Medical Device Maker Scooped Up for $1.7 Billion

by | Aug 31, 2015 8:49 am | Medical Devices

Greatbatch, Inc. (NYSE: GB) is touting its “transformative deal” to acquire privately held Lake Region Medical for $1.73 billion. Transformative in that the combined company will be one of the world’s largest medical device manufacturers, serving the cardiac, neuromodulation, vascular, orthopedics and advanced surgical markets and posting revenue of approximately $1.5 billion. The transaction is expected to be double-digit accretive to cash EPS in 2016, the first full fiscal year post-closing, and meaningfully more accretive thereafter. It expects to achieve net annual synergies at the operating profit level of $25 million in 2016, which is expected to increase to at least $60 million in... Read More »