Tue, Oct. 27, 7:24 PM
- Medical device maker Greatbatch (NYSE:GB) has wrapped up its acquisition of Lake Region Medical in a $1.73B deal to create one of the world's largest medical device outsource manufacturers.
- It plans to rename the joined company Integer Holdings Corp., subject to shareholder approval at the May annual meeting.
- Greatbatch secured $1.96B in financing in connection with the deal: $1.6B in senior secured credit facilities, and $360M in 9.125% notes due 2023.
- The combination sports a portfolio featuring Greatbatch Medical, Lake Region Medical and Electrochem as brands, serving the cardiac, neuromodulation, orthopedics, vascular, advanced surgical and portable medical markets.
- Earlier, Greatbatch was down 0.4% in after-hours trading.
Thu, Aug. 27, 7:11 AM
- Greatbatch (NYSE:GB) agrees to acquire privately owned Lake Region Medical for ~$1.73B in cash and stock.
- GB says the deal will create one of the largest medical device OEM suppliers in the world serving the cardiac, neuromodulation, vascular, orthopedic and advanced surgical markets.
- GB expects the transaction to be double-digit accretive to cash EPS in 2016 and meaningfully more accretive thereafter.
Aug. 12, 2014, 3:49 PM
Greatbatch Inc designs and manufactures critical components that help to advance medical device technology across various applications. The Company operates in two segments namely Greatbatch Medical and QiG Group.
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