Integer Holdings (ITGR) Boosts Product Line With New Buyout
Zacks Investment Research | Oct 08, 2019 09:23PM ET
Integer Holdings Corporation (NYSE:ITGR) recently acquired certain assets of US BioDesign — a company manufacturing complex braided biomedical structures for disposable and implantable medical devices. The buyout is likely to add to Integer Holdings’ already broad and robust product portfolio, thereby strengthening its position of being a partner of choice for advanced medical technologies.
Notably, US BioDesign caters to cardiovascular, neurovascular and general surgery markets with nitinol, stainless steel, polymer and other braided structures. These in turn have been enabling the next generation of structural heart, peripheral vascular, neurovascular and electrophysiology products.
Financial Terms of the Acquisition
An upfront payment of $15 million and potential contingent payments in the future comprise as the terms of the agreement. Notably, the acquisition is expected to have a negligible impact on Integer Holdings’ sales and adjusted EPS for the full year 2019.
Benefits of the Deal
The buyout is likely to add differentiated capability for complex braided and formed biomedical structures to Integer Holdings wide array of product portfolio. Moreover, the transaction will enable the company to partner with its customer base to aid patients by developing life-saving medical devices. This in turn is likely to help Integer Holdings to stay ahead of the curve.
Consequently, the buyout will not only allow Integer Holdings to better serve its customers and patients worldwide but also accelerate growth.
Additionally, the acquisition is expected to provide a boost to Cardio and Vascular product line.
Market Prospects
Per a report by Zacks Investment Research
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