Integer Holdings has completed its previously announced acquisition of Oscor, a privately held medical device company headquartered in Florida, US.
The acquisition closed more than a month after Integer signed an agreement to acquire the company for $220m.
Oscor focuses on manufacturing highly specialised medical devices, such as venous access systems, diagnostic catheters and implantable devices.
The company’s product portfolio includes finished introducer systems, guiding sheaths and lead wire technologies for cardiac pacing, neurostimulation, electrophysiology, cardiovascular and peripheral vascular requirements.
Oscor employs approximately 900 people. As well as its headquarters in Florida, the company has design, development and manufacturing operations located in the Dominican Republic and business offices in Germany.
The acquisition will strengthen Texas-based Integer’s product portfolio as well as bolster its research and development (R&D) and manufacturing capabilities.
Integer president and CEO Joe Dziedzic said: “The acquisition of Oscor strengthens Integer’s ability to serve our customers by expanding our product offering in steerable sheaths and cardiac and neurostimulation leads and adding low-cost manufacturing capacity to support growth.
“The addition of Oscor’s strong brand will deepen our relationships with existing customers, bring new customers to Integer, and allow us to build relationships with several emerging growth companies.”
As agreed earlier, the purchase price was financed with debt. The structure of the deal is expected to offset cash taxes by around $43m over the next 15 years.
Oscor owner, president and CEO Thomas Osypka said: “Since launched by my father, Dr Peter Osypka, nearly 40 years ago, Oscor has been a pioneer in the field of implantable medical technology and electrophysiology.
“I am proud of Oscor’s strong record of accomplishments, which the team can now accelerate by uniting with Integer.”
Integer Holdings is a medical device outsource (MDO) manufacturer serving markets that include cardiac, advanced surgical, orthopaedic and neuromodulation.
Last year, the firm acquired Israeli medical device development and manufacturing company Inomec.