Integer 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 …