integer Archives - Medical Design Sourcing

Integer acquires Pulse Technologies for $140M

Medtech contract manufacturing giant Integer Holdings (NYSE:ITGR) + announced that it has bought Quakertown, Pennsylvania–based Pulse Technologies.

The size of the deal was roughly $140 million. It closed on Jan. 5 and utilized borrowings under Integer’s existing revolving credit facility.

Pulse Technologies is a privately-held medtech supplier focusing on complex micromachining of medical device components for high-growth structural heart, heart pump, electrophysiology, leadless pacing, and neuromodulation markets. Its proprietary technologies include hierarchical surface restructuring (HSR), scratch-free surface finishes, and titanium nitride coatings.

“The acquisition of Pulse Technologies is directly aligned with Integer’s strategy to expand our capabilities and capacity in targeted growth markets,” Payman Khales, president of Cardio & Vascular at Integer, said in a Jan. 10 news release. “We were immedia…

Integer scores a big Q3 earnings beat, closes tuck-in acquisition

Medtech contract manufacturing giant Integer (NYSE: ITGR) + saw its stock jump more than 14% in value today on Street-beating third-quarter earnings and upped guidance.

Plano, Texas–based Integer also announced that it has spent $42 million to acquire certain assets of InNeuroCo to boost its neurovascular catheter capabilities. The deal, which closed Oct. 1, will add $5 million in revenue in the fourth quarter alone from manufacturing the catheters, which are used to treat ischemic stroke and intracranial aneurysms.

The company earned $27 million, or 81¢ per share, off of $405 million in sales for the quarter ended Sept. 29, 2023. The bottom line was up 70%, and the top line was up 18% compared with Q3 2022.

Adjusted to exclude one-time items, Integer’s EPS was $1.27. The result was 17¢ ahead of The Street, where analysts on average expected EPS of $1.10 and revenue of $376.71 million.

“Integer del…

Integer promotes new chief financial officer from within

[Image from Diron Smith’s LinkedIn]Integer announced today that it appointed Diron Smith as executive vice president and chief financial officer, effectively immediately.

Smith has more than 30 years of extensive experience in global financial leadership roles at public companies, including Tiffany & Co and GE, and has served as Integer’s interim CFO since May 2023.

“Throughout his time at Integer, Diron has demonstrated the financial expertise and leadership capabilities necessary to lead our Finance organization and drive continuous improvements throughout the company,” Integer President and CEO Joe Dziedzic said in a news release. “His deep manufacturing and supply chain experience, candid nature, collaborative style and consistent pursuit of excellence make him the ideal candidate to help Integer advance our strategy and achieve our growth goals.”

Before becoming Integer’s VP of financial planning and analysis in August 2021, Smith…

Integer exhibits at 2023 MD&M Minneapolis Expo

NEWS RELEASE: Integer to Exhibit at 2023 MD&M Minneapolis Expo, Oct. 10 – 11

PLANO, Texas, Oct. 06, 2023 – Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource (MDO) manufacturer, will join medtech industry leaders and innovators around the world in exhibiting at the MD&M Minneapolis Exposition from Oct. 10 – 11, 2023, at the Minneapolis Convention Center.

Attendees are invited to visit Integer at booth #3011 to learn more about Integer’s range of innovative end-to-end medical device design, development and manufacturing solutions.

During MD&M Minneapolis, the Integer team will be on hand to discuss how we blend our technology, expertise and resources to amplify our customers’ innovation and increase speed to market, as well as specific capabilities and solutions to enable cardio & vascular, cardiac rhythm management, and neuromodulatio…

Integer’s Q2 results blow past expectations

Medtech contract manufacturing giant Integer (NYSE:ITGR) + saw its stock rise more than 7% today on Street-busting second-quarter results.

Plano, Texas–based Integer earned nearly $24 million, or 71¢ per share, off of $400 million in revenue for the quarter that ended June 30, 2023. The bottom line was up 15%, and the top line rose 14% compared with Q2 2022.

Adjusted to exclude on-time items, Integer had earnings per share of $1.14. The result was 14¢ ahead of the expectations of Wall Street analysts, who on average predicted adjusted EPS of $1 on sales of $367.06 million.

“Integer delivered another strong quarter of sales and profit growth supported by an improving supply chain and labor environment,” Joseph Dziedzic, Integer’s president and CEO, said in a news release. “As we continue to see strong customer demand across our product lines, we are increasing our full-year sales outlook to 12% growth at the midp…

Integer will exhibit at Heart Rhythm 2023 this week

NEWS RELEASE: Integer to Exhibit at Heart Rhythm 2023, May 19 – 21

Visit Booth #2135 to Learn How Integer’s Strategic Growth and Innovation in Medical Device Manufacturing, Design and Development Capabilities Meets Customers’ Evolving Medtech Needs.

PLANO, TEXAS – Integer Holdings Corporation (NYSE: ITGR), a leading medical device outsource (MDO) manufacturer, will join medtech industry leaders around the world in exhibiting at Heart Rhythm 2023, a Heart Rhythm Society (HRS) educational event and exhibition in New Orleans, LA, from May 19 – 21, 2023.

