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Teleflex (TFX) Signs Peripheral Access Purchasing Deal With PINC
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Teleflex (TFX - Free Report) recently signed the Peripheral Access purchasing agreement with the leading healthcare improvement company, Premier, Inc. (PINC - Free Report) . Effective from Dec 1, 2023, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Teleflex’s Peripheral Access products.
Premier has awarded Teleflex a national multi-source agreement for Peripherally Inserted Central Catheters (PICCs), PICC navigation equipment and Midlines. The latest development will boost the company’s Vascular Access segment.
News in Detail
Teleflex strives to deliver vascular access products that are designed to benefit both clinicians and patients while helping to protect against vascular access-related complications. Through its Arrow Peripheral Access products, the company recently refreshed the portfolio to help healthcare providers optimize patient outcomes, reduce catheter colonization of the major central line-associated infection (CLABSI)-causing pathogens and efficiently streamline insertion procedures.
Image Source: Zacks Investment Research
TFX is pleased to continue to support Premier members with these PICC, Midline and Navigation products. The group purchasing agreement includes access to the Arrow VPS Rhythm DLX Device capital equipment portfolio for PICC placements, Arrow PICCs preloaded with the NaviCurve Stylet, Arrow VPS G4 Capital Equipment portfolio for PICC placements, Traditional Arrow PICCs, Arrowg+ard Blue Advance Antimicrobial/Antithrombogenic PICCs, Traditional Arrow Midlines, Arrowg+ard Blue Advance Antimicrobial/Antithrombogenic Midlines, Arrow Twin Cath Peripheral Catheters and Peripheral Access accessories.
More on the News
Teleflex aims to support vascular access specialists in their efforts to reduce vascular-related complications by offering the world's first antimicrobial and antithrombogenic PICCs and Midlines. Arrowg+ard Blue Advance PICCs and Midlines guards against CLABSI-causing pathogens in areas that are clinically out of reach. This protection lasts while the line is in the patient for at least 30 days.
The next-generation VPS Rhythm DLX Device provides real-time catheter tip location information by using the patient’s cardiac electrical activity. The device features optional ultrasound and works in concert with the Arrow PICC preloaded with the NaviCurve Stylet, providing innovative tip navigation/location technologies. The VPS Rhythm DLX Device with TipTracker Technology eliminates the need for a confirmatory x-ray, helping the clinician insert seamlessly through ultrasound vessel assessment and PICC navigation to final tip confirmation in the lower third of the superior vena cava.
Industry Prospects
Per a Research report, the global vascular access devices market was valued at $1.8 billion in 2022 and is expected to witness a CAGR of 5% by 2030.
Other Developments of Vascular Access
Over the long term, the company is well-placed for dependable growth with category leadership in Central Venous Catheters and Midlines, anticipated share gains with a novel coated PICC portfolio and new product introductions. In the third quarter of 2023, the segment managed to grow 0.3% in revenues amid initiating the voluntary recall for the Arrow Endurance Extended Dwell Peripheral Catheter System.
On the third-quarter earnings call held last month, the company stated that the initial launch activities for the next-generation Arrow VPS Rhythm DLX navigation device and the new Arrow PICC pre-loaded with the NaviCurve Stylet continue to generate a positive customer response and system placements. In August 2023, TFX announced the release of the Arrow ErgoPack Complete Kits with Hemodialysis and Large Bore catheters in the United States. The expanded kit configuration is intended to streamline insertion workflow for clinicians and provide more options to suit their needs.
Price Performance
In the past six months, TFX shares have decreased 3.5% compared with the industry’s decline of 6.2%.
Zacks Rank and Key Picks
Teleflex currently carries a Zacks Rank #3 (Hold).
Haemonetics’stock has decreased 1% in the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.85 to $1.91 in the past 30 days. Shares of the company have dropped 36.5% in the past year compared with the industry’s decline of 3.3%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
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Teleflex (TFX) Signs Peripheral Access Purchasing Deal With PINC
Teleflex (TFX - Free Report) recently signed the Peripheral Access purchasing agreement with the leading healthcare improvement company, Premier, Inc. (PINC - Free Report) . Effective from Dec 1, 2023, the new agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for Teleflex’s Peripheral Access products.
