Integer Holdings (NYSE:ITGR) today announced it has acquired medtech manufacturer Inomec, formally establishing its presence in Israel.
The Plano, Texas-based company said the acquisition will enable it to create an R&D and sales center in the region and adds important catheter design, clinical and pilot manufacturing capabilities to its portfolio.
“Acquiring Inomec strengthens our research and development pipeline by adding differentiated capabilities and expanding our global footprint in a key market with an extensive innovation ecosystem that is widely recognized as a leader in medtech innovation,” said Integer president and CEO Joe Dziedzic in a news release.
Founded in 2008, Inomec (Netanya) specializes in the research, development and manufacturing of medical devices, including minimally invasive tools, delivery systems, metal implants, drug-device combinations and also offers laser-processing services. Capabilities include clinical and pilot manufacturing, cleanroom assembly and packaging services, polymer and metallic laser welding and bio-compatible 3D printing.
Integer already has locations in Plymouth and Chaska, Minn., Clarence, N.Y., Beaverton, Ore., Raynham, Mass., Montevideo, Uruguay, and Galway, Ireland. This Netanya location will give the company access to early- and late-stage startups as well as multinational medtech companies located in Israel, while providing added R&D capabilities to feed Integer’s other manufacturing facilities globally, according to the company.
“Expanding our capabilities closer to our customers in Israel, an important region for medical device innovation, will allow us to more effectively enable our customers’ innovation processes and accelerate new product development,” said Payman Khales, president of Integer’s Cardio & Vascular business.
“Integer’s leadership as a medical device outsource manufacturer is unmatched and we look forward to providing our customers increased opportunities with our combined capabilities,” added Inomec founder and CEO Sefi Shachrur.