HRS attendees can visit Integer at booth #2135 to learn more about the company’s breadth and depth of innovative medical device manufacturing, design and development capabilities.

Integer’s trusted solutions are designed specifically to help customers accelerate time to market, strength…

Integer to join medtech leaders at Heart Rhythm 2023

Integer Holdings logo

Integer (NYSE:ITGR) will join industry leaders at Heart Rhythm Society’s (HRS) Heart Rhythm 2023 event this week.

The event takes place in New Orleans between May 19 and May 21. Attendees can visit Integer at booth #2135 to learn about the company’s capabilities in medical device manufacturing, design and development.

Integer offers trusted solutions to help customers accelerate time to market, strengthen innovation, simplify supply chain and scale production. Examples include battery technology, finished leads and implantable pulse generators (IPGs) for cardiac applications. It’s also a leading manufacturer of access and complex catheter access solutions in electrophysiology. This includes guidewires, transseptal access, diagnostic and ablation technologies.

“We are excited to be exhibiting at the HRS conference and showcasing our advanced manufacturing…

Medtech jobs: The world’s largest medical device companies are hiring

Medical device companies are trying to fill thousand of medtech jobs. [Photo by ijeab – stock.adobe.com]

The world’s largest medical device companies are still hiring for medtech jobs despite layoffs in tech and other industries.

Medtech developers — and medtech jobs — are resilient, with the industry’s COVID-19 pandemic performance only bolstering its recession-proof reputation.

That’s not to say there haven’t been job cuts in medtech, led by thousands of layoffs at Philips as it struggles with a massive recall of deadly respiratory devices. But most medical device manufacturers are still hiring, and in some cases they can’t attract enough candidates to fill every vacancy in a tight labor market.

Stryker, for example, grew to approximately 51,000 employees as of the end of 2022, increasing its headcount by nearly 11 percent last year. Boston Scientific reported nearl…

Integer stock down on Q4 prelims, convertible notes plans

Integer Holdings (NYSE: ITGR) stock is down — a day after the medtech contract manufacturing giant released preliminary fourth-quarter numbers.

ITGR shares were down more than 7% to $65.30 apiece by midday today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 9%.

Plano, Texas–based Integer said it expects fourth-quarter 2022 sales in the $370–372 million range, an increase of 18–19%. Adjusted to exclude one-time items, EPS were 1.08–1.11.

The results would beat the expectations of Wall Street analysts, who were expecting EPS of $1.01 and sales of $356.45 million.

“Integer delivered fourth quarter and full year 2022 preliminary sales and profit at the high-end of 2022 earnings guidance, while continuing to improve its ability to manage a challenging supply chain environment and deliver results for our customers and the patients they serve,” Integer CEO Joseph Dzied…

Integer to exhibit at NANS annual meeting

Integer Holdings logo

Integer (NYSE:ITGR) announced that it plans to exhibit at the North American Neuromodulation Society (NANS) Annual Meeting this week.

Plano, Texas-based Integer’s showcase takes place at the meeting at Caesars Palace Convention Center in Las Vegas. It spans from Jan. 12 to Jan. 14.

The company, situated at booth #525, intends to offer information about its medical device manufacturing, designs nd development capabilities. These include implantable neuromodulation offerings following the acquisition of Oscor in December 2021, according to a news release.

Integer plans to unveil its latest innovations in neuromodulation. It said these technologies “enable the next-generation of miniaturized active implantable devices.”

Other offerings Integer will display include its new Xcellion Gen-3 fast-charge lithium-ion implantable battery technology. It featu…

‘Integer to exhibit at NANS annual meeting’

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Integer Holdings logo

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Integer (NYSE:ITGR) announced that it plans to exhibit at the North American Neuromodulation Society (NANS) Annual Meeting this week.

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Plano, Texas-based Integer’s showcase takes place at the meeting at Caesars Palace Convention Center in Las Vegas. It spans from Jan. 12 to Jan. 14.

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The company, situated at booth #525, intends to offer information about its medical device manufacturing, designs nd development capabilities. These include implantable neuromodulation offerings following the acquisition of Oscor in December 2021, according to a news release.

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Integer plans to unveil its latest innovations in neuromodulation. It said these technologies “enable the next-generation of miniaturized active implantable devices.”

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Other offerings Integer will display include its new Xcellion Gen-3 fast-charge lithium-ion implantable battery technology…

Integer Q3 results mixed amid supply chain challenges

Integer Holdings (NYSE:ITGR) today reported third-quarter results that beat The Street on earnings but missed on revenue amid continued supply chain challenges.

The Plano, Texas–based medtech contract manufacturing giant had already warned investors early this month. It reported that deteriorating delivery performance and missed commitments from three suppliers would impact Q3 sales by $15 million. In addition, Integer reduced its full-year guidance.

With the supply chain difficulties already priced in, ITGR shares were slightly up this morning, trading at $60.33 apiece. (Integer’s stock is down more than 1% over the past month.) MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 1%.

Integer earned $16 million, or 48¢ per share, off $343 million in sales for the quarter ended Sept. 30, 2022, with the bottom-line down 27% and the top-line up 12% compared with Q3 2021. Read more