Integer Holdings Corp., a Texas-based medical device outsource manufacturer, has finalized a deal to acquire Pulse Technologies, a privately-held contract manufacturing company, for approximately $140 million.
Pulse Technologies, founded in 1993 and based out of Pennsylvania, specializes in the materials and coatings used to develop and manufacture medical devices. The company also has experience in the aerospace and defense industries, but Integer was especially interested in its ability to serve healthcare markets such as structural heart disease, electrophysiology, leadless pacing and neuromodulation. Its estimated 2023 sales were approximately $42 million.
Integer shared news of the acquisition while announcing preliminary financial data from its fourth quarter. The company’s estimated 2023 sales were nearly $1.6 billion, up 16% compared to 2022.
“The acquisition of Pulse Technologies is directly aligned with Integer’s strategy to expand our capabilities and capacity in targeted growth markets,” Payman Khales, Integer’s president of the cardio and vascular divisions, said in a prepared statement. “We were immediately impressed with Pulse Technologies’ long-standing customer relationships, technical talent, unique technologies, shared values, and capacity for growth. The company shares Integer’s commitment to quality, innovation and enhancing the lives of patients, and we are thrilled to welcome their 250 associates to the Integer team.”
“Our founders Bob Walsh and Frank Henofer started Pulse Technologies over 31 years ago with a focus on implantable medical components and assemblies serving high growth sectors of the market,” Joe Rosata, owner, president and CEO of Pulse Technologies, said in the same statement. “With years of prudent investments in R&D and advanced technology, we have been successful servicing the world’s largest MedTech OEMs. The acquisition by Integer, with their global scale and best-in-class capabilities, will accelerate our growth opportunities and will further enhance our value proposition to our most valued customers.”
Integer’s acquisition of Pulse Technologies is already final. There is room for the purchase price to increase over the next two years based on certain revenue growth targets.
Michael has more than 16 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.