June 30, 2022

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Integer acquires Aran Biomedical for $131 million

Integer acquired Connemara Biomedical Holdings Teoranta together with its working subsidiaries Aran Biomedical and Proxy Biomedical, that are collectively known as Aran Biomedical.

The corporate purchased Aran Biomedical in a deal value $130.7 million (€120 million), with an extra cost of as much as $10.89 million (€10 million) ) topic to the latter attaining the 2022 income development milestones.

Integer used borrowings underneath the corporate’s present revolving credit score facility for the deal.

Aran Biomedical affords design, growth and manufacturing options for implantable medical gadgets.

It additionally gives medical textiles and biomaterial coatings and coatings, in addition to superior metallic and polymer braidings.

The corporate converts ideas into implantable options utilizing biomaterials experience and high quality assured processing capabilities.

Integer mentioned the acquisition of Aran Biomedical additional will increase its potential to offer complete options for complicated supply and therapeutic gadgets within the cardiovascular markets, reminiscent of peripheral vascular, neurovascular, endovascular, structural cardiac and common surgical procedure.

Integer President and CEO Joe Dziedzic mentioned, “The acquisition of Aran Biomedical is absolutely aligned with our technique to develop our presence in excessive development markets.

“Aran brings material experience and extremely differentiated implant expertise options to our portfolio.

“Combining these expertise options and experience with Integer’s management in supply methods and manufacturing scale will carry unparalleled potential to fulfill our prospects’ wants and be their companion of option to develop the following era of life-saving and life-enhancing medical gadgets.

Following the acquisition, Aran’s 130 associates joined the Integer staff.

Aran Biomedical CEO Peter Mulrooney mentioned, “Combining Aran Biomedical’s proprietary biomaterial implant applied sciences with Integer’s world-class supply methods will result in a extra differentiated service providing for the medical machine trade.