Greatbatch (NYSE:GB) said it closed the $1.73 billion, cash-and-stock acquisition of OEM medical device maker Lake Region Medical Oct. 27. Frisco, Texas-based Greatbatch laid out $478 million in cash and some 5.1 million shares of stock (which closed Oct. 27 at $49.27 per share, making that portion of the offer worth another $251 million). Greatbatch said it also agreed to […]
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Baxter adds Boston Scientific CEO Mahoney to board | Personnel Moves
Baxter (NYSE:BAX) said today that it named Boston Scientific (NYSE:BSX) CEO Mike Mahoney to its board of directors. Mahoney, who engineered a significant turnaround at Boston Scientific, was tapped to serve on Baxter’s governance and compensation committees. “Mike’s significant knowledge of the global medical products business and his track record of leadership will make a significant contribution […]
Greatbatch to buy out Lake Region Medical for $1.7B
Greatbatch (NYSE:GB) said today that it closed the $1.7 billion cash-and-stock acquisition of Lake Region Medical. Terms call for Frisco, Texas-based Greatbatch to pay $478 million in cash and some 5.1 million shares of stock (which closed yesterday at $49.89 per share, making that portion of the offer worth another $254.4 million). Greatbatch said it also agreed […]
Greatbatch inks deal with WiTricity for wireless med device charging
Greatbatch (NYSE:GB) said today it inked a deal with wireless charging company WiTricty to supply its wireless charging technology to Greatbatch. Through the agreement, Frisco, Texas-based Greatbatch will commercialize the wireless charging systems for medical devices of its own, as well as systems for OEM manufacturers. “Using WiTricity technology, Greatbatch is creating an accelerated path to […]
Greatbatch Q2 earnings release lifts shares
Greatbatch (NYSE:GB) shares climbed with the announcement of its Q2 results, growing from last year but narrowly missing analysts expectations The Frisco, Texas-based company reported profits of $9.2 million, or 35¢ per share, on sales of $174.9 million for the 3 months ended July 3. That amounts to a 24.8% bottom-line loss on sales growth of 1.6% […]
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Greatbatch acquires Uruguay’s CCC Medical Devices
Greatbatch (NYSE:GB) said today that it paid an unspecified amount to acquire a Uruguayan medical device company.
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Layoffs ahead as Greatbatch transfers production to Mexico, Massachusetts
Greatbatch (NYSE:GB) said today that it’s planning to shuffle its manufacturing operation, moving some production from Minnesota, Oregon and Massachusetts to plants in Tijuana, Mexico.