Integer has acquired Pulse Technologies, a contract manufacturer specialising in complex micro machining of medical device components, for $140m.
Based in the US, Pulse Technologies serves various markets including structural heart, neuromodulation, electrophysiology, heart pump and leadless pacing.
The company is also known for its advanced technologies such as Hierarchical Surface Restructuring and Titanium Nitride Coatings.
The transaction is expected to bolster Integer’s end-to-end development capabilities.
It will also strengthen Integer’s manufacturing footprint in targeted growth markets, offering customers more resources, capacity and capabilities to accelerate time for a product to reach market.
Integer funded the deal through borrowings under its existing revolving credit facility. The move is consistent with its tuck-in acquisition strategy.
Integer Cardio & Vascular president Payman Khales said: “The acquisition of Pulse Technologies is directly aligned with Integer’s strategy to expand our capabilities and capacity in targeted growth markets.
“We were immediately impressed with Pulse Technologies’ long-standing customer relationships, technical talent, unique technologies, shared values and capacity for growth.
“The company shares Integer’s commitment to quality, innovation and enhancing the lives of patients, and we are thrilled to welcome their 250 associates to the Integer team.”
Pulse Technologies’ estimated sales for 2023 are around $42m, with adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of nearly $11m.
Pulse Technologies owner, president and CEO Joe Rosato said: “Our founders Bob Walsh and Frank Henofer started Pulse Technologies over 31 years ago with a focus on implantable medical components and assemblies serving high growth sectors of the market.
“With years of prudent investments in R&D and advanced technology, we have been successful servicing the world’s largest MedTech OEMs.
“The acquisition by Integer, with their global scale and best-in-class capabilities, will accelerate our growth opportunities and will further enhance our value proposition to our most valued customers.”
