Integer (NYSE:ITGR) announced today that it agreed to be acquired by an affiliate of investment funds managed by KKR for $5.7 billion.
Plano, Texas–based Integer, one of the world’s largest medical device contract development and manufacturing organizations (CDMOs) serving the cardiovascular, neuromodulation, and cardiac rhythm management markets, will have all outstanding shares acquired by a KKR affiliate.
Under the terms of the agreement, Integer stockholders receive $127 per share. That represents a premium of approximately 51.8% of the company’s closing share price on April 29, 2026. That date marks the day before the company announced a strategic review. The price also represents a 28.8% premium to the 30-day VWAP as of July 31, 2026.
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Integer said it considered a range of alternatives to ensure the best course for continued success and maximized stockholder value. It believes the transaction with KKR, expected to close by the end of 2026, represented the best path forward. Integer’s board unanimously approved the agreement, which remains subject to stockholder approval.
KKR plans to make its investment through its core private equity strategy. It intends to finance the deal thorugh a combination of equity and committed debt financing. Upon completion, Integer will become a privately held company.
As a KKR portfolio company, Integer says it expects to have additional flexibility and long-term capital.
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Commentary from Integer and KKR officials
Payman Khales, Integer president and CEO, said:
“This is an exciting milestone for Integer and a testament to the dedication and commitment of our talented team and the exceptional business we have built together. We believe this transaction recognizes the strength of Integer’s business, which includes our dedicated associates, our differentiated engineering and manufacturing capabilities, and our long-term growth opportunities, while providing stockholders with immediate and certain value. KKR’s deep healthcare expertise, long-term vision, and strategic growth orientation make them the right strategic partner to bring our business into its next chapter. Together, we look forward to continuing to invest in our associates and capabilities to deliver excellence for our customers and advance our vision of improving patients’ lives.”
Max Lin, KKR partner, said:
“Integer is an exceptional platform with highly differentiated capabilities across a global manufacturing footprint, a track record for quality and reliability, and a talented team operating in attractive, durable end-markets. We are excited by the opportunity to deploy capital and resources to further advance Integer’s next chapter of growth and innovation. We look forward to partnering with the management team and the 11,000 associates to build on Integer’s position as a trusted strategic partner to leading medical device companies and emerging innovators, helping bring life-saving and life-enhancing technologies to patients around the globe.”
The deal represents yet another private equity move in medtech. Our sibling site MassDevice recounts some of the recent private equity moves in the industry. Also, leading medtech companies discussed the role of private equity in medtech M&A at AdvaMed’s The MedTech Conference in October 2025. Read more about that here.
