Slide 1: Teleflex Incorporated (NYSE: TFX) Investor Presentation
Teleflex Incorporated (NYSE: TFX) Investor Presentation
Slide 2: Important Information
Important Information 2 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. Th
Slide 3: Our Company
Our Company 3 Business Overview Revenue by Market1 • NYSE listed – TFX 5% 10% • Global provider of medical technology products that enhance clinical benefits, improve patient and provider safety and reduce procedure costs 85% • Serving healthcare providers worldwide through a combination of our dire
Slide 4: Our Segments: Vascular North America
Our Segments 4 Vascular North America Revenue by Segment1 • Our vascular access products facilitate a variety of critical care therapies, including the administration of intravenous 12% 14% medications and other therapies and the measurement of blood 8% pressure and taking of blood samples through a
Slide 5: Our Segments: Anesthesia North America
Our Segments 5 Anesthesia North America Revenue by Segment1 Our anesthesia products include airway and pain management products • Our airway management products are designed to help eliminate airway related complications and improve 12% 14% procedural efficiencies for patients in surgical, critical
Slide 6: Our Segments: Surgical North America
Our Segments 6 Surgical North America Revenue by Segment1 • Our surgical products include: • Ligation and closure products, including clips and sutures 12% 14% used in a variety of surgical procedures 8% 8% 12% 9% • Access ports used in minimally invasive surgical procedures, including robotic surge
Slide 7: Our Segments: Interventional North America
Our Segments 7 Interventional North America Revenue by Segment1 Our interventional product portfolio consists of products used by interventional cardiologists, interventional radiologists, vascular surgeons and vein practices 12% 14% 8% 8% • Our Vascular Solutions portfolio consists of clinically ad
Slide 8: Our Segments: EMEA and Asia
Our Segments 8 EMEA Revenue by Segment1 • Our EMEA segment designs, manufactures and distributes medical 12% 14% devices primarily used in critical care, surgical applications and 8% 8% cardiac care 12% 9% • For the twelve months ended April 1, 2018, our EMEA segment 11% represented $579.0 million,
Slide 9: Our Segments: OEM
Our Segments 9 OEM Revenue by Segment1 • Our OEM segment designs, manufactures and supplies devices and instruments for other medical device manufacturers 12% 14% 8% 8% • Provides custom-engineered extrusions, diagnostic and 12% 9% interventional catheters, sheath / dilator sets and kits, sutures, p
Slide 10: Our Segments: All Other
Our Segments 10 All Other Revenue by Segment1 • Our All Other segment includes single-se respiratory, urology and interventional urology products, as well as our Latin American 12% 14% business. 8% 8% 12% 9% • Our Respiratory products are used in a variety of care settings and include oxygen therapy
Slide 11: Our Strategy
Our Strategy 11 Position Teleflex to succeed in the healthcare environment of the future Increased utilization Increased economic pressure Capitalize on Teleflex’s scope and size Take advantage of unique Teleflex opportunities Footprint consolidation Distributor to direct conversions
Slide 12: Continue To Achieve Consistent, Sustainable and Profitable Growth
Continue To Achieve Consistent, Sustainable and Profitable Growth 12
Slide 13: Maintain Acute Focus on Research and Development
Maintain Acute Focus on Research and Development 13 • Research and development initiatives are focused on developing new, innovative products for existing and new therapeutic applications, as well as enhancements to, and line extensions of, existing products • During 2017, Teleflex introduced severa
Slide 14: RePlas Freeze-Dried Plasma Regulatory Update and Timeline
RePlas® Freeze-Dried Plasma Regulatory Update and Timeline 14 Dec 2017 Jan 2018 2019 FDA and DoD launch joint program to FDA confirms accelerated BLA BLA submission expedite medical products intended to save approval pathway; confirmatory expected early 2019 lives of US Military; including freeze-dr
Slide 15: Arrow Seldinger Arterial Catheterization Device
Arrow® Seldinger Arterial Catheterization Device 15 PRODUCT PRODUCTDESCRIPTION DESCRIPTION Recently received FDA 510(k) clearance for the Arrow® Seldinger Arterial Catheterization Device. The Arrow® Seldinger Arterial Catheterization Device is indicated for short-term use and is designed to improve
Slide 16: Spectre Guidewire
Spectre™ Guidewire 16 PRODUCT DESCRIPTION Recently received FDA 510(k) clearance and initiated U.S. commercial launch of the Spectre™ Guidewire, which is designed for premium performance in coronary and peripheral interventions with enhanced trackability and torque control. The Spectre™ Guidewire is
Slide 17: Twin-Pass Torque Dual Access Catheter
Twin-Pass® Torque Dual Access Catheter 17 PRODUCT DESCRIPTION Recently received FDA 510(k) clearance and initiated both U.S. and international commercial launch of the Twin-Pass® Torque Dual Access Catheter. The Twin-Pass® Torque Dual Access Catheter contains both a rapid-exchange (RX) lumen and an
