Here are seven quick facts.
1. The transaction is expected to close in the third quarter of 2018.
2. After using proceeds from the transaction to pay down debt, Integer expects to be a $1.2 billion company with higher margins, increased net earnings, greater returns on invested capital and lower debt leverage, according to Integer President and CEO Joe Dziedzic.
3. Integer will focus on two of its product lines going forward: cardio and vascular, and vardiac and neuromodulation.
4. The addition of Integer’s surgical and orthopedics product lines will double MedPlast’s size to almost $1 billion in sales and expand the company’s presence in Europe.
MedPlast’s workforce of engineers, technicians and assembly workers at manufacturing facilities in Asia, Central America, Europe and the U.S. will grow to nearly 6,000.
5. The acquisition will augment MedPlast’s metals manufacturing capabilities and strengthen the company’s front-end design, development and prototyping services.
6. This is MedPlast’s third acquisition in the past year. MedPlast acquired Vention Medical’s device manufacturing services business and Coastal Life Technologies in 2017.
7. Integer will retain its portable medical product line.
More articles on supply chain:
Thermo Fisher Scientific and Phononic partner: 3 things to know
UPS enlists former GlaxoSmithKline exec to lead global healthcare logistics strategy — 5 fast facts
ASC supply chain tip of the day: A simple shift prevents overspending
