Integer Holdings has entered into a definitive agreement to be acquired by KKR in an all-cash transaction valued at approximately $5.7 billion.
Under the agreement, Integer shareholders will receive $127 per share in cash. The purchase price represents a premium of approximately 51.8% to Integer’s closing share price on April 29, 2026, the day before the medical device manufacturer announced a strategic review. It also represents a 28.8% premium to the company’s 30-day volume-weighted average share price as of July 31, 2026.
Integer is one of the world’s largest medical device contract development and manufacturing organizations. The company works with medical device companies across the cardiovascular, cardiac rhythm management, and neuromodulation markets.
The transaction follows a comprehensive strategic review announced by Integer on April 30, 2026. The company’s board, working with management and outside financial and legal advisers, evaluated a range of alternatives intended to maximize shareholder value and position the business for continued growth.
Integer’s board unanimously approved the KKR agreement and is recommending that shareholders vote in favor of the transaction. The acquisition is not subject to a financing contingency.
KKR plans to make the investment through its core private equity strategy. The acquisition will be financed with equity from KKR-managed investment funds and committed debt financing.
Following the transaction, Integer will become a privately held company and its shares will no longer trade on the New York Stock Exchange.
KKR said private ownership will provide Integer with greater flexibility and access to long-term capital for investments in manufacturing capacity, technology, innovation and talent.
The investment firm also intends to establish a broad-based employee ownership and engagement program at Integer after the acquisition closes. KKR said its portfolio companies have awarded billions of dollars in equity value to more than 200,000 non-senior management employees across over 90 companies since 2011.
Integer has approximately 11,000 employees and operates a global manufacturing platform supporting both established medical device companies and emerging healthcare technology developers.
The transaction is expected to close by the end of 2026, subject to approval from Integer shareholders, regulatory clearances and other customary closing conditions.
Integer separately reported its second-quarter 2026 financial results on the same day. Due to the pending acquisition, the company withdrew its previously issued financial outlook and canceled the earnings conference call and webcast scheduled for August 6, 2026.
Support: Goldman Sachs is serving as Integer’s exclusive financial adviser, while Davis Polk & Wardwell is acting as its legal adviser. Centerview Partners, Barclays, Citi and Raymond James are advising KKR. Kirkland & Ellis is serving as KKR’s legal adviser. Citi, KKR Capital Markets, Barclays, UBS and Jefferies are acting as lead arrangers for the debt financing supporting the acquisition.
KEY QUOTES:
“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.”
Payman Khales, President and CEO of Integer
“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.”
Max Lin, Partner at KKR
