Greatbatch announced on Aug. 27 that it agreed to acquire Lake Region Medical for approximately $1.73 billion. The deal, which has been unanimously approved by both companies’ boards of directors, is expected to close by the fourth quarter of 2015 pending regulatory reviews and other closing conditions.
The combined company will create one of the largest medical device original equipment manufacturer suppliers serving the cardiac market and other markets with more than $1.5 billion in revenue.
The transaction will increase Greatbatch’s adjusted cash earnings per share by at least 10 percent next year, according to the company. Greatbatch said the deal would offer customers a more comprehensive portfolio of products in the cardiac rhythm management, neuromodulation, vascular, orthopedics and advanced surgical markets.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.