Medline Industries, Inc. entered into a definitive agreement to acquire Certain product lines of global respiratory product portfolio from Teleflex Incorporated (NYSE:TFX) for approximately $270 million on May 15, 2021. The consideration is $286 million in cash, reduced by $12 million in working capital not transferring to Medline. The assets to be divested generated $139 million for the year 2020. The transaction subject to customary regulatory approvals and other closing conditions and is expected to close early in the third quarter of 2021. Teleflex intends to use the divestiture proceeds to pay down debt, augmenting its financial flexibility to support its growth strategy. The transaction is accretive to our pro-forma revenue growth profile, as well as adjusted gross and operating margins longer term. Post completion, nearly 1,000 employees will ultimately join Medline when the transition is complete and The Hudson RCI® corporate and manufacturing teams will become part of Medline's Respiratory division, reporting up to division president Tim Finnigan through division vice president Donna Mosakowski. The acquisition is expected to close later in 2021, pending regulatory reviews. Guggenheim Securities is acting as financial advisor and Holland & Knight LLP is acting as legal advisor for Teleflex. Gary D. Gerstman, Brent M. Steele, Lauren A. Gallagher, Heather M. Palmer, Sarah A. Jehl, Torrey Cope, Susan Stolzer, Anne Sutton, Ryan M. Rutledge, James D. Weiss, Ash Nagdev, Elizabeth K. McCloy, Suresh T. Advani, Jen Fernandez, Donielle McCutcheon, Karen Kazmerzak, Ike Adams, and Thomas M. Thesin of Sidley Austin are acting as legal advisors for Medline.