KKR to acquire Integer for $5.7bn
KKR will take medical device manufacturer Integer Holdings Corporation private in a $5.7 billion all-cash transaction. Integer is a CDMO of medical devices for cardiology and vascular care, neuromodulation and cardiac rhythm management. KKR will establish a broad-based employee ownership and engagement program at Integer when the deal closes. Integer is based in Plano, Texas.
An agreement has been reached for KKR to acquire Integer Holdings Corporation in an all-cash transaction valued at $5.7 billion. Integer's board of directors unanimously approved this agreement. This acquisition will transition Integer, a medical device manufacturer, into private ownership under KKR. The transaction is anticipated to conclude by the end of 2026. This acquisition is part of KKR's core private equity strategy, funded by a combination of equity and committed debt financing. Integer, headquartered in Plano, Texas, operates as a global contract development and manufacturing organization (CDMO) specializing in medical devices. These devices are utilized in several medical fields, including cardiology and vascular care, neuromodulation, and cardiac rhythm management. The company's brands include Greatbatch Medical and Lake Region Medical, and it maintains offices across North and South America, Europe, and the Asia-Pacific region. KKR's strategy involves investing in Integer's operational capabilities, including capacity, technology, and innovation. The firm also plans to implement a broad-based employee ownership and engagement program at Integer following the closing of the deal. KKR partner Max Lin stated that Integer is an exceptional platform with differentiated capabilities, a global manufacturing footprint, and a strong record of quality and reliability in attractive end-markets. This acquisition signals continued private equity interest in the healthcare sector, particularly within medical device manufacturing and CDMOs. The focus on employee ownership programs also highlights a trend towards aligning employee incentives with company performance under private equity ownership.