Integer Holdings Corp., Plano, Texas, announced that it has finalized the divestiture of its Electrochem business to Ultralife Corp. for $50 million in cash. The sale marks Integer’s transition to a pure-play medical technology company, allowing it to focus exclusively on the development and manufacturing of medical devices.
The proceeds from the transaction will be used to reduce the company’s outstanding debt. Joseph Dziedzic, president and chief executive officer at Integer, emphasized that this move positions the company to allocate resources toward high-growth opportunities within the medical technology sector. He also expressed gratitude to the Electrochem team for their contributions over the years and confidence in their future under Ultralife’s ownership.
The divestiture aligns with Integer’s strategic goal to concentrate on advancing its role as a leading contract development and manufacturing organization for the medical device industry.
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