Teleflex Closes $1.5B OEM Sale; Business Rebrands as Ingenyx

Teleflex revealed that it’s finished the divestiture of its OEM business to Montagu and Kohlberg for $1.5 billion in cash.

The Plymouth, Minnesota-based company said completion of the OEM transaction advances its transformation strategy and increases its focus on the commercial performance of its remaining businesses. The transaction also provides the OEM business with dedicated resources to support its growth as an independent company under new ownership.

Teleflex estimates net proceeds of about $1.25 billion for the sale. The company said it plans to use the funds to return capital to shareholders via debt paydown and share repurchases, and that it will report Q2 2026 financials later this week.

The newly independent OEM business also announced its rebrand as Ingenyx. Teleflex Medical OEM CEO Greg Stotts will continue in his role and Kohlberg senior operator Matt Jennings will become Ingenyx’s executive chairman.

Under the new brand, the company said it will expand beyond traditional contract manufacturing to support customers throughout product development, material selection, scaling, and lifecycle management. As a standalone business backed by private equity, Ingenyx believes it can move faster and speed investments in innovation, engineering, and manufacturing.

The medical device development and manufacturing partner touts over 40 years of experience producing custom-engineered interventional catheter components and subassemblies, surgical fibers, sutures, and other tech. The company supports applications in structural heart, neurovascular, electrophysiology, urology, and other treatment areas. With seven facilities across the U.S., Ireland, and Mexico, Ingenyx provides materials science, extrusion, and vertically integrated manufacturing capabilities from product development through commercialization and future product generations.

Comments from Ingenyx

Board chairman Jennings: “Medical device companies face growing pressure to innovate faster while managing complexity, risk, and cost. INGENYX is uniquely positioned to meet that need by serving as a collaborative extension of our customers’ teams, combining design for manufacturability (DFM) methodology, and our proprietary intelligence databank with a deep understanding of the decisions that shape successful products.”

CEO Stotts: “INGENYX reflects both who we are and where we’re headed. For decades, we’ve helped medical device companies bring innovative products to market. As an independent company, we have an opportunity to invest further in the capabilities, expertise, and technologies that help our customers make smarter decisions and accelerate their path to commercialization and beyond.”

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