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Subsequent event | 6 Months Ended
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Jun. 29, 2025
Subsequent Events [Abstract] |
Subsequent event | Subsequent events Completion of the VI Business acquisition and related transactions On June 30, 2025, the first day of the third quarter 2025, we completed the acquisition of the VI Business for a net initial cash payment of €704.3 million, subject to certain working capital and other customary adjustments. The initial payment, along with transaction-related costs and other associated requirements, was financed through $700 million of borrowings under the delayed draw term loan facility as well as $140 million of borrowings under our revolving credit facility. We are evaluating the accounting for the business combination, including estimating the fair value of the assets acquired and liabilities assumed. Concurrent with the completion of the VI Business acquisition, on June 30, 2025, we settled the foreign currency forward contracts entered to hedge economically against the foreign currency exposure associated with the cash consideration. The settlement of the forward currency contracts resulted in proceeds of $82.2 million. In connection with the acquisition, we also entered into several ancillary agreements with BIOTRONIK SE & Co. KG to help facilitate business continuity and the integration of the business. The agreements primarily relate to transition support and distribution services and have varying durations extending up to 36 months. We will account for these services separately from the business combination, as they were negotiated primarily to benefit Teleflex and do not represent part of the consideration transferred for the acquisition. One Big Beautiful Bill Act On July 4, 2025, the One Big Beautiful Bill (“OBBB”) Act was signed into law, enacting certain extensions and significant modifications to existing U.S. tax law provisions. While we continue to evaluate its implications, we do not currently expect the OBBB Act to have a material impact on our 2025 financial statements.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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