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CST: 17/10/2019 15:49:53   

Integer Announces Acquisition of US BioDesign Assets

9 Days ago

PLANO, Texas, Oct. 07, 2019 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (“Integer”) (NYSE:ITGR), a leading medical device outsource manufacturer, today announced it has purchased certain assets of US BioDesign, a manufacturer of complex braided biomedical structures for disposable and implantable medical devices headquartered in Quakertown, Pa. The acquisition will add differentiated capability for complex braided and formed biomedical structures to Integer’s broad portfolio, further positioning Integer as a partner of choice for innovative medical technologies.

Founded in 2011, US BioDesign serves the cardiovascular, neurovascular and general surgery markets with nitinol, stainless steel, polymer and other braided structures that are enabling the next generation of structural heart, peripheral vascular, neurovascular and electrophysiology products. They also provide product development, material testing and post-processing services, including electropolishing and packaging.

“The acquisition of US BioDesign assets will allow us to partner with our customers to enhance patient lives in new ways,” said Integer President and CEO Joe Dziedzic. “US BioDesign has demonstrated engineering prowess in the area of complex braided and formed biomedical structures, which will set us apart from the competition as we partner with customers to develop life-saving medical devices.”

Integer intends to grow the Quakertown site as a research and development hub, including moving forward with an already planned expansion. Tom Molz, currently President and CEO of US BioDesign, will continue to cultivate the complex braiding business while reporting to Payman Khales, president of Integer’s cardio and vascular business.

“We are excited to bring our complex braided biomedical structures and capabilities to the leader in medical device outsource manufacturing,” said Molz. “Our combined capabilities, engineering and innovation will allow us to accelerate our growth while better serving our customers and their patients worldwide.”

Terms of the agreement include an upfront payment of $15 million and potential contingent payments in the future. The impact on sales and adjusted EPS for the current year is expected to be de minimis.

About Integer ®

Integer Holdings Corporation (NYSE:ITGR) is one of the largest medical device outsource (MDO) manufacturers in the world serving the cardiac, neuromodulation, vascular, portable medical, advanced surgical and orthopedics markets. The company provides innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition, it develops batteries for high-end niche applications in energy, military, and environmental markets. The company’s brands include Greatbatch™ Medical, Lake Region Medical™, and Electrochem™. Additional information is available at www.integer.net.

Forward-Looking Statements

Some of the statements contained in this press release are not statements of historical or current fact. As such, they 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. We have based these forward-looking statements on our current expectations, and these statements are subject to known and unknown risks, uncertainties and assumptions. Forward-looking statements include statements relating to future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; our ability to identify trends within our industries and to offer products and services that meet the changing needs of those markets; our ability to remain in compliance with our debt covenants; projected capital expenditures; and other events, conditions or developments that will or may occur in the future. 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. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the risks identified and discussed in documents that Integer has filed or will file from time to time with the U.S. Securities and Exchange Commission. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. Forward-looking statements speak only as of the date they are made, and, except as may be required by law, Integer assumes 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
Tony Borowicz
tony.borowicz@integer.net
716.759.5809
 
Media Relations
Kelly Butler
kelly.butler@integer.net
214.618.4216

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