Integer Holdings Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Integer Holdings Corp. has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

Integer Holdings Corp (ITGR) filed a Annual Report (10-K) with the SEC on February 20, 2024. Integer Holdings Corp. filed its 10-K report for the fiscal year ending December 31, 2023. The company was formerly known as Greatbatch, Inc. and Wilson Greatbatch Technologies Inc. The filing covers the period from January 1, 2023, to December 31, 2023. The company's business address is 5830 Granite Parkway, Suite 1150, Plano, TX 75024. Integer Holdings Corp. operates in the Electromedical & Electrotherapeutic Apparatus industry (SIC 3845).

Why It Matters

For investors and stakeholders tracking Integer Holdings Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Integer Holdings Corp.'s financial health, operational performance, and strategic direction for the fiscal year 2023. Understanding the details within this report is crucial for investors and stakeholders to assess the company's current standing and future prospects in the electromedical apparatus market.

Risk Assessment

Risk Level: medium — Integer Holdings Corp shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual report. However, the absence of specific financial figures and operational details in the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to form a complete investment thesis.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-02-20 — Filing Date (FILED AS OF DATE)
• 3845 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)

Key Players & Entities

• Integer Holdings Corp. (company) — CONFORMED NAME
• Greatbatch, Inc. (company) — FORMER COMPANY
• Wilson Greatbatch Technologies Inc (company) — FORMER COMPANY
• DE (location) — STATE OF INCORPORATION
• TX (location) — STATE
• Plano (location) — CITY

FAQ

Industry Context

Integer Holdings Corp. operates within the Electromedical & Electrotherapeutic Apparatus industry, a sector focused on medical devices that use electrical energy for diagnosis or therapy.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Access and review the full 10-K filing for detailed financial statements and disclosures.
2. Analyze the Management's Discussion and Analysis (MD&A) section for insights into the company's performance and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing Integer Holdings Corp.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-20: Filing Date — Date the 10-K report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing information provided for Integer Holdings Corp.'s 2023 10-K. Comparative data from previous filings is not available in this extract.

Key Financial Figures

• $0.001 — ich registered Common Stock, Par Value $0.001 Per Share ITGR New York Stock Exchange
• $88 — arter), based on the last sale price of $88.61, as reported on the New York Stock E
• $917 million — at December 31, 2023 were approximately $917 million. The majority of the orders outstanding

Filing Documents

• gb-20231231.htm (10-K) — 2697KB
• a10_37formofchangeofcontro.htm (EX-10.37) — 97KB
• a10_38formofchangeofcontro.htm (EX-10.38) — 106KB
• a10_43employmentofferlette.htm (EX-10.43) — 33KB
• a10_45separationagreementa.htm (EX-10.45) — 55KB
• a10_46separationagreementa.htm (EX-10.46) — 58KB
• itgr-20231231ex211.htm (EX-21.1) — 19KB
• itgr-20231231ex231.htm (EX-23.1) — 2KB
• itgr-20231231ex311.htm (EX-31.1) — 11KB
• itgr-20231231ex312.htm (EX-31.2) — 11KB
• itgr-20231231ex321.htm (EX-32.1) — 7KB
• integerholdingscorporation.htm (EX-97) — 23KB
• gb-20231231_g1.jpg (GRAPHIC) — 76KB
• gb-20231231_g2.jpg (GRAPHIC) — 122KB
• image_1.jpg (GRAPHIC) — 28KB
• image_2.jpg (GRAPHIC) — 1KB
• image_3.jpg (GRAPHIC) — 9KB
• 0001114483-24-000034.txt (&nbsp;) — 16267KB
• gb-20231231.xsd (EX-101.SCH) — 97KB
• gb-20231231_cal.xml (EX-101.CAL) — 144KB
• gb-20231231_def.xml (EX-101.DEF) — 534KB
• gb-20231231_lab.xml (EX-101.LAB) — 1233KB
• gb-20231231_pre.xml (EX-101.PRE) — 886KB
• gb-20231231_htm.xml (XML) — 2710KB

, Item 10

Part III, Item 10 "Directors, Executive Officers and Corporate Governance"

, Item 11

Part III, Item 11 "Executive Compensation"

, Item 12

Part III, Item 12 "Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters"

, Item 13

Part III, Item 13 "Certain Relationships and Related Transactions, and Director Independence"

, Item 14

Part III, Item 14 "Principal Accountant Fees and Services" INTEGER HOLDINGS CORPORATION ANNUAL REPORT ON FORM 10-K For the Year Ended December 31, 2023 TABLE OF CONTENTS PART I PAGE Item 1.

Business

Business 3 Item 1A .

Risk Factors

Risk Factors 17 Item 1B . Unresolved Staff Comments 29 Item 1C . Cybersecurity 30 Item 2.

Properties

Properties 32 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 32 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 33 Item 6. [Reserved] 33 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 49 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 104 Item 9A.

Controls and Procedures

Controls and Procedures 104 Item 9B. Other Information 104 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III Item 10. Directors, Executive Officers and Corporate Governance 105 Item 11.

Executive Compensation

Executive Compensation 105 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105 Item 13. Certain Relationships and Related Transactions, and Director Independence 105 Item 14. Principal Accou nta nt Fees and Services 105 PART IV Item 15. Exhibits and Financial Statement Schedules 106 Item 16. Form 10-K Summary 110

Signatures

Signatures 111 - 2 - Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS OVERVIEW Integer Holdings Corporation, headquartered in Plano, Texas, is among the world's largest medical device outsource ("MDO") manufacturing companies, serving the cardiac rhythm management, neuromodulation, orthopedics, vascular, advanced surgical and portable medical markets. We provide innovative, high-quality medical technologies that enhance the lives of patients worldwide. In addition to medical technologies, we develop batteries for high-end niche applications in energy, military, and environmental markets. Our brands include Greatbatch Medical , Lake Region Medical and Electrochem . Our primary customers include large, multi-national original equipment manufacturers ("OEMs") and their affiliated subsidiaries. When used in this report, the terms "Integer," "we," "us," "our" and the "Company" mean Integer Holdings Corporation and its subsidiaries. We organize our business into two reportable segments, Medical and Non-Medical, and derive our revenues from four principal product lines. The Medical segment includes the Cardio & Vascular, Cardiac Rhythm Management & Neuromodulation and Advanced Surgical, Orthopedics & Portable Medical product lines and the Non-Medical segment comprises the Electrochem product line. Our Acquisitions Effective as of October 1, 2023, we acquired substantially all of the assets and assumed certain liabilities of InNeuroCo, Inc. ("InNeuroCo"), a privately-held company based in Florida. A recognized leader in neurovascular catheter innovation with strong development and manufacturing capabilities, InNeuroCo's expertise and highly differentiated neurovascular catheter innovation complements our existing capabilities and market focus, while further increasing our ability to provide enhanced solutions to our customers in the neurovascular catheter space. On April 6, 2022, we acquired 100% of the outstanding equity interests of Connemara Biomedical Holdings Teoranta, including its operating subsidiaries Aran Bi

View Full Filing

View this 10-K filing on SEC EDGAR