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Integer Holdings Corporation (NYSE: ITGR) is a premier global player in the medical device outsourcing (MDO) industry. With a reputation for excellence in innovation and manufacturing, Integer delivers comprehensive end-to-end solutions that both enhance patient lives and meet the needs of their customers. The company's core business revolves around the creation of medical device components, which are developed and manufactured for original equipment manufacturers (OEMs) across various medical sectors including cardiac, neuromodulation, vascular, portable medical, and orthopedics markets.
In addition to their medical device segment, Integer also operates through Electrochem, an entity focused on developing custom batteries for niche applications in energy, military, and environmental markets. Their portfolio includes renowned brands such as Greatbatch™ Medical and Lake Region Medical™. The company has a substantial footprint in the United States, earning over half of its revenue domestically.
Integer has recently marked significant milestones, including its acquisition of InNeuroCo, Inc., which has bolstered its neurovascular catheter capabilities. The third quarter of 2023 saw Integer reporting organic sales growth of 18% and a 39% increase in adjusted operating income. The company has ongoing strategic expansions, particularly in Europe, with new facilities in Ireland designed to enhance their high-volume manufacturing capacity and R&D capabilities.
Financially, Integer continues to show robust growth with an increase in full-year sales outlook. Their recent acquisition of Pulse Technologies underscores their strategy to enhance precision micro-machining capabilities for medical device components, further expanding their market reach and development capacity. Integer also anticipates strong financial performance in 2024, with projected sales growth between 9% and 11%, and adjusted operating income growth ranging from 13% to 20%.
The company actively engages with investors, providing real-time updates through their comprehensive Investor Relations section on their website. They have streamlined their operations and expanded their capabilities to ensure a seamless transition from R&D to operations for their global clientele.
Learn more about Integer at www.integer.net.
Integer Holdings (NYSE:ITGR) reported strong second quarter 2024 results, with sales increasing 9% to $436 million and organic growth of 5%. GAAP net income rose 30% to $31 million, while non-GAAP adjusted net income increased 17% to $45 million. The company's GAAP diluted EPS grew to $0.88 per share, and non-GAAP adjusted EPS reached $1.30 per share.
Integer's president and CEO, Joseph Dziedzic, highlighted the company's successful strategy execution, with expectations of 9% to 11% above-market sales growth for 2024. The company has raised its full-year adjusted operating income growth outlook to 14% to 21%. Notable product line performances include an 11% increase in Cardio & Vascular sales and a 9% rise in Cardiac Rhythm Management & Neuromodulation sales.
Integer Holdings (NYSE: ITGR) has announced that its 2.125% Convertible Senior Notes due 2028 are now convertible from July 1, 2024, to September 30, 2024. The notes can be converted into cash, shares of Integer's common stock, or a combination of both, at a conversion rate of 11.4681 shares per $1,000 principal amount, equivalent to $87.20 per share.
Additionally, Integer has amended its credit agreement, increasing its revolving credit facility by $300 million, bringing the total to $800 million. This move aims to enhance the company's liquidity, supporting its long-term strategic objectives while maintaining a debt leverage target of 2.5 to 3.5.
Integer Holdings (NYSE: ITGR) announced it will release its financial and operational results for the second quarter of 2024 on July 25, 2024, at 7 a.m. CT (8 a.m. ET). A webcast will follow at 8 a.m. CT (9 a.m. ET) where company management will discuss the results. Investors and interested parties can access the webcast through the company's investor relations website.
Integer Holdings (NYSE: ITGR), a leading global medical device contract development and manufacturing organization, announced its participation in the 2024 Truist Securities MedTech Conference.
The event will take place in Boston on June 17-18, 2024. Integer's President and CEO, Joseph Dziedzic, will present during a fireside chat scheduled for June 18 at 1:55 p.m. ET.
A live webcast of the presentation will be available on the Investor Relations section of the company’s website.
Integer Holdings will showcase its strategic investments at Heart Rhythm 2024, focusing on comprehensive end-to-end solutions to support customers' growth and innovation. The company's recent acquisition of Pulse Technologies brings advanced surface texturing and coating technologies, enhancing the performance and reliability of medical devices across various applications.
Integer Holdings (NYSE: ITGR) will present at the 2024 Bank of America Securities Healthcare Conference on May 14. CEO Joseph Dziedzic will speak at 10:40 a.m. PDT. The live webcast can be accessed on the Investor Relations section of the Integer website.
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