Key Takeaways
- • KKR has agreed to acquire Integer Holdings Corporation in an all-cash transaction valued at approximately $5.7 billion, with expected closing by year-end 2026, subject to regulatory approvals and shareholder support.
- • Integer shareholders will receive $127 per share, representing a 51.8% premium to the company's April 29, 2026 closing price and a 28.8% premium to the 30-day average price, reflecting strong investor confidence in the valuation.
- • Integer, a leading medical device contract development and manufacturing organization with Q2 2026 revenue of $464 million, will become a private company under KKR ownership, providing access to flexible capital for capacity, technology, and innovation investments.
- • The acquisition follows Integer's announcement of a strategic review in April 2026 due to "strong interest" in the company, demonstrating successful execution of a seller-initiated process that generated significant premium valuation.
- • Integer's customer base includes major medtech firms such as Abbott, Boston Scientific, and Medtronic, positioning the combined entity as a significant player in medical device manufacturing and component supply.
Summary
KKR has agreed to acquire Integer Holdings Corporation for approximately $5.7 billion in an all-cash transaction that will take the medical device manufacturer private. An affiliate of investment funds managed by KKR will acquire all outstanding shares at $127 per share. The transaction represents a 51.8% premium to Integer's closing price on April 29, 2026, when the company announced its strategic review, and a 28.8% premium over the 30-day average price preceding the announcement. The deal is expected to close by the end of 2026, contingent on regulatory approvals and Integer shareholder support.
Integer initiated the strategic review process in April 2026 citing strong buyer interest, ultimately culminating in KKR's successful bid. The acquisition provides Integer with access to KKR's capital resources and operational expertise to fund capacity expansion, technology development, and innovation initiatives. Integer is positioned as one of the largest global medical device contract development and manufacturing organizations, with a diversified customer base including Abbott, Boston Scientific, and Medtronic. The company manufactures finished medical devices and components including electrophysiology catheters, cardiac leads, and batteries serving the broader medtech ecosystem.
In Q2 2026 financial results released concurrent with the acquisition announcement, Integer reported sales of $464 million, representing a 2.6% year-over-year decrease. GAAP earnings per share stood at $0.69, while adjusted EPS showed improvement. Market response to the transaction was positive, with Integer's shares rising approximately 20% to $121.21 following a Wall Street Journal report of the pending deal, reflecting investor recognition of the substantial premium and strategic value creation inherent in the transaction structure.
Integer initiated the strategic review process in April 2026 citing strong buyer interest, ultimately culminating in KKR's successful bid. The acquisition provides Integer with access to KKR's capital resources and operational expertise to fund capacity expansion, technology development, and innovation initiatives. Integer is positioned as one of the largest global medical device contract development and manufacturing organizations, with a diversified customer base including Abbott, Boston Scientific, and Medtronic. The company manufactures finished medical devices and components including electrophysiology catheters, cardiac leads, and batteries serving the broader medtech ecosystem.
In Q2 2026 financial results released concurrent with the acquisition announcement, Integer reported sales of $464 million, representing a 2.6% year-over-year decrease. GAAP earnings per share stood at $0.69, while adjusted EPS showed improvement. Market response to the transaction was positive, with Integer's shares rising approximately 20% to $121.21 following a Wall Street Journal report of the pending deal, reflecting investor recognition of the substantial premium and strategic value creation inherent in the transaction structure.
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