Integer Holdings Corporation acquired Pulse Technologies, Inc. from Joe Rosato for approximately $200 million.
January 09, 2024
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Integer Holdings Corporation (NYSE:ITGR) acquired Pulse Technologies, Inc. from Joe Rosato for $140 million on January 5, 2024. 250 associates from Pulse Technologies join Integer team. Integer acquired Pulse Technologies for approximately $140 million, subject to customary purchase price adjustments, offset by an expected $15 million NPV tax benefit over 15 years, plus additional consideration contingent on achieving specific revenue growth targets through 2025. Pulse Technologies? estimated full year 2023 sales are approximately $42 million with 2023 adjusted EBITDA expected to be approximately $11 million. Integer expects Pulse Technologies? sales growth and adjusted EBITDA margin to be accretive. The transaction is funded through borrowings under Integer?s existing revolving credit facility. Integer anticipates it will stay within the 2.5x ? 3.5x leverage target following the transaction.
Integer Holdings Corporation (NYSE:ITGR) completed the acquisition of Pulse Technologies, Inc. from Joe Rosato for approximately $200 million on January 5, 2024. The purchase price in an all cash transaction for $138.2 million, subject to customary post-closing adjustments, with up to $20 million of contingent consideration payable based on specified revenue growth milestones being met through 2025.
Integer Holdings Corporation is a medical device outsource (MDO) manufacturing company. The Company serves the cardiac rhythm management, neuromodulation, orthopedics, vascular, advanced surgical and portable medical markets. In addition to providing medical technologies, it develops batteries for high-end niche applications in energy, military and environmental markets. Its brands include Greatbatch Medical, Lake Region Medical and Electrochem. It operates in two segments: Medical and Non-Medical. The Medical segment includes the cardio and vascular; cardiac rhythm management and neuromodulation, and advanced surgical; orthopedics and portable medical product lines. The Non-Medical segment comprises the Electrochem product line. Electrochem provides customized battery power and power management systems where safety, reliability, quality and durability are critical. It designs and manufactures customized primary (non-rechargeable) battery solutions that are used in multiple industries.