Driving Transformation
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2020 ANNUAL REPORT TELEFLEX | 2020 ANNUAL REPORT Driving Transformation GROWTH INNOVATION OUTCOMES CORPORATE HEADQUARTERS 550 E. Swedesford Road, Suite 400, Wayne, PA 19087 610.225.6800 | www.teleflex.com 3 | 2020 TELEFLEX ANNUAL REPORT BOARD OF DIRECTORS Karen Boylan Kevin Robinson Dividend Reinvestment Listed in Order of Tenure Corporate Vice President, Vice President and General Teleflex Incorporated offers a Global Strategic Projects Manager, Anesthesia and dividend reinvestment and direct Financial Highlights George Babich, Jr.*1 Emergency Medicine stock purchase and sale plan. Retired President and Gwen Chapman For enrollment information, Chief Executive Officer Corporate Vice President and Greg Stotts please contact American Stock Checkpoint Systems, Inc. Chief Compliance Officer Vice President and Transfer & Trust Company, General Manager, OEM FROM CONTINUING OPERATIONS (Dollars in millions, except per share data) Lead Director John Deren Dividend Reinvestment Department, Compensation Committee Chair Vice President and Ed Weidner 1-877-842-1572 (toll free). Stephen K. Klasko, M.D.*2 Chief Accounting Officer Vice President, Customer Code of Ethics and Experience and Commercial $119,747 $2,595,362 President and CEO Business Guidelines $2,537,156 Michael DiGiuseppe Operations $113,857 $2,448,383 Thomas Jefferson University Vice President and All Teleflex businesses around $106,208 and Jefferson Health General Manager, Jay White the world share a common Code $2,146,303 Stuart A. Randle*1, 2 Respiratory Division and Corporate Vice President and of Ethics, which guides the way $84,770 we conduct business. The Code is 2020 Retired Chief Executive Officer Corporate Accounts President, Global Commercial available on the Teleflex website Net Revenues Ivenix, Inc. Timothy Duffy Mario Wijker at www.teleflex.com. by Reporting Nominating and Governance Vice President and Corporate Vice President, Quality Segment Commitee Chair Chief Information Officer Assurance and Regulatory Affairs Certifications Candace H. Duncan*3 The certifications by the Chief Jake Elguicze James Winters Executive Officer and the Chief Retired Managing Partner Treasurer and Vice President, Corporate Vice President, Financial Officer of Teleflex KPMG LLP Investor Relations Manufacturing and Supply Chain Incorporated required under 17 18 19 20 17 18 19 20 Audit Committee Chair James Ferguson Section 302 of the Sarbanes-Oxley *3 Gretchen R. Haggerty President and General Manager, INVESTOR INFORMATION Act of 2002 have been filed as Retired Executive Vice President Surgical and Latin America Teleflex Incorporated exhibits to Teleflex Incorporated’s Europe, and Chief Financial Officer 2020 Annual Report on Form 550 East Swedesford Road Research and Middle East Asia United States Steel Corp. Michelle Fox 10-K. In addition, in May 2020, Wayne, Pennsylvania 19087 Net Revenues Development Americas and Africa Pacific OEM Corporate Vice President and the Chief Executive Officer of Richard A. Packer*2 Chief Medical Officer Investor Information Teleflex Incorporated certified Primary Executive Director Sunny Goh Market and ownership to the New York Stock Exchange (2.2%) 5.2% 58% 23% 10% 9% Asahi Kasei (“NYSE”) that he is not aware President, APAC of common stock: Variance Variance Andrew A. Krakauer*1 New York Stock Exchange of any violation by the Company Retired Chief Executive Officer Marie Hendrixson Trading symbol: TFX of NYSE corporate governance Cantel Medical Corp. Vice President, listing standards, as required by Internal Audit Investor Relations Section 303A.12(a) of the NYSE $437,143 $11.15 $437,068 Liam J. Kelly Investors, analysts, and others Corporate Governance Rules. $10.67 Chairman, President and Cameron Hicks seeking information about the $9.90 $435,086 Chief Executive Officer Corporate Vice President, company should contact: Independent Registered Teleflex Incorporated Human Resources and Jake Elguicze Public Accounting Firm $8.40 Communications PricewaterhouseCoopers LLP 2020 John C. Heinmiller*3 Teleflex Incorporated (610) 948-2836 Philadelphia, Pennsylvania Net Revenues Retired Executive Vice President Matthew James [email protected] and Chief Financial Officer President, EMEA Forward-Looking by End Market www.teleflex.com St. Jude Medical and Global Urology $426,301 Statements A copy of the Annual Report as filed *Board Committees In accordance with the safe Michael Kryukov with the Securities and Exchange 1 Compensation harbor provisions of the Private Vice President, Tax Commission on Form 10-K, interim 2 Nominating and Governance Securities Litigation Reform Act of Bert Lane reports on Form 10-Q, and current 1995, the company notes that certain 17 18 19 20 17 18 19 20 3 Audit Vice