CVC Capital Partners and Chicago buyout shop GTCR have lodged a joint offer to take Teleflex private, positioning the deal among the year’s larger med‑tech buyouts. Teleflex, a maker of breathing tubes, catheters and vascular access kits, trades at roughly $124.75 per share, valuing the company at about $5.5 bn. Shares jumped 13.4% in after‑hours trading on the news in a leveraged structure.

The board is reviewing the proposal, but sources stress that no transaction is guaranteed; Teleflex could reject the bid or spark competition from other suitors. Activist investor Irenic Capital Management has recently pressured the board, citing a reluctance to explore strategic alternatives after the firm sold three units for $2.03 bn in December. Management indicated the process could extend into the summer.

CVC, listed in Amsterdam with roughly $241 bn under management, supplies the consortium with global private‑markets scale, while GTCR brings deep healthcare‑services expertise. Neither firm nor Teleflex commented publicly. If the acquisition proceeds, it would consolidate a leading supplier of intensive‑care devices under private‑equity control, potentially reshaping the competitive dynamics of the U.S. med‑tech market and may trigger further consolidation activity.