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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 Corporation (NYSE: ITGR) will showcase its advanced capabilities in neuromodulation at the 26th North American Neuromodulation Society Annual Meeting in Las Vegas from Jan. 12-14, 2023. The company, a leader in medical device outsourcing, invites attendees to visit booth #525 to explore new implantable devices resulting from the Oscor acquisition in December 2021. Integer will also present its Xcellion Gen 3 Fast Charge Lithium Ion battery technology, offering best-in-class runtime with recharges in just 30 minutes, emphasizing innovation in active implantables.
Integer Holdings Corporation (NYSE:ITGR) announced its participation in the Piper Sandler 34th Annual Healthcare Conference from November 29 to December 1, 2022. CEO Joe Dziedzic will present on November 30, 2022, at 8:10 a.m. ET. The presentation, including a Q&A session, will be available via live webcast on Integer's website, with replays archived for 30 days. Integer is a leading medical device outsource manufacturer serving various markets, including cardiac and orthopedics, and develops specialized batteries for high-end applications.
Integer Holdings Corporation (NYSE:ITGR) reported a 12% increase in sales to $343 million for Q3 2022, but GAAP net income fell 27% to $16 million. Non-GAAP adjusted net income also declined by 9%. Debt increased by $111 million to $939 million, driven by the Aran Biomedical acquisition, leading to a leverage ratio of 3.8 times adjusted EBITDA. Despite challenges in supply chain performance, management anticipates 7% to 9% growth in revenue for 2023, with margin expansion expected. Organic sales growth outlook for 2022 is 4% to 6%.
Integer Holdings Corporation (NYSE: ITGR) provided a revised 2022 outlook amidst ongoing supply chain challenges and strong customer demand. Q3 sales were negatively impacted by $15 million due to supplier issues, leading to an expected $25 million decrease in full-year operating income. Despite higher manufacturing costs, Integer is reducing SG&A expenses by $8 million annually. The 2023 sales outlook remains optimistic at 7-9% growth, driven by strong demand and a robust backlog.
Integer Holdings Corporation (NYSE:ITGR) reported a 12% increase in sales for Q2 2022, totaling $350 million, aided by recent acquisitions. However, GAAP net income decreased by 29% to $21 million, and GAAP diluted EPS dropped to $0.62, down $0.27 per share. The company raised its full-year sales outlook to 12%-14% growth, driven by demand in electrophysiology and structural heart markets. However, total debt rose to $947 million, increasing the leverage ratio to 3.9 times adjusted EBITDA.
Integer Holdings Corporation (NYSE:ITGR) plans to release its financial and operational results for Q2 2022 on July 28, 2022, at 7 a.m. CT / 8 a.m. ET. Following the release, management will host a webcast at 8 a.m. CT / 9 a.m. ET to discuss the results and any other forward-looking information. Key details include domestic and international dial-in numbers and the registration link for the webcast.
Integer Holdings Corporation (NYSE:ITGR) reported a 7% increase in sales to $311 million for Q1 2022, despite facing challenges from COVID-19 absenteeism and supply chain constraints. GAAP net income fell by 47% to $11 million. The company completed the acquisition of Aran Biomedical, enhancing its product offerings in the cardiovascular market, expected to add $90 million in annual sales. For 2022, Integer anticipates 11% to 13% sales growth with continued efforts to improve gross margins and address labor challenges.
Integer Holdings Corporation (NYSE: ITGR) announced the acquisition of Connemara Biomedical Holdings for €120 million, with an additional €10 million contingent on 2022 revenue growth. This acquisition enhances Integer's capabilities in implantable medical devices, particularly in the cardiovascular sector, where Aran Biomedical's expertise in biomaterials will complement Integer's existing offerings. Aran Biomedical generated $17 million in sales in 2021, nearly doubling from the previous year, and the acquisition is immediately accretive to Integer’s sales growth and profit margins.
Integer Holdings Corporation (NYSE:ITGR) will announce its first quarter 2022 financial results on April 28, 2022, at 7 a.m. CT. A conference call will follow at 8 a.m. CT, featuring management's discussion on the results and potential forward-looking insights. Investors can join the call domestically at (888) 330-3567 or internationally at (646) 960-0842, using Conference ID 9252310. The event will also be available via webcast. Integer is a leading medical device manufacturer, serving various markets and providing high-quality technologies.
Integer Holdings Corporation (NYSE:ITGR) announced that CEO Joe Dziedzic and CFO Jason Garland will participate in a virtual fireside chat at the KeyBanc Life Sciences & MedTech Investor Forum. This event is scheduled for March 23, 2022, at 3:45 PM ET. A live webcast will be available on the company's website, with a replay offered post-event. Integer is a leading medical device outsource manufacturer, serving various markets including cardiac and orthopedics, and develops specialized batteries for niche applications.
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