Integer Q3 Sales Fall 3.9% to $450 Million: KKR Affiliate Takeover Approved by Stockholders, Closing Expected by End of 2026
Integer Holdings Corporation (NYSE: ITGR), a medical device contract development and manufacturing organization headquartered in Plano, Texas, reported results on October 29 for the quarter ended October 2, 2026: sales were $449.7 million, down 3.9% year over year, with organic sales down 2.2%.
GAAP operating income was $28.2 million, down 50%; adjusted operating income was $66.3 million, down 23%. GAAP income from continuing operations was $15.0 million, or $0.43 per diluted share; adjusted net income was $46.1 million, or $1.34 per share; and adjusted EBITDA was $87.9 million, down 17%. Total debt rose $34 million from the end of 2025 to $1.219 billion, for a leverage ratio of 3.3 times adjusted EBITDA as of October 2.
By product line, Cardio and Vascular sales fell 5% to $263.1 million, reflecting the previously communicated impact from two new electrophysiology products; Cardiac Rhythm Management and