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Integer Holdings Stock Surges 20% on Report of KKR Takeover Deal
Private equity firm KKR & Co. is nearing an agreement to acquire medical device outsourcing company Integer Holdings Corp., according to a Wall Street Journal report published Friday. The news sent shares of Integer Holdings up by more than 20% in afternoon trading.
The Reported Offer
The potential deal would value Integer Holdings at about $127 per share, the report stated, citing people familiar with the matter. An official announcement could come as soon as next week, though the sources indicated that discussions could still fall apart.
Based in Plano, Texas, Integer Holdings is a key manufacturer for the medical device industry, specializing in the design, development, and production of medical devices, components, and related technologies for other companies.
AdMarket Reaction
Following the report, investors reacted swiftly, driving the price of Integer Holdings (NYSE: ITGR) shares sharply higher. Before the surge, the company had a market capitalization of $3.42 billion, according to LSEG data.
The potential acquisition highlights continued interest from private equity in the healthcare and medical technology sectors, which are often valued for their stable cash flows and resilience to economic downturns. A takeover by a firm like KKR would take Integer Holdings private.
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