Jake Elguicze Treasurer and Vice President of Investor Relations 610-948-2836

TELEFLEX REPORTS FIRST QUARTER 2014 RESULTS

First Quarter Revenues Increase 6.5% to $438.5 million; up 6.0% on Constant Currency Basis

First Quarter GAAP Diluted EPS of $0.77 up 20.3%; Adjusted Diluted EPS of $1.22 up 15.1%

Restructuring Plan to Improve Cost Structure of Corporation Announced

2014 Guidance Ranges for Constant Currency Revenue Growth of 7% to 9% and Adjusted Diluted EPS of $5.35 to $5.55 Reaffirmed

Wayne, PA Teleflex Incorporated (NYSE: TFX) (the Company ) today announced financial results for the first quarter ended

First quarter 2014 net revenues were $438.5 million, an increase of 6.5% over the prior year period. Excluding the impact of foreign

currency fluctuations, first quarter 2014 net revenues increased 6.0% over the prior year period.

First quarter 2014 GAAP diluted earnings per share from

continuing operations were $0.77, as compared to $0.64 in the prior year period, an increase of 20.3%. First quarter 2014 adjusted diluted earnings per share from continuing operations were $1.22, as compared to $1.06 in the prior year period, an

Teleflex delivered a solid start to 2014, exceeding our expectations for constant currency revenue growth and adjusted earnings

per share, said Benson Smith, Chairman, President and Chief Executive Officer. Our first quarter performance was aided by the contribution from the acquisitions of Vidacare in December of 2013 and Mayo Healthcare in February of 2014 , an

improvement in the average selling price of products and the introduction of new products to the market as compared to the prior year period.

Mr. Smith, Teleflex s performance in the first quarter supports our belief that the Company remains on target to achieve our previously provided constant currency revenue growth and adjusted diluted earnings per share guidance for

2014. In addition, the Company announced a restructuring plan that is intended to enhance our competitive position in the medical device industry and improve our longer-term profitability. The plan will focus on the consolidation of certain

facilities and the relocation of manufacturing operations from certain higher-cost locations to existing lower-cost locations and will allow the Company to invest in higher growth opportunities.

FIRST QUARTER NET REVENUE BY SEGMENT

January 1, 2014, the Company realigned its operating segments. The realignment in operating segments resulted from changes in the Company s internal reporting structure. The Vascular, Anesthesia/Respiratory and Surgical businesses, which

previously comprised much of the Americas reportable segment, are now separate reportable segments. As a result, the Company now

has six reportable segments: Vascular North America, Anesthesia/Respiratory North America, Surgical North America, EMEA, Asia and OEM. Certain operating segments have been aggregated and are

therefore included in the All other line item.

Vascular North America first quarter 2014 net revenues were $62.5 million, an increase of

10.3% compared to the prior year period. Excluding the impact of foreign currency fluctuations, first quarter 2014 net revenues increased 10.8% compared to the prior year period. The increase in constant currency revenue was largely due to Vidacare

product sales, the introduction of new products to the market and price increases. This was somewhat offset by lower sales volume of existing products.

Anesthesia/Respiratory North America first quarter 2014 net revenues were $54.7 million, a decrease of 5.9% compared to the prior year period. Excluding the

impact of foreign currency fluctuations, first quarter 2014 net revenues decreased 5.6% compared to the prior year period. The decrease in constant currency revenue was largely due to lower sales volume of existing products. This was somewhat offset

by the introduction of new products to the market and price increases.

Surgical North America first quarter 2014 net revenues were $35.2 million, a

decrease of 4.0% compared to the prior year period. Excluding the impact of foreign currency fluctuations, first quarter 2014 net revenues decreased 3.0% compared to the prior year period. The decrease in constant currency revenue was largely due to

lower sales volume of existing products. This was somewhat offset by price increases and the introduction of new products to the market.

quarter 2014 net revenues were $150.2 million, an increase of 5.5% compared to the prior year period. Excluding the impact of foreign currency fluctuations, first quarter 2014 net revenues increased 2.5% compared to the prior year period. The

increase in constant currency revenue was largely due to Vidacare product sales, price increases and the introduction of new products to the market. This was somewhat offset by lower sales volume of existing products.

Asia first quarter 2014 net revenues were $49.6 million, an increase of 17.1% compared to the prior year period. Excluding the impact of foreign currency

fluctuations, first quarter 2014 net revenues increased 20.3% compared to the prior year period. The increase in constant currency revenue was largely due to Mayo Healthcare and Vidacare product sales, price increases and higher sales volume of

OEM and Development Services ( OEM ) first quarter 2014 net revenues were $33.2 million, an increase of 5.9% compared to the

prior year period. Excluding the impact of foreign currency fluctuations, first quarter 2014 net revenues increased 5.3% compared to the prior year period. The increase in constant currency revenue was largely due to higher sales volume of existing

products and the introduction of new products to the market. This was somewhat offset by lower average selling prices.

OTHER FINANCIAL HIGHLIGHTS AND KEY PERFORMANCE METRICS

Depreciation expense and amortization of intangible assets and deferred financing costs for first three months of 2014 were $31.4 million compared to $26.3

million for the prior year period.

Cash and cash equivalents at March 30, 2014 were $421.6 million compared to $432.0 million at December 31,

Net accounts receivable at March 30, 2014 were $295.5 million compared to $295.3 million at December 31, 2013.

Net inventories at March 30, 2014 were $349.7 million compared to $333.6 million at December 31, 2013.

Net debt obligations at March 30, 2014 were $913.1 million compared to $902.7 million at December 31, 2013.

2014 RESTRUCTURING PLAN

On April 28, 2014, the

Board of Directors of the Company approved a restructuring plan (the Plan ) designed to reduce costs, improve operating efficiencies and enhance the Company s long term competitive position. The Plan, which was developed in response

to continuing cost pressures in the healthcare industry, involves the consolidation of operations and a related reduction in workforce at certain of the Company s facilities, and will include the relocation of manufacturing operations from

certain higher-cost locations to existing lower-cost locations. These actions will commence in the second quarter 2014 and are expected to be substantially completed by the end of 2017.

The Company estimates that it will incur aggregate pre-tax charges in connection with these restructuring activities of approximately $42 million to $53

million, of which the Company expects approximately $22 million to $23 million will be incurred in 2014 and most of the balance will be incurred prior to the end of 2016. Generally, the Company expects that it will exclude these charges from its

adjusted diluted earnings per share results. The Company estimates that $32 million to $40 million of the aggregate pre-tax charges will result in future cash outlays, of which the Company expects approximately $9 million to $11 million will be made

in 2014 and most of the balance will be made prior to the end of 2016. In addition, the Company expects to make $24 million to $30 million in capital expenditures in connection with the Plan, of which the Company expects approximately $10 million to

$15 million will be made in 2014.

The following table provides a summary of the Company s current cost estimates by major type of cost associated

The Company currently expects to achieve annualized savings of $28 million to $35 million once the Plan is fully implemented, and currently expects to realize

Plan-related savings beginning in 2015.

As the Plan is implemented, management will continue to evaluate the estimated costs and anticipated savings set

forth above, and may revise its estimates of such costs and anticipated savings and the accounting charges relating thereto, as appropriate, consistent with generally accepted accounting principles.

The Company reaffirmed full year 2014

financial estimates as follows:

Constant currency revenue growth between 7% and 9%.

Adjusted diluted earnings per share in the range of $5.35 to $5.55.

FORECASTED 2014 CONSTANT CURRENCY REVENUE GROWTH RECONCILIATION

FORECASTED 2014 ADJUSTED EARNINGS PER SHARE RECONCILIATION

CONFERENCE CALL WEBCAST AND ADDITIONAL INFORMATION

As previously announced, Teleflex will comment on its financial results on a conference call to be held today at 8:00 a.m. (ET). The call will be available

live and archived on the company s website at www.teleflex.com and the accompanying presentation will be posted prior to the call. An audio replay will be available until May 7, 2014 at 11:59pm (ET), by calling 888-286-8010

(U.S./Canada) or 617-801-6888 (International), Passcode: 11286884.

Constant currency revenue and growth exclude the impact of translating the results of international subsidiaries at different currency exchange rates from

Certain financial information is presented on a rounded basis, which may cause minor differences.

Segment results and commentary exclude the impact of discontinued operations, items included in restructuring and

impairment charges, and losses and other charges set forth in the condensed consolidated statements of income and in the Reconciliation of Consolidated Statement of Income Items set forth below.

NOTES ON NON-GAAP FINANCIAL MEASURES

includes certain non-GAAP financial measures, which include:

Adjusted diluted earnings per share. This measure excludes, depending on the period

presented (i) the effect of charges associated with our restructuring programs, as well as goodwill and other asset impairment charges; (ii) loss on extinguishment of debt; (iii) the gain or loss on sales of businesses and assets;

(iv) losses and other charges related to acquisition and integration costs, the reversal of liabilities related to certain contingent consideration arrangements, the establishment of a litigation reserve and a litigation verdict against the

Company with respect to a non-operating joint venture; (v) amortization of the debt discount on the Company s convertible notes; (vi) intangible amortization expense; and (vii) tax benefits resulting from the resolution of prior

years tax matters and the filing of prior years amended tax returns. In addition, the calculation of diluted shares within adjusted earnings per share gives effect to the anti-dilutive impact of the Company s convertible note hedge

agreements, which reduce the potential economic dilution that otherwise would occur upon conversion of the Company s senior subordinated convertible notes (under GAAP, the anti-dilutive impact of the

convertible note hedge agreements is not reflected in diluted shares).

Constant currency revenue. This measure excludes the impact of translating the

results of international subsidiaries at different currency exchange rates from period to period.

Management believes these measures are useful to

investors because they eliminate items that do not reflect Teleflex s day-to-day operations. In addition, management believes that the calculation of non-GAAP diluted shares is useful to investors because it provides insight into the offsetting

economic effect of the convertible note hedge against conversions of the convertible notes. Management uses these financial measures for internal managerial purposes, when publicly providing guidance on possible future results, and to assist in our

evaluation of period-to-period comparisons. These financial measures are presented in addition to results presented in accordance with generally accepted accounting principles ( GAAP ) and should not be relied upon as a substitute for GAAP

financial measures. Tables reconciling historical non-GAAP measures to the most directly comparable historical GAAP measures are set forth below. Tables reconciling forecasted non-GAAP measures to the most directly comparable forecasted GAAP

measures are set forth above.

RECONCILIATION OF CONSOLIDATED STATEMENT OF INCOME ITEMS

Dollars in millions, except per share amounts

RECONCILIATION OF NET DEBT OBLIGATIONS