Premier has awarded Teleflex a national multi-source agreement for Peripherally Inserted Central Catheters (PICCs), PICC navigation equipment and Midlines. The latest development will boost the company’s Vascular Access segment.
News in Detail
Teleflex strives to deliver vascular access products that are designed to benefit both clinicians and patients while helping to protect against vascular access-related complications. Through its Arrow Peripheral Access products, the company recently refreshed the portfolio to help healthcare providers optimize patient outcomes, reduce catheter colonization of the major central line-associated infection (CLABSI)-causing pathogens and efficiently streamline insertion procedures.
Image Source: Zacks Investment Research
TFX is pleased to continue to support Premier members with these PICC, Midline and Navigation products. The group purchasing agreement includes access to the Arrow VPS Rhythm DLX Device capital equipment portfolio for PICC placements, Arrow PICCs preloaded with the NaviCurve Stylet, Arrow VPS G4 Capital Equipment portfolio for PICC placements, Traditional Arrow PICCs, Arrowg+ard Blue Advance Antimicrobial/Antithrombogenic PICCs, Traditional Arrow Midlines, Arrowg+ard Blue Advance Antimicrobial/Antithrombogenic Midlines, Arrow Twin Cath Peripheral Catheters and Peripheral Access accessories.
More on the News
Teleflex aims to support vascular access specialists in their efforts to reduce vascular-related complications by offering the world's first antimicrobial and antithrombogenic PICCs and Midlines. Arrowg+ard Blue Advance PICCs and Midlines guards against CLABSI-causing pathogens in areas that are clinically out of reach. This protection lasts while the line is in the patient for at least 30 days.
The next-generation VPS Rhythm DLX Device provides real-time catheter tip location information by using the patient’s cardiac electrical activity. The device features optional ultrasound and works in concert with the Arrow PICC preloaded with the NaviCurve Stylet, providing innovative tip navigation/location technologies. The VPS Rhythm DLX Device with TipTracker Technology eliminates the need for a confirmatory x-ray, helping the clinician insert seamlessly through ultrasound vessel assessment and PICC navigation to final tip confirmation in the lower third of the superior vena cava.
Industry Prospects
Per a Research report, the global vascular access devices market was valued at $1.8 billion in 2022 and is expected to witness a CAGR of 5% by 2030.
Other Developments of Vascular Access
Over the long term, the company is well-placed for dependable growth with category leadership in Central Venous Catheters and Midlines, anticipated share gains with a novel coated PICC portfolio and new product introductions. In the third quarter of 2023, the segment managed to grow 0.3% in revenues amid initiating the voluntary recall for the Arrow Endurance Extended Dwell Peripheral Catheter System.
On the third-quarter earnings call held last month, the company stated that the initial launch activities for the next-generation Arrow VPS Rhythm DLX navigation device and the new Arrow PICC pre-loaded with the NaviCurve Stylet continue to generate a positive customer response and system placements. In August 2023, TFX announced the release of the Arrow ErgoPack Complete Kits with Hemodialysis and Large Bore catheters in the United States. The expanded kit configuration is intended to streamline insertion workflow for clinicians and provide more options to suit their needs.
Price Performance
In the past six months, TFX shares have decreased 3.5% compared with the industry’s decline of 6.2%.
Zacks Rank and Key Picks
Teleflex currently carries a Zacks Rank #3 (Hold).
Two better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) and Insulet (PODD - Free Report) . While Haemonetics presently carries a Zacks Rank #2 (Buy), Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’stock has decreased 1% in the past year. Earnings estimates for Haemonetics have increased from $3.86 to $3.89 in 2023 and $4.11 to $4.15 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have increased from $1.85 to $1.91 in the past 30 days. Shares of the company have dropped 36.5% in the past year compared with the industry’s decline of 3.3%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.