Integer (NYSE:ITGR) shareholders have overwhelmingly approved a $5.7 billion acquisition by an affiliate of KKR-managed investment funds.
Yesterday’s vote was 26,065,335 for, 10,513 against, and 1,993 abstaining, according to a Form 8-K filed with the SEC. The company first announced the proposed deal in August.
Plano, Texas–based Integer is one of the world’s largest medical device contract development and manufacturing organizations (CDMOs) serving the cardiovascular, neuromodulation, and cardiac rhythm management markets.
Integer officials expect to close the acquisition by the end of 2026, subject to customary closing conditions, including required regulatory approvals.
Company officials have said being a privately held KKR portfolio company will enable Integer to have additional flexibility and long-term capital.
Private equity has been active in the medical device contract manufacturing space for years, but it has increasingly become interested in medtech OEMs, too. Over the summer, GTCR announced a deal for its Corza Medical business to sell its Biosurgery unit, while Resmed agreed to sell its MatrixCare software business to private equity.
Hologic was the most significant name to make a move with private equity of late, inking an $18.3 billion go-private deal earlier this year.
Read more: Private equity’s on the hunt for big profits in medtech
