4
Slide 51: Appendix D – Tickmarks
Appendix D – Tickmarks (A) Restructuring, restructuring related and impairment items –In 2014 and 2015, the majority of these charges were related to facility consolidations. In 2016, these charges include; (i) charges related to facility consolidations, (ii) a pre-tax, non-cash $41.0 million impair