Integer Shares Fall to $126.55 as KKR Deal Nears Completion
Key Facts
Integer Holdings shares closed at $126.55 on October 28, down from $126.74 in the previous session, according to EL7 data, as attention turns to KKR’s proposed acquisition of the company. The move came ahead of the expected completion date for the deal, under which an affiliate of funds managed by KKR has offered to buy all outstanding shares for $127 in cash per share. The transaction values the company at about $5.7 billion, according to an Integer statement. The company’s shareholders approved the acquisition-related proposals on October 21, according to EL7 records. In September, the company said the deal was expected to close by the end of 2026, with the remaining closing conditions still to be satisfied or waived.
Integer develops and manufactures medical devices on a contract basis, serving cardiovascular, neuromodulation and cardiac rhythm management markets, according to its investor materials. In the second quarter of 2026, sales were $464 million, down 2.6% year over year, while organic sales fell 1.5%, according to the company’s results. The quarter’s details showed diverging performance across business units: cardiovascular sales fell 2% to $280 million from the second quarter of 2025. The company partly attributed the performance to the previously disclosed impact of two new electrophysiology products. By contrast, cardiac rhythm management and neuromodulation sales rose 1% to $174 million, with the company saying the impact of a new neuromodulation product partly limited growth.
Sales in other markets totaled $10 million in the second quarter, compared with $18 million in the same period a year earlier. The company said the decline was mainly due to its exit from the portable medical device business. Integer said in its quarterly filing that second-quarter and first-half 2026 sales were also affected by lower-than-expected sales of three new products, due to market adoption below expectations. Gross profit in the second quarter also fell by $16.2 million from the same period a year earlier. The company linked the decline mainly to lower fixed-cost absorption resulting from reduced production volumes.
Regarding the deal, Integer said on September 30 that the expiration of the waiting period under the Hart-Scott-Rodino Act satisfied one condition for completing the acquisition, but did not fulfill the remaining requirements. The company said it still expected the deal to close by the end of 2026, subject to regulatory approvals and customary closing conditions being satisfied or waived. The offered cash price per share exceeds the October 28 close of $126.55, while the deal remains contingent on completion of the specified conditions. The October vote moved the offer toward the closing stage after shareholders approved the related proposals. The end of 2026 remains the company’s announced timeframe for completing the deal.