Integer Holdings Corporation Completes Divestiture of Non-Medical Business for $50 Million
01 November 2024 - 12:00PM
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 $50 million in
cash.
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 StatementsSome 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 |
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