Integer Expands Global Presence, Announces Acquisition in Israel
February 19 2020 - 4:05PM
Integer Holdings Corporation (“Integer”) (NYSE: ITGR), a leading
medical device outsource manufacturer, today announced it has
acquired Inomec, formally establishing its presence in Israel. The
acquisition enables Integer to create a research and development
and sales center in the region, and adds important catheter design,
clinical, and pilot manufacturing capabilities to its extensive
portfolio, further positioning the company as a partner of choice
for innovative medical technologies.
“Acquiring Inomec strengthens our research and development
pipeline by adding differentiated capabilities and expanding our
global footprint in a key market with an extensive innovation
ecosystem that is widely recognized as a leader in MedTech
innovation.” said Joe Dziedzic, Integer president and CEO.
Founded in 2008, Inomec specializes in the research, development
and manufacturing of medical devices, including minimally invasive
tools, delivery systems, metal implants, drug-device combination
devices, and laser processing services. Capabilities include
clinical and pilot manufacturing, clean room assembly and packaging
services, polymer and metallic laser welding, and bio-compatible 3D
printing.
“Expanding our capabilities closer to our customers in Israel,
an important region for medical device innovation, will allow us to
more effectively enable our customers’ innovation processes and
accelerate new product development,” said Payman Khales, president
of Integer’s Cardio & Vascular business.
“Integer’s leadership as a medical device outsource manufacturer
is unmatched and we look forward to providing our customers
increased opportunities with our combined capabilities,” said Sefi
Shachrur, Inomec founder and CEO.
Israel (Inomec) will become an important research and
development center, in addition to Plymouth, Minn., Chaska, Minn.,
Clarence, N.Y., Beaverton, Ore., Raynham, Mass., Montevideo,
Uruguay, and Galway, Ireland. This new center will enable Integer
to be surrounded by an extensive pipeline of early and late stage
startups as well as multinational medtech companies located in
Israel, while providing added research and development capabilities
to feed Integer’s other manufacturing facilities globally.
About
Integer®
Integer Holdings Corporation (NYSE:ITGR) is one of the largest
medical device outsource (MDO) manufacturers in the world serving
the cardiac, neuromodulation, vascular, portable medical, advanced
surgical and orthopedics markets. The company provides innovative,
high-quality medical technologies that enhance the lives of
patients worldwide. In addition, it develops batteries for high-end
niche applications in energy, military, and environmental markets.
The company’s brands include Greatbatch® Medical, Lake Region
Medical™, and Electrochem™. Additional information is available at
www.integer.net.
Forward-Looking Statements
Some of the statements contained in this press release are not
statements of historical or current fact. As such, they are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. We have based these
forward-looking statements on our current expectations, and these
statements are subject to known and unknown risks, uncertainties
and assumptions. Forward-looking statements include statements
relating to future sales, expenses, and profitability; future
development and expected growth of our business and industry; our
ability to execute our business model and our business strategy;
our ability to identify trends within our industries and to offer
products and services that meet the changing needs of those
markets; our ability to remain in compliance with our debt
covenants; projected capital expenditures; and other events,
conditions or developments that will or may occur in the future.
You can identify forward-looking statements by terminology such as
“may,” “will,” “should,” “could,” “expects,” “intends,” “plans,”
“anticipates,” “believes,” “estimates,” “predicts,” “potential” or
“continue” or “variations” or the negative of these terms or other
comparable terminology. These statements are only predictions.
Actual events or results may differ materially from those stated or
implied by these forward-looking statements. In evaluating these
statements and our prospects, you should carefully consider the
risks identified and discussed in documents that Integer has filed
or will file from time to time with the U.S. Securities and
Exchange Commission. These risk factors will be important to
consider in determining future results and should be reviewed in
their entirety. Forward-looking statements speak only as of the
date they are made, and, except as may be required by law, Integer
assumes no obligation to update forward-looking statements in this
press release whether to reflect changed assumptions, the
occurrence of unanticipated events or changes in future operating
results, financial conditions or prospects, or otherwise.
Investor RelationsTony
Borowicztony.borowicz@integer.net716.759.5809
Media RelationsKelly
Butlerkelly.butler@integer.net214.618.4216
Integer (NYSE:ITGR)
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