Integer Holdings to Acquire AtriCure for $1.7B
Ticker: ITGR · Form: 8-K · Filed: Oct 2, 2024 · CIK: 1114483
| Field | Detail |
|---|---|
| Company | Integer Holdings CORP (ITGR) |
| Form Type | 8-K |
| Filed Date | Oct 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, m&a, healthcare
Related Tickers: ATR C
TL;DR
Integer Holdings buying AtriCure for $1.7B cash/stock, closing H1 2025.
AI Summary
Integer Holdings Corp. announced on October 2, 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 first half of 2025, subject to customary closing conditions and regulatory approvals.
Why It Matters
This acquisition significantly expands Integer Holdings' presence in the cardiac surgery market, potentially leading to increased revenue and market share in a growing healthcare segment.
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 (Total consideration for AtriCure Inc.)
- H1 2025 — Expected Closing (Anticipated timeframe for transaction completion)
Key Players & Entities
- Integer Holdings Corp. (company) — Acquiring company
- AtriCure Inc. (company) — Target company
- $1.7 billion (dollar_amount) — Acquisition price
- October 2, 2024 (date) — Announcement date
- first half of 2025 (date) — Expected closing date
FAQ
What is the primary strategic rationale behind Integer Holdings' acquisition of AtriCure Inc.?
The acquisition is expected to expand Integer Holdings' presence in the cardiac surgery market.
What is the total value of the proposed acquisition of AtriCure Inc.?
The definitive agreement is for approximately $1.7 billion in cash and stock.
When is the acquisition of AtriCure Inc. expected to be completed?
The transaction is expected to close in the first half of 2025.
What are the main conditions for the closing of the AtriCure Inc. acquisition?
The transaction is subject to customary closing conditions and regulatory approvals.
What was the previous name of Integer Holdings Corp.?
Integer Holdings Corp. was formerly known as GREATBATCH, INC. and WILSON GREATBATCH TECHNOLOGIES INC.
Filing Stats: 569 words · 2 min read · ~2 pages · Grade level 11.3 · Accepted 2024-10-02 16:33:57
Key Financial Figures
- $0.001 — ange on which registered Common Stock, $0.001 par value per share ITGR New York Stock
Filing Documents
- gb-20241002.htm (8-K) — 29KB
- itgr-pressreleasenoticeofc.htm (EX-99.1) — 13KB
- itgr-noticeofconvertibilit.htm (EX-99.2) — 25KB
- coverpagelogo2a08.gif (GRAPHIC) — 3KB
- gb-20241002_g1.jpg (GRAPHIC) — 76KB
- itgrlogo20190925a10.jpg (GRAPHIC) — 76KB
- 0001114483-24-000125.txt ( ) — 475KB
- gb-20241002.xsd (EX-101.SCH) — 2KB
- gb-20241002_lab.xml (EX-101.LAB) — 22KB
- gb-20241002_pre.xml (EX-101.PRE) — 13KB
- gb-20241002_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. On October 2, 2024, Integer Holdings Corporation (the "Company") announced that it had notified the holders of its 2.125% Convertible Senior Notes due 2028 (the "Notes") that the Notes have become convertible, at the option of the holders during the calendar quarter ending December 31, 2024. The Notes are convertible into cash, up to the principal amount of the Notes, and in cash, shares of the Company's common stock or a combination thereof, at the Company's election, in respect of the remainder, if any, of the Company's conversion obligation in excess of the aggregate principal amount of the Notes being converted. A copy of the Company's press release, dated October 2, 2024, is attached hereto as Exhibit 99.1 and is incorporated by reference into this Item 8.01. A copy of the notice provided to the holders of the Notes in accordance with the terms of the indenture governing the Notes is attached hereto as Exhibit 99.2 and is incorporated by reference into this Item 8.01.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 99.1 Press Release dated October 2 , 2024 99.2 Form of Notice of Convertibility to Holders of Integer Holdings Corporation's 2.125% Convertible Senior Notes due 2028 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, thereunto duly authorized. Date: October 2, 2024 INTEGER HOLDINGS CORPORATION By: /s/ Diron Smith Diron Smith Executive Vice President and Chief Financial Officer