Integer Announces Acquisition of US BioDesign Assets
Integer Holdings Corporation (“Integer”), 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.
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.
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