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Integer Holdings Acquires Inomec, Extends Global Foothold
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Integer Holdings Corporation (ITGR - Free Report) recently announced that it has acquired Inomec, thereby strengthening presence in Israel. The buyout is likely to aid Integer Holdings in establishing a research and development (R&D) and sales center in the region, which in turn is likely to boost its R&D pipeline.
The acquisition is expected to help the company in extending global foothold in an important market like Israel, which is a key region for medical device innovation. With this deal, Integer Holdings will effectively enable customers to innovate and accelerate new product development.
Few Words About Inomec
Established in 2008, Inomec specializes in the R&D and manufacturing of medical devices, comprising of minimally invasive tools, delivery systems, metal implants and drug-device combination devices. It also offers with laser processing services.
Talking about the company’s capabilities, clinical and pilot manufacturing and bio-compatible 3D printing deserve a mention.
How is Integer Holdings Poised to Benefit?
The buyout will add the aforementioned capabilities of Inomec to Integer Holdings’ robust and extensive portfolio. Based on the combined capabilities, the company is optimistic about providing consumers enhanced opportunities.
The new center in Israel will put Integer Holdings right in the middle of an extensive pipeline of early and late stage startups and multinational MedTech companies based in Israel. The company’s other manufacturing facilities globally will also benefit from the expansion as they will have access to additional R&D capabilities.
Recent Acquisition
In October 2019, Integer Holdings acquired certain assets of US BioDesign — a company manufacturing complex braided biomedical structures for disposable and implantable medical devices. The buyout is likely to add to Integer Holdings’ already broad and robust product portfolio, thereby reinforcing its position of being a partner of choice for advanced medical technologies.
The buyout will not only enable Integer Holdings to better serve customers and patients worldwide but also accelerate growth. Additionally, the acquisition is expected to provide a boost to Cardio and Vascular product line.
Market Prospects
Per a report by Mordor Intelligence, the global medical devices market is anticipated to see a CAGR of about 7% over the forecast period of 2020-2025. Factors such as growing prevalence of chronic diseases and related rise in disability-adjusted life year, technological advancements in medical devices and continued increase in the aging population are driving this market.
Zacks Rank and Price Performance
Currently Integer Holdings has a Zacks Rank of 3 (Hold). Shares of the company gained 15.9% on a year-to-date basis compared with the industry’s growth of 5.1%. Meanwhile, the S&P 500 index rallied 4.7% in the same timeframe.
Patterson Companies has an expected long-term earnings growth rate of 6.4%.
West Pharmaceutical has an estimated long-term earnings growth rate of 14%.
DENTSPLY SIRONA has a projected long-term earnings growth rate of 11.6%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Integer Holdings Acquires Inomec, Extends Global Foothold
Integer Holdings Corporation (ITGR - Free Report) recently announced that it has acquired Inomec, thereby strengthening presence in Israel. The buyout is likely to aid Integer Holdings in establishing a research and development (R&D) and sales center in the region, which in turn is likely to boost its R&D pipeline.
The acquisition is expected to help the company in extending global foothold in an important market like Israel, which is a key region for medical device innovation. With this deal, Integer Holdings will effectively enable customers to innovate and accelerate new product development.
Few Words About Inomec
Established in 2008, Inomec specializes in the R&D and manufacturing of medical devices, comprising of minimally invasive tools, delivery systems, metal implants and drug-device combination devices. It also offers with laser processing services.
Talking about the company’s capabilities, clinical and pilot manufacturing and bio-compatible 3D printing deserve a mention.
How is Integer Holdings Poised to Benefit?
The buyout will add the aforementioned capabilities of Inomec to Integer Holdings’ robust and extensive portfolio. Based on the combined capabilities, the company is optimistic about providing consumers enhanced opportunities.
The new center in Israel will put Integer Holdings right in the middle of an extensive pipeline of early and late stage startups and multinational MedTech companies based in Israel. The company’s other manufacturing facilities globally will also benefit from the expansion as they will have access to additional R&D capabilities.
Recent Acquisition
In October 2019, Integer Holdings acquired certain assets of US BioDesign — a company manufacturing complex braided biomedical structures for disposable and implantable medical devices. The buyout is likely to add to Integer Holdings’ already broad and robust product portfolio, thereby reinforcing its position of being a partner of choice for advanced medical technologies.
The buyout will not only enable Integer Holdings to better serve customers and patients worldwide but also accelerate growth. Additionally, the acquisition is expected to provide a boost to Cardio and Vascular product line.
Market Prospects
Per a report by Mordor Intelligence, the global medical devices market is anticipated to see a CAGR of about 7% over the forecast period of 2020-2025. Factors such as growing prevalence of chronic diseases and related rise in disability-adjusted life year, technological advancements in medical devices and continued increase in the aging population are driving this market.
Zacks Rank and Price Performance
Currently Integer Holdings has a Zacks Rank of 3 (Hold). Shares of the company gained 15.9% on a year-to-date basis compared with the industry’s growth of 5.1%. Meanwhile, the S&P 500 index rallied 4.7% in the same timeframe.
Key Picks
Some better-ranked stocks from the broader medical space include Patterson Companies, Inc. (PDCO - Free Report) , West Pharmaceutical Services, Inc. (WST - Free Report) and DENTSPLY SIRONA, Inc. (XRAY - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Patterson Companies has an expected long-term earnings growth rate of 6.4%.
West Pharmaceutical has an estimated long-term earnings growth rate of 14%.
DENTSPLY SIRONA has a projected long-term earnings growth rate of 11.6%.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>