Breaking News

Teleflex Gets a New CFO

March 14, 2012

Move, company says, is part of plan to aggressively pursue medtech growth.

Teleflex Inc. has replaced its chief financial officer.

Following a little more than two years with the company, Richard A. Meier's employment with the company was “terminated” on March 9, according to a statement from the company.

Thomas E. Powell will take over the role. Powell joined the company last year as the vice president for global finance. Powell had previously worked as CFO for Tomo Therapy. He also served as the CFO of Textura Corp., a business solutions company, in 2008.

"Tom Powell joined our organization last year as part of our succession planning for key executive positions at Teleflex," said Benson Smith, president and CEO. "His contributions to our recent progress, combined with his background as CFO of two other publicly traded companies, as well as his medical technology industry experience, provide us with a very capable and seasoned executive to lead our finance organization as we implement our growth strategies."

The Limerick, Pa.-based company, has been growing its medical device business with more than 15 acquisitions since 1981. The firm divested its aerospace and cargo business in October last year for $280 million to an AAR Corp. It sold its marine business to an H.I.G. Capital affiliate for $121.6 million in March last year as well.

In a conference call discussing its fourth-quarter earnings last month, the company said it had made some cuts to its sales force in two areas to focus on areas where it would get the most leverage. Revenue was forecast to grow at 6.7 percent to $1.5 billion. Earnings per share rose 34 percent to $2.96.

The company has three specialty areas: critical care, surgical care and cardiac care, along with its overseas export market division.

  • An FAQ on Adaptive Design for Device Trials

    An FAQ on Adaptive Design for Device Trials

    Vicki Anastasi, Vice President and Global Head, Medical Devices & Diagnostics Research, ICON plc||November 9, 2016
    This “Ask the Experts” style article provides insights regarding common questions posed about this trial strategy.

  • Georgia Facility Lends a Commercial Eye to Medical Innovation

    Georgia Facility Lends a Commercial Eye to Medical Innovation

    Sam Brusco, Associate Editor||November 7, 2016
    Atlanta's Global Center for Medical Innovation guides medtech developers from breakthrough concepts to commercial products.

  • Where Are Your ‘Attack’ Vectors?

    Where Are Your ‘Attack’ Vectors?

    Vicki A. Barbur, Ph.D.||November 4, 2016
    Cybersecurity is of critical importance to not only medical devices, but the manufacturing floor as well. Are you prepared?