Teleflex (TFX) risk factors, FY2025 10-K

Risks Relating to our Business and Operations

1. 01We face strong competition. Our failure to successfully develop and market new products could adversely affect our business
2. 02Our customers depend on third party coverage and reimbursements, and the failure of healthcare programs to provide sufficient coverage and reimbursement for our medical products could adversely affect us55% rewritten
3. 03could harm our business by discouraging customers’ selection of, and reducing the prices they are willing to pay for, our productsNew
4. 04We are subject to extensive government regulation, which may require us to incur significant expenses to ensure compliance. Our failure to comply with those regulations could have a material adverse effect on our business, results of operations, financial condition and cash flows
5. 05We are subject to healthcare fraud and abuse laws, regulation and enforcement; our failure to comply with those laws could have a material adverse effect on our results of operations and financial condition31% rewritten
6. 06$150,000 per year (and up to an aggregate of $1 million per year for “knowing failures”), as adjusted annually for inflationNew
7. 07We may not be successful in achieving expected operating efficiencies and sustaining or improving operating expense reductions, and may experience business disruptions associated with restructuring, facility consolidations, realignment, cost reduction and other strategic initiatives
8. 08The strategic transformation that we are currently implementing may not have the intended results and may be harmful to our businessNew
9. 09Disruptions in sterilization of our products or regulatory initiatives further restricting the use of ethylene oxide in sterilization facilities could adversely affect our results of operations and financial condition
10. 10A significant portion of our U.S. revenues is derived from sales to distributors, and “destocking” activity by these distributors can adversely affect our revenues and results of operations
11. 11Volatility in domestic and global financial markets, including inflation, interest rate fluctuations, and global supply chain disruptions, could adversely impact our results of operations, financial condition and liquidity
12. 12Our strategic initiatives, including acquisitions, may not produce the intended growth in revenue and operating income, which could have a material adverse effect on our operating results
13. 13Our results of operations and financial condition may be adversely affected by public health epidemics or pandemics, as occurred with respect to the recent COVID-19 epidemic and pandemic
14. 14Health care reform may have a material adverse effect on our industry and our business
15. 15We are subject to risks associated with our non-U.S. operations
16. 16Future material impairments to the value of our goodwill or other intangible assets would negatively affect our operating results58% rewritten
17. 17Foreign currency exchange rate, commodity price and interest rate fluctuations may adversely affect our results
18. 18Fluctuations in our effective tax rate and changes to tax laws may adversely affect us
19. 19An interruption in our manufacturing or distribution operations or our supply of raw materials may adversely affect our business
20. 20Our ability to attract, train, develop and retain key employees is important to our success
21. 21We could be adversely affected by our ongoing CEO transitionNew
22. 22Our failure to maintain strong relationships with physicians and other health care professionals could adversely affect us
23. 23Our technology is important to our success, and our failure to protect our intellectual property rights could put us at a competitive disadvantage
24. 24Our products or processes may infringe the intellectual property rights of others, which may cause us to pay unexpected litigation costs or damages or prevent us from selling our products
25. 25Other pending and future litigation may involve significant costs and adversely affect our business
26. 26Disruption of critical information systems or material breaches in the security of our systems may adversely affect our business and customer relationships
27. 27Our operations expose us to the risk of material environmental and health and safety liabilities
28. 28The effects of climate change or legal, regulatory or market measures intended to address climate change could adversely affect our business, results of operations, financial condition and cash flows
29. 29Our workforce covered by collective bargaining and similar agreements could cause interruptions in our provision of products and services

Risks Relating to our Financing Arrangements

1. 30As of December 31, 2025, we had total consolidated indebtedness of $2.7 billion
2. 31Our debt agreements impose restrictions on our business, which could prevent us from pursuing business opportunities and taking other desirable corporate actions, and may adversely affect our ability to respond to changes in our business and manage our operations
3. 32Under our cross-currency swap agreements, a meaningful decline in the U.S. dollar to certain exchange rates could have a material adverse effect on our cash flows27% rewritten

Risks Relating to Ownership of our Common Stock

1. 33We may issue additional shares of our common stock or instruments convertible into our common stock, which could cause the price of our common stock to decline24% rewritten
2. 34We may not pay dividends on our common stock in the future
3. 35Certain provisions of our corporate governing documents, Delaware law and our Senior Notes could discourage, delay, or prevent a merger or acquisition