By Omar Ford

Integer Holdings pulled a flex move this week. Not only did the company beat expectations for its 3Q21 earnings, but it also announced it was acquiring Oscor for US$220 million.

The deal, which is being financed by debt, is set to close in December.

Palm Harbor, FL-based Oscor develops devices including catheters, introducer kits, fixed-curve guide sheaths and steerable guide sheaths used to facilitate vascular access for interventional cardiology, radiology, vascular surgery, oncology, and peripheral needs.

“We’re excited to welcome Oscor’s approximately 900 associates to Integer, who will bring a trusted brand with 40 years of medical device development and manufacturing combined with a complementary product offering and extensive intellectual property portfolio,”  Integer’s president and CEO Joseph Dziedzic, said in a statement. “We expect the acquisition to be accretive to EPS in 2022. We also completed our debt refinancing during the third quarter, which is expected to generate an increase of $0.15 to EPS on an annualized basis.”

Integer had quarterly earnings of US$1.05 a share beating analysts’ estimates of .96 cents per share. The company’s sales increased 30 per cent to US$306 million when compared to 3Q20.

Cardiac and Neuromodulation saw the greatest growth. Sales for the segments increased 46 per cent with a very strong year-over-year sales increase across all markets driven by customer demand. Sales in both the cardiac rhythm management and neuromodulation markets increased high double-digits.

“Integer delivered strong year over year financial results in the third quarter and continued to aggressively execute our growth strategy,”Dziedzic said in a release.