By Integer Holdings, a leading medical device maker, has announced the successful completion of its acquisition of Pulse Technologies. The transaction, valued at approximately $140 million, was finalized last week and was financed through borrowings under Integer’s existing revolving credit facility.
Pulse Technologies, based in Quakertown, Pa., is a prominent contract manufacturing company specializing in advanced technologies and complex micro-machining of medical device components. Integer’s acquisition of Pulse is expected to enhance its end-to-end development capabilities and expand its manufacturing footprint in targeted growth markets.
With estimated sales of about $42 million projected for 2023, Pulse also has an estimated adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $11 million for the year. Integer anticipates that Pulse’s sales growth and adjusted EBITDA margin will contribute positively to its overall performance.
While the purchase price amounts to $140 million, Integer foresees a net-present-value tax benefit of $15 million over the course of approximately 15 years. Additionally, there may be additional consideration paid based on the achievement of specific revenue growth targets until 2025.
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