President, reports on Form 8-K can be accessed statements contained in this report on the Investor page of the EXECUTIVE LEADERSHIP Global Logistics and Distribution are forward-looking in nature. These company’s website or can be mailed forward-looking statements include Net Cash Provided Hospitals/ Medical Liam J. Kelly Daniel V. Logue upon request. matters such as business strategies, Corporate Vice President, Adjusted Earnings by Operating Healthcare Device Home Chairman, President and market potential, product deployment, 1 General Counsel and Secretary Transfer Agent and Registrar Per Share Activities Providers Manufacturers Care Chief Executive Officer Questions concerning transfer future financial performance, and other future-oriented matters. Such Thomas E. Powell Jake Newman requirements, lost certificates, Group President, matters inherently involve many risks (4.3%) 0.0% 88% 9% 3% Executive Vice President and dividends, duplicate mailings, Interventional and Vascular change of address, or other and uncertainties. For additional Variance Variance Chief Financial Officer information, please refer to the Daniel Price stockholder matters should be Petro Barchuk addressed to: company’s Securities and Exchange Vice President, Vice President, Commission filings and the Form Commercial Finance American Stock Transfer 10-K included in the Annual Report. Financial Planning and Analysis & Trust Company Tyler Binney 6201 15th Ave President and General Manager, Brooklyn, New York 11219 Interventional Urology (800) 937-5449 (toll free) ¹ A table reconciling adjusted earnings per share to the most directly comparable GAAP measure can be found at the end of this Annual Report. Teleflex, the Teleflex logo, and each of the other brand and product names referenced herein are trademarks or registered trademarks of Teleflex Incorporated or its affiliates, in the U.S. and/or other countries. Driving Transformation Leveraging Our Portfolio As the global healthcare market evolves, Teleflex is driving transformation across every facet of The Teleflex product portfolio our business — from expanding into key clinical comprises many trusted names markets and high-growth global regions, to in medical technology, including innovating differentiated products that can improve Arrow®, Deknatel®, Hudson RCI®, patient outcomes, reduce healthcare costs, and LMA®, Pilling®, Rüsch®, UroLift®, create efficiencies. As we enter 2021, we continue QuikClot®, and Weck®. Each of these our journey from a medium-growth company brands has its own unique position with margin expansion to a high-growth company within its market niche, and together with margin expansion, delivering strong and they share a common purpose: To consistent value for our shareholders, customers, leverage best-in-class technologies and employees. to enable effective clinical solutions for patients and healthcare providers around the world. GROWTH We are driving sustainable, long-term growth across our products, margins, and markets, and we are creating new expansion opportunities for our global constituents. INNOVATION We are bringing advanced medical devices to key clinical markets and high-growth regions around the globe. OUTCOMES We are collaborating with our customers to create effective solutions that improve health outcomes, create efficiencies, and reduce medical costs. 1 | 2020 TELEFLEX ANNUAL REPORT In addition to these measures, we continued to optimize expect it to be immediately accretive to our revenue To Our Shareholders our business and drive margin growth. We also initiated growth rates, adjusted gross and operating margin profile, a workforce reduction plan, streamlining select sales and adjusted earnings per share. The COVID-19 pandemic was the defining event and marketing functions within EMEA, as well as certain manufacturing operations within our OEM segment. Investing in the Future of 2020 for virtually every business in every We took steps to cut our operating expenses, and Innovation remains our core strength, and during 2020, market sector worldwide. Teleflex responded eliminated unnecessary discretionary spending. We will we continued to invest in products and technologies to this crisis swiftly and decisively, working to continue to tighten our belts in order to align with the that differentiate us in high-growth specialty markets provide our innovative products to hospitals, pressures of the current environment while making and offer the potential to drive revenue growth when clinicians, and patients around the globe, while select investments that will capitalize on opportunities the market recovers. We completed the roll-out of our simultaneously protecting the health and well- for long-term profitability. MANTA® Vascular Closure Device, the first commercially being of our employees.