Integer HoldingsInteger Holdings (NYSE:ITGR) posted third-quarter results today that beat the consensus forecast on Wall Street — and announced plans to spend $220 million to acquire Oscor.

The Plano, Texas–based medtech contract manufacturing giant plans to finance the acquisition with debt. Integer officials expect the deal to close in December under customary closing conditions. They see the acquisition broadening Integer’s product portfolio, expanding its R&D capabilities, and adding low-cost manufacturing capacity.

“We’re excited to welcome Oscor’s approximately 900 associates to Integer, who will bring a trusted brand with 40 years of medical device development and manufacturing combined with a complementary product offering and extensive intellectual property portfolio,” Integer CEO Joseph Dziedzic said in a news release.

Dziedzic suggested that Integer is in a financial position to continue shopping: “The execution of our operational strategic imperatives is generating strong earnings and cash flow, which should allow us to annually deploy $200 to $250 million of capital to systematically execute strategic acquisitions.”

Integer is also constructing an innovation and manufacturing facility in Ireland to support its customer’s growth in the structural heart and neurovascular markets.

Integer reported profits of $22 million, or 66¢ per share, on sales of $306 million for the three months ended October 1, 2021, for a bottom-line cut of –27% and sales growth of 30% compared with Q3 2020.

Adjusted to exclude one-time items, earnings per share were $1.05, 21¢ ahead of The Street, where analysts were looking EPS of 84¢ on sales of $303.2 million.

Integer boosted the low end of its 2021 sales outlook to $1.205–1,220 billion. It also increased its net income outlook to $89–98 million.

Investors reacted by sending ITGR shares up 3.68% to $94.86 apiece in morning trading. MassDevice and MDO’s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, slightly increased.