Revenue Growth — Q1 2026
Total continuing operations revenue of $548.3 million in Q1 2026, up 32.3% year-over-year on a GAAP basis and up 5.1% on a pro forma adjusted constant currency basis.
Segment Performance
Surgical revenue grew 9.9% to $106.8 million (driven by ligation clips and instrument order timing); Vascular grew 4.8% to $236.8 million (hemostatic and central venous products); Interventional was $204.7 million, up 3% (intraosseous, right heart and complex catheters).
Strategic M&A and Portfolio Optimization
Completed acquisition of BIOTRONIK's Vascular Intervention business (July 2025) and announced divestitures of acute care, interventional urology and OEM businesses (announced Dec 2025) to create a focused Vascular Access, Interventional and Surgical company; expected net proceeds of ~ $1.8 billion after tax.
Capital Allocation Plan
Announced intention to use divestiture proceeds to fund up to $1 billion share repurchase program and repay $800 million of debt; opportunistic open-market repurchases expected to begin in Q2 2026.
Clinical and R&D Progress — Freesolve
Freesolve (drug-eluting resorbable magnesium scaffold) BIOMAG-II European pivotal trial is enrolling ahead of expectations with a late-2027 data readout targeted; BIOMAG-III (U.S.) planned to initiate in 2026.
Cost Savings and Restructuring
Launched a multiyear restructuring plan expected to deliver approximately $50 million of annual pretax cost savings upon completion (savings to accelerate in H2 2026 and complete by mid-2028).
Guidance and Forward Profile
Maintained 2026 pro forma adjusted constant currency revenue growth guidance of 4.5%–5.5% and adjusted EPS guidance of $6.25–$6.55; company expects a steady-state adjusted operating margin of ~23% post-separation (about 400 bps above fully burdened 2026 guidance).
Governance and Leadership
Board refresh (nomination of Michael J. Tokich; Andrew Krakauer to succeed as Chair) and appointment of new CEO Jason Weidman effective June 8, 2026, aimed at accelerating growth and execution.