Greatbatch Acquiring Lake Region Medical

Greatbatch entered into a definitive agreement to acquire Lake Region Medical for ~US $1.73BB in cash and stock, creating a global supplier serving a range of medical device markets, including arthroscopy and orthopaedics. The transaction, expected to close in 4Q15, will yield a combined company of >9,000 employees with revenue of ~$1.5BB (includes non-orthopaedic), to be lead by current Greatbatch President and CEO, Thomas J. Hook.

Lake Region Medical was acquired by Accellent in 1Q14, supporting Accellent’s intent to grow its Cardio & Vascular business segment. The combined business continued as Lake Region, offering outsourced manufacturing and engineering services, contract manufacturing, finished device assembly, original device development and supply chain management services.

For 2014, Greatbatch reported orthopaedic revenue of $147.2MM, a 13% increase vs. 2013. ORTHOWORLD estimates Lake Region’s overall 2014 revenue at ~$812MM (including non-orthopaedic revenue). The acquisition of Lake Region, expected to close in 4Q15, will yield a combined company of >9,000 employees with overall revenue of ~$1.5BB.

Source: Greatbatch

 

 

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