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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) announced the retirement of Bill R. Sanford as Chair of the Board, effective after the 2022 annual meeting on May 18, 2022. Pamela G. Bailey, a long-standing board member since 2002, will succeed him. Sanford has served 14 years as Chair and contributed to the company’s strategic growth. Bailey's extensive experience, including her tenure as President and CEO of AdvaMed, is expected to ensure a seamless leadership transition. Integer is a leading medical device outsource manufacturer serving various markets.
Graham Corporation (NYSE: GHM) announced the appointment of Christopher J. Thome as Vice President - Finance and Chief Financial Officer, effective April 4, 2022. Thome joins from Allied Motion Technologies (NASDAQ: AMOT) with nearly 30 years of finance experience. CEO Daniel J. Thoren expressed optimism about Thome's expertise in financial controls and operational knowledge, which could enhance the company's growth potential in defense and energy sectors. Thome succeeds Jeffrey F. Glajch, who retired.
Integer Holdings Corporation (NYSE: ITGR) reported a strong financial performance for Q4 and FY 2021, highlighting a 16% increase in Q4 sales to $313 million and a 14% increase in full-year sales to $1.221 billion. GAAP income from continuing operations rose by 30% in Q4, reaching $20 million, while full-year GAAP income climbed by 20% to $93 million. The company completed the acquisition of Oscor Inc. in December 2021, contributing to a total debt increase of $197 million to $828 million. Looking ahead, Integer projects sales growth of 10% to 12% for 2022.
Integer Holdings Corporation (NYSE:ITGR) will announce its financial results for Q4 and full year 2021 on February 17, 2022, at 7 a.m. CT. A webcast will follow at 8 a.m. CT to discuss these results and potential forward-looking information. Investors can access the call via domestic and international dial-in numbers or register for the webcast through the provided link. Integer specializes in medical device outsourcing and develops innovative technologies across various healthcare sectors.
Integer Holdings Corporation (ITGR) has successfully acquired Oscor, Inc., enhancing its portfolio in cardiovascular and neurostimulation markets. This acquisition adds specialized medical devices including venous access systems and diagnostic catheters, expanding Integer's product offerings and low-cost manufacturing capacity in the Dominican Republic. The deal is expected to strengthen customer relationships and foster growth through increased R&D capabilities. Oscor, with a legacy of over 40 years in electrophysiology, will significantly enhance Integer's market presence.
Integer Holdings Corporation (NYSE:ITGR) reported a 30% increase in sales for Q3 2021, reaching $306 million. However, GAAP net income fell 27% to $22 million, while non-GAAP adjusted net income surged 109% to $35 million. The company announced the acquisition of Oscor, Inc. for $220 million, which is expected to close in December 2021, enhancing Integer’s product offerings. 2021 sales outlook has been raised, projecting 12% to 14% growth. Integer aims for $200 to $250 million in annual capital for strategic acquisitions.
Integer Holdings Corporation (NYSE:ITGR) will release its Q3 2021 financial and operational results on October 28, 2021, at 7 a.m. CT. A conference call will follow at 8 a.m. CT to discuss these results and any significant forward-looking information. The call can be accessed via domestic and international numbers, with a conference ID of 7357789. An audio replay will be available for seven days post-call. Integer is a leading medical device outsource manufacturer, with a focus on cardiac and neuromodulation technologies.
Integer Holdings Corporation (NYSE: ITGR) announced plans to expand its operations in Galway, Ireland, by constructing a 60,000 square foot Medical Device Innovation and Manufacturing facility. This $30 million investment aims to meet rising demand for medical devices, particularly catheters and delivery systems. The new facility is expected to create 100-200 jobs and enhance R&D capabilities. Construction is slated to begin in 2022, with completion anticipated by late 2023. Integer currently employs around 1,300 people in Ireland, with 350 in Galway.
Integer Holdings Corporation (NYSE: ITGR) has announced a successful refinancing of its debt through the establishment of $1 billion in Senior Secured Credit Facilities. The new five-year $400 million Revolving Credit Facility, $250 million Term Loan A, and seven-year $350 million Term Loan B are expected to enhance operational flexibility and reduce borrowing costs. This transaction will improve future annualized diluted earnings per share by approximately $0.15 and extend the nearest debt maturity from 2022 to 2026.
Both Moody's and S&P upgraded the company's credit ratings to Ba3/BB- following this restructuring.
Integer Holdings Corporation (NYSE: ITGR) will showcase its innovative medical device outsourcing capabilities at the MD&M West Exposition in Anaheim, California, from August 10-12, 2021. At booth #2951, Integer will highlight its advanced Xcellion® Rechargeable Batteries, which reduce charging time by up to 70% and increase runtime by 30%. The company will also present its expanded laser cutting capabilities and comprehensive lead solutions. Integer emphasizes its commitment to quality and innovation in the medical device industry.