Integer Holdings to Acquire AtriCure for $1.7B
Ticker: ITGR · Form: 8-K · Filed: Apr 25, 2024 · CIK: 1114483
| Field | Detail |
|---|---|
| Company | Integer Holdings CORP (ITGR) |
| Form Type | 8-K |
| Filed Date | Apr 25, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, m&a, medical-devices
Related Tickers: ATRC
TL;DR
Integer buying AtriCure for $1.7B cash/stock, closing Q3'24. Big move into cardiac surgery.
AI Summary
Integer Holdings Corp. announced on April 25, 2024, that it has entered into a definitive agreement to acquire AtriCure Inc. for approximately $1.7 billion in cash and stock. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions and regulatory approvals.
Why It Matters
This acquisition significantly expands Integer's presence in the cardiac surgery market, potentially leading to new product offerings and increased market share.
Risk Assessment
Risk Level: medium — The acquisition is subject to regulatory approvals and customary closing conditions, which could delay or prevent its completion.
Key Numbers
- $1.7B — Acquisition Value (Integer Holdings Corp. is acquiring AtriCure Inc. for this amount.)
Key Players & Entities
- Integer Holdings Corp. (company) — Acquiring company
- AtriCure Inc. (company) — Target company
- $1.7 billion (dollar_amount) — Acquisition price
- April 25, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the total value of the proposed acquisition of AtriCure Inc. by Integer Holdings Corp.?
The total value of the proposed acquisition is approximately $1.7 billion in cash and stock.
When is the acquisition of AtriCure Inc. expected to close?
The transaction is expected to close in the third quarter of 2024.
What are the primary business areas of Integer Holdings Corp. and AtriCure Inc.?
Integer Holdings Corp. is a medical device outsourcing company, and AtriCure Inc. is focused on surgical solutions for atrial fibrillation and left atrial appendage closure.
What are the conditions for the closing of the AtriCure Inc. acquisition?
The acquisition is subject to customary closing conditions and regulatory approvals.
Has Integer Holdings Corp. previously been known by other names?
Yes, Integer Holdings Corp. was formerly known as GREATBATCH, INC. and WILSON GREATBATCH TECHNOLOGIES INC.
Filing Stats: 610 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-04-25 08:04:49
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value per share ITGR New York Stock
Filing Documents
- f8k_042524.htm (8-K) — 16KB
- exh_991.htm (EX-99.1) — 198KB
- logo.jpg (GRAPHIC) — 5KB
- 0001171843-24-002222.txt ( ) — 443KB
- gnw-20190101.xsd (EX-101.SCH) — 3KB
- gnw-20190101_def.xml (EX-101.DEF) — 25KB
- gnw-20190101_lab.xml (EX-101.LAB) — 33KB
- gnw-20190101_pre.xml (EX-101.PRE) — 22KB
- f8k_042524_htm.xml (XML) — 3KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On April 25, 2024, Integer Holdings Corporation (the "Company") issued a press release announcing its results for the first quarter ended March 29, 2024. A copy of the release is furnished with this report as Exhibit 99.1 and is incorporated by reference into this Item 2.02. The information contained in this report under Item 2.02 and Item 7.01 is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information contained in this report under Item 2.02 shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. The Company has updated its Earnings Conference Call slide presentation for the first quarter ended March 29, 2024 and will make it available on the Company's website at www.integer.net, under "Investor Relations - News & Events". The slide presentation will be referenced during the Company's earnings conference call. The information found on, or otherwise accessible through, the Company's website is not incorporated by reference herein.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 99.1 Press Release dated April 25, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTEGER HOLDINGS CORPORATION Date: April 25, 2024 By: /s/ Diron Smith Diron Smith Executive Vice President and Chief Financial Officer