Slide 18: TrapLiner Catheter
TrapLiner™ Catheter 18 PRODUCT DESCRIPTION Recently received FDA 510(k) clearance and initiated U.S. commercial launch of the TrapLiner™ Catheter. The TrapLiner™ Catheter is similar in design to Vascular Solutions’ popular GuideLiner Guide Extension Catheter, with the added feature of an integrated
Slide 19: Arrow AC3 Optimus Intra-Aortic Balloon Pump
Arrow® AC3 Optimus™ Intra-Aortic Balloon Pump 19 PRODUCT DESCRIPTION Recently received FDA 510(k) clearance for the AC3 Optimus™ Intra-Aortic Balloon Pump (IABP). This device helps a weakened heart pump blood and can deliver IABP therapy to a broad range of patients, even those not previously consid
Slide 20: Arrow EZ-IO Intraosseous Vascular Access System
ARROW® EZ–IO® Intraosseous Vascular Access System 20 PRODUCT DESCRIPTION The Arrow® EZ-IO® Intraosseous Vascular Access System is a fast vascular access option that provides peripheral venous access with central venous catheter performance. 1,2,3 1. Based on Proximal Humerus EZ-IO Device insertion s
Slide 21: Arrow PICC with Chlorag+ard Technology
ARROW® PICC with Chlorag+ard® Technology 21 PRODUCT DESCRIPTION Pressure-injectable ARROW® PICCs with Chlorag+ard® Technology are the world’s first PICCs in the intravascular catheter marketplace with both broad-spectrum antimicrobial and antithrombogenic protection. Extra- and intraluminal protecti
Slide 22: Arrow Midline with Chlorag+ard Technology
ARROW® Midline with Chlorag+ard® Technology 22 PRODUCT DESCRIPTION Received FDA 510(k) clearance to market its ARROW® Midline with Chlorag+ard® Technology. Antithrombogenic1 and antimicrobial2 peripheral venous catheter designed to minimize common midline catheter complications such as catheter intr
Slide 23: Arrow VPS Rhythm Device with Optional TipTracker Technology
Arrow® VPS Rhythm™ Device with Optional TipTracker™ Technology 23 PRODUCT DESCRIPTION Recently received FDA 510(k) clearance for the Arrow ® VPS Rhythm ™ Device expands Teleflex’s Catheter Tip Navigation and Placement portfolio to now include familiar ECG-only technology for the elimination of confi
Slide 24: Arrow JACC with Chlorag+ard Technology and TightTrack tunneler
ARROW® JACC with Chlorag+ard® Technology and TightTrack™ tunneler 24 PRODUCT DESCRIPTION Received FDA 510(k) clearance to market its ARROW® JACC with Chlorag+ard® Technology and TightTrack™ tunneler. Long-term, tunneled, small french size antithrombogenic1 and antimicrobial2 central venous catheter
Slide 25: LMA Protector Airway
LMA Protector™ Airway 25 PRODUCT DESCRIPTION Second generation Laryngeal Mask Airway All parts with mucosal contact are made of silicone material for increased anatomical compliance, single use product Flexible, but fixed-curve, tube allows ease of insertion and anatomical conformity Patented dual g
Slide 26: Autofuser Disposable Pain Pumps
Autofuser® Disposable Pain Pumps 26 PRODUCT DESCRIPTION Ergonomic pump design that contains graduation marks for infusion monitoring Reservoir design reduces pressure needed to fill balloon Designed to provide uninterrupted continuous infusion during bolus usage Two choices of bolus dosages and thre
Slide 27: LMA MAD Nasal Intranasal Mucosal Atomization Device
LMA® MAD Nasal™ Intranasal Mucosal Atomization Device 27 PRODUCT DESCRIPTION Safe and painless way to deliver medication approved for nasal delivery with rapid absorption across mucosal membranes to a patient’s blood stream without an intravenous line With no danger of needle sticks at the point of
Slide 28: Creating a Suite of Minimally Invasive Surgical Products
Creating a Suite of Minimally Invasive Surgical Products 28 WECK® HEM-O-LOK® POLYMER LIGATION SYSTEMS PILLING™ LAPAROSCOPIC INSTRUMENTS WECK VISTA™ BLADELESS LAPAROSCOPIC ACCESS PORTS
Slide 29: Weck Hem-o-lok Polymer Ligation Systems
Weck® Hem-o-lok® Polymer Ligation Systems 29 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 desig
Slide 30: Weck EFx Endo Fascial Closure System
Weck EFx® Endo Fascial Closure System 30 PRODUCT DESCRIPTION The Weck EFx Endo Fascial Closure System is designed to minimize complications and costs associated with post-operative port-site herniation by providing reproducible, uniform closure through confidence, clarity and control. • Designed to
Slide 31: Weck Vista Bladeless Laparoscopic Access Ports
Weck Vista® Bladeless Laparoscopic Access Ports 31 PRODUCT DESCRIPTION The Weck Vista® bladeless laparoscopic access ports meet the many needs of the user by offering the broadest line of access ports including: • Optical entry • Balloon and cone open access ports • Standard ports with smooth or rid
Slide 32: The MiniLap Percutaneous Surgical System
The MiniLap® Percutaneous Surgical System 32 PRODUCT DESCRIPTION Trocar-less entry improves surgical capability and patient outcomes. Multiple products to address various segments of laparoscopic surgery market. Complements Teleflex’s percutaneous surgery platform.
Slide 33: Percuvance Percutaneous Surgical System
Percuvance™ Percutaneous Surgical System 33 PRODUCT DESCRIPTION Launched new second-generation 2.9mm Percuvance® System in August 2016 in the U.S. and received CE certification in December 2015. Second-generation device is more versatile, introduces electrosurgical and ligation capabilities, and ena
Slide 34: Acquisition Approach
Acquisition Approach 34 Fits into our existing strategic business unit franchises and call points Product provides a superior clinical benefit to existing alternatives Provides a cost benefit to a hospital Strong IP and patent protection Long product life cycles
Slide 35: 2017 Acquisition: NeoTract
2017 Acquisition: NeoTract 35 Business Overview • Founded in 2004, NeoTract is a privately-held medical device company that has developed and commercialized the FDA-cleared UroLift® System • The UroLift® System is a novel, minimally invasive technology for treating lower urinary tract symptoms due t
Slide 36: >$30B Market Opportunity for UroLift in the U.S.
36 >$30B Market Opportunity for UroLift® in the U.S. 0.3 Surgery 1.5 Drug Drop Out 8.5 Million Men On Drugs or Drug Drop Out 7.0 Drugs UroLift® Target Market 3.2 Watchful Waiting #Men (Millions) 12.0 Million U.S. Men Treated for BPH1 66% UroLift® patients are coming from the Watchful Waiting, Drug a
Slide 37: Simple, Straightforward Procedure
37 Simple, Straightforward Procedure Nitinol Capsular Tab PET Suture Stainless Steel Urethral End Piece Apply Lidocaine Gently Push Relieve Jelly/Oral Sedative Tissue Aside Obstruction Insert Delivery System Deploy Customized Implants Typically Same Day (4-6 Avg) Discharge
Slide 38: 2017 Acquisition: Vascular Solutions
2017 Acquisition: Vascular Solutions 38 Business Overview Revenue performance • Innovative medical device company that focuses on $200 bringing clinically advanced solutions to the market for Single product Multiple products treating coronary and peripheral diseases $150 • Product line consists of o
Slide 39: 2017 Acquisition: Pyng Medical
2017 Acquisition: Pyng Medical 39 Pyng Medical commercializes trauma and resuscitation products for front-line critical care and emergency medical personnel Product portfolio includes a variety of innovative, lifesaving tools, including intraosseous infusion, pelvic stabilization, hemorrhage control
Slide 40: 2017 Acquisition: Tianjin Medis Medical Co. LTD
2017 Acquisition: Tianjin Medis Medical Co. LTD 40 Transaction completed in September 2017 Acquired certain assets from Tianjin Medis Medical Co. LTD, a contract manufacturer based in Tianjin, China Consists of substantially all of the assets used by Tianjin to manufacture a line of the Teleflex’s l
Slide 41: 2016 Acquisition: CarTika Medical, Inc.
2016 Acquisition: CarTika Medical, Inc. 41 All-cash transaction completed in September 2016 Founded in 1993, CarTika is an innovative leader in the design, development, and manufacturing of the highest-quality, complex catheters and medical components Compliments current OEM product portfolio Produc
Slide 42: 2015 Acquisition: Nostix, LLC
2015 Acquisition: Nostix, LLC 42 All-cash transaction completed in December 2015 Founded in 2001, Nostix has developed affordable, differentiated tip placement confirmation products, with additional navigation products under development Compliments current VasaNova vascular positioning system and st
Slide 43: 2015 Acquisition: Atsina Surgical, LLC
2015 Acquisition: Atsina Surgical, LLC 43 All-cash transaction completed in August 2015 Atsina, a portfolio company of Option3 and Research Corporation Technologies, is a developer of surgical clips Proprietary angular element, or elbow, to secure, and then pull, tissue proximally during closure Com
Slide 44: 2015 Acquisition of Distribution Rights to AutoFuser Pain Pump Products
2015 Acquisition of Distribution Rights to AutoFuser® Range of 44 Disposable Pain Pump Products Accretive, all-cash transaction completed in June 2015 Acquired exclusive North American distribution rights to the AutoFuser® and AutoFuser® with AutoSelector® range of disposable pain control pumps from
Slide 45: 2015 Acquisition: N. Stenning & Co. Pty. Ltd.
2015 Acquisition: N. Stenning & Co. Pty. Ltd. 45 Accretive, all-cash transaction completed in June 2015 Distributor of Teleflex surgical products under the Pilling and Weck brands for nearly 35 years Acquisition enables direct sales and distribution of additional Teleflex products in Australia and p
Slide 46: 2015 Acquisition: Truphatek
2015 Acquisition: Truphatek 46 Accretive, all-cash transaction completed in April 2015 Private Israeli company established in 1993 with a broad range of disposable and reusable laryngoscope devices Teleflex was Truphatek’s primary distributor of laryngoscopes in the U.S. and acquisition positions Te
Slide 47: 2015 Acquisition: Trintris Medical, Inc.
2015 Acquisition: Trintris Medical, Inc. 47 Accretive, all-cash transaction completed in March 2015 Private company OEM for balloons and catheters Balloon forming and attaching capability complements existing catheter business and fills product gap
Slide 48: 2015 Acquisition: Human Medics
2015 Acquisition: Human Medics 48 Accretive, all-cash transaction completed in January 2015 Distributor of Teleflex surgical and respiratory products since 2004 Consistent with strategic approach, this acquisition establishes direct distribution organization in Korea
Slide 49: 2014 Acquisition: Mini-Lap Technologies, Inc.
2014 Acquisition: Mini-Lap Technologies, Inc. 49 Accretive, all-cash transaction completed in December 2014 Mini-Lap is a developer of next-generation minimally invasive surgical instruments, which complements Teleflex’s percutaneous surgical product platform Multiple products to address various seg
Slide 50: 2014 Acquisition: Mayo Healthcare Pty. Ltd.
2014 Acquisition: Mayo Healthcare Pty. Ltd. 50 Accretive, all-cash transaction completed in February 2014 Mayo Healthcare is one of Australia’s largest medical device distributors Provides high quality products, education services, technical services and customer support to healthcare institutions t
Slide 51: 2013 Acquisition: Vidacare Corporation
2013 Acquisition: Vidacare Corporation 51 Company Established in 2001, and acquired in December 2013, Vidacare is the developer of a broad technology platform that is defining the field of Overview intraosseous (inside the bone access) medicine Expands vascular access product portfolio with a de
Slide 52: Financial Performance
Financial Performance 52 Revenue ($ in millions) Adjusted Gross Profit & Margin ($ in millions) $2,250 $2,146 $1,197 $1,250 $1,868 $1,840 $1,810 $1,696 $1,011 55.8% $1,750 $1,000 $954 $1,493 $1,551 $947 $841 54.1% 52.7% $749 $1,250 $750 $711 51.5% 49.6% 48.3% 47.6% $750 $500 2011 2012 2013 2014 2015
Slide 53: Key Investment Highlights
Key Investment Highlights 53 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 a
Slide 54: Thank You
THANK YOU Veleflex:
Slide 55: Appendix
APPENDIX Veleflex:
Slide 56: April 1, 2018 LTM Revenue Reconciliation
April 1, 2018 LTM Revenue Reconciliation 56 Dollars in Thousands 2017 Revenue: $ 2,146,303 Less - Q1'17 Revenue: $ 487,881 Add - Q1'18 Revenue: $ 587,230 April 1, 2018 LTM Revenue: $ 2,245,652 2017 Revenue Less: Q1'17 Revenue Add: Q1'18 Revenue LTM April 1, 2018 Revenue LTM April 1, 2018 Revenue - %
Slide 57: Adjusted Gross Profit & Margin Reconciliation
Adjusted Gross Profit & Margin Reconciliation 57 Dollars in Millions $ millions Tw elve Months Ended December 31, 2017 December 31, 2016 December 31, 2015 December 31, 2014 December 31, 2013 December 31, 2012 December 31, 2011 Teleflex gross profit as-reported $ 1,171.8 $ 996.2 $ 944.4 $ 942.4 $ 838
Slide 58: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation 58 Dollars in Millions $ millions Tw elve Months Ended December 31, 2017 December 31, 2016 December 31, 2015 December 31, 2014 December 31, 2013 December 31, 2012 December 31, 2011 Net cash provided by operating activities from continuing operations $ 426.3 $ 410.6 $ 30
Slide 59: Adjusted Earnings per Share Reconciliation
Adjusted Earnings per Share Reconciliation 59 2011 2012 2013 2014 2015 2016 2017 Amounts attributable to common shareholders: income (loss) from continuing operations, net of tax $118.3 ($182.7) $151.3 $190.4 $236.0 $237.2 $155.3 $2.90 ($4.47) $3.46 $4.10 $4.91 $4.98 $3.33 Goodw ill impairment, net