Benzinga | Oct 28, 2021 08:24AM EDT

Integer Holdings To Acquire Oscor For $220M

* Signed agreement to acquire Oscor, a private medical device company headquartered in Florida. Targeted to close in December 2021, subject to customary closing conditions.

* $220 million purchase price financed with debt. The acquisition structure includes a tax election that is expected to offset cash taxes by approximately $43 million over the next 15 years.

* Serving Integer's current markets, Oscor broadens Integer's product portfolio, expands its R&D capabilities, and adds low-cost manufacturing capacity.

* Oscor recognized $57 million sales in 2020 and historically has achieved high-single digit sales growth.

* Expect accretive EPS in 2022, increasing Integer's EPS growth rate by low-single digit.