trending Market Intelligence /marketintelligence/en/news-insights/trending/ye8uq8hqgrpbgrwg8jxoxq2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Integer completes sale of advanced surgical, orthopedics business for $600M

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Video

COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


Integer completes sale of advanced surgical, orthopedics business for $600M

Integer Holdings Corp. completed the sale of its advanced surgical and orthopedics products lines to MedPlast LLC for $600 million in cash.

The Frisco, Texas-based outsource manufacturer said proceeds will be used to reduce debt by about $550 million, including the redemption of its outstanding 9.125% senior notes and repayment of the outstanding balance of its revolving credit facility. The remaining proceeds will be used to prepay outstanding term B loans.

Integer expects the sale to add to non-GAAP earnings per share, while free cash flow will be similar to what it was before the divestiture.

MedPlast expects the acquisition, which does not include Integer's portable medical product line, to strengthen its portfolio of manufacturing solutions.

Piper Jaffray & Co. acted as financial adviser to Integer, with Hodgson Russ LLP as legal adviser.