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Greatbatch completes acquisition of Lake Region Medical
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Greatbatch Incorporated recently announced it has completed the acquisition of Lake Region Medical.
“Through this transformative deal, Greatbatch has added scale and diversification to enhance customer access and experience,” Thomas J. Hook, president and chief executive officer of Greatbatch, stated in a company release. “We will continue to execute our strategy to provide customers with a comprehensive portfolio of technologies and services, while maintaining a strong financial profile to drive shareholder return.”
The combined company will, pending shareholder approval, be known as Integer Holdings Corporation. The company, which has reported combined revenues of approximately $1.5 billion, will continue to serve the orthopedics, cardiac, neuromodulation, vascular, advanced surgical and portable medical markets. According to the release, the acquisition was aided by a $1.96 billion financing package from M&T Bank Corporation, Credit Suisse and KeyBanc Capital Markets.
“Combining talents from both organizations will allow us to benefit from the best possible knowledge and insights to ensure we successfully integrate both companies. We’re committed to doing it right, with purposeful execution to maintain a rapid pace for the benefit of our customers, investors and associates,” Hook stated in the release.
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