Integer Holdings Corporation Completes Divestiture of Non-Medical Business for $50 Million
Integer Holdings (NYSE: ITGR) has completed the sale of its Electrochem business to Ultralife for $50 million in cash. The company will use the proceeds to reduce its outstanding debt. This divestiture transforms Integer into a pure-play medical technology company, focusing exclusively on its medical device contract development and manufacturing operations (CDMO). The strategic move aims to enable Integer to deploy additional capital in high-growth medtech markets.
Integer Holdings (NYSE: ITGR) ha completato la vendita della sua attività Electrochem a Ultralife per 50 milioni di dollari in contanti. L'azienda utilizzerà le entrate per ridurre il proprio debito in essere. Questa dismissione trasforma Integer in una società di tecnologia medica puramente dedicata, concentrandosi esclusivamente sulle sue operazioni di sviluppo e produzione di dispositivi medici (CDMO). Questa mossa strategica mira a consentire a Integer di investire ulteriore capitale in mercati medtech ad alta crescita.
Integer Holdings (NYSE: ITGR) ha completado la venta de su negocio Electrochem a Ultralife por 50 millones de dólares en efectivo. La compañía usará los ingresos para reducir su deuda pendiente. Esta desinversión transforma a Integer en una empresa de tecnología médica puramente dedicada, enfocándose exclusivamente en sus operaciones de desarrollo y fabricación de dispositivos médicos (CDMO). Este movimiento estratégico tiene como objetivo permitir que Integer despliegue capital adicional en mercados de medtech de alto crecimiento.
Integer Holdings (NYSE: ITGR)는 Electrochem 비즈니스를 Ultralife에 현금 5천만 달러에 매각했습니다. 이 회사는 매각 수익금을 사용하여 미지급 부채를 줄일 것입니다. 이 매각으로 Integer는 순수 의료 기술 회사로 전환되어 의료 기기 계약 개발 및 제조 운영(CDMO)만을 집중하게 됩니다. 이 전략적 조치는 Integer가 고성장 메드텍 시장에 추가 자본을 배치할 수 있도록 하는 것을 목표로 합니다.
Integer Holdings (NYSE: ITGR) a achevé la vente de son activité Electrochem à Ultralife pour 50 millions de dollars en espèces. L'entreprise utilisera les bénéfices pour réduire sa dette en cours. Cette cession transforme Integer en une entreprise de technologie médicale purement spécialisée, se concentrant exclusivement sur ses opérations de développement et de fabrication de dispositifs médicaux (CDMO). Ce mouvement stratégique vise à permettre à Integer d’investir des capitaux supplémentaires sur des marchés medtech à forte croissance.
Integer Holdings (NYSE: ITGR) hat den Verkauf seines Electrochem-Geschäfts an Ultralife für 50 Millionen Dollar in bar abgeschlossen. Das Unternehmen wird die Erlöse nutzen, um seine ausstehenden Schulden zu reduzieren. Diese Abspaltung verwandelt Integer in ein reines Medizintechnikunternehmen, das sich ausschließlich auf seine Vertragsentwicklungs- und Fertigungsoperations (CDMO) für medizinische Geräte konzentriert. Dieser strategische Schritt zielt darauf ab, Integer zu ermöglichen, zusätzliches Kapital in wachstumsstarke Medtech-Märkte zu investieren.
- Received $50 million in cash from the sale of Electrochem business
- Debt reduction through sale proceeds
- Strategic focus on pure-play medical technology business
- Increased capital availability for high-growth medtech markets
- Loss of revenue stream from Electrochem business division
Insights
The
Electrochem divestiture makes Integer a pure-play medical technology company
PLANO, Texas, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR), a leading medical device contract development and manufacturing organization (CDMO), today announced the completion of the previously announced sale of its Electrochem business to Ultralife Corporation for
Integer will use the proceeds from the sale to pay down outstanding debt.
“With the divestiture of Electrochem, Integer is now a pure-play medical technology company with additional capital to deploy in high-growth medtech markets,” said Joseph Dziedzic, Integer President & CEO. “I would like to thank the Electrochem team for all their contributions over the years. We think Electrochem has a bright future under the ownership of Ultralife.”
To learn more about Integer, visit www.integer.net.
About Integer®
Integer Holdings Corporation (NYSE:ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMO) in the world, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. As a strategic partner of choice to medical device companies and OEMs, Integer is committed to enhancing the lives of patients worldwide by providing innovative, high-quality products and solutions. The company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
Forward-Looking Statements
Some of the statements contained in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the statement relating to our use of proceeds from the transaction. You can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or variations or the negative of these terms or other comparable terminology. These statements are only predictions and actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements, you should carefully consider a number of factors, including, but not limited to, risks and uncertainties that arise from time to time and are described in Item 1A “Risk Factors” of our Annual Report on Form 10-K and in our other periodic filings with the SEC. Except as may be required by law, we assume no obligation to update forward-looking statements in this press release, whether to reflect changed assumptions, the occurrence of unanticipated events or changes in future operating results, financial conditions or prospects, or otherwise.
| Investor Relations: | Media Relations: |
| Andrew Senn | Kelly Butler |
| andrew.senn@integer.net | kelly.butler@integer.net |
| 763.951.8312 | 469.731.6617 |
FAQ
How much did Integer Holdings (ITGR) sell its Electrochem business for?
What will Integer Holdings (ITGR) do with the proceeds from the Electrochem sale?
What type of company is Integer Holdings (ITGR) after the Electrochem divestiture?
Who purchased Integer Holdings' (ITGR) Electrochem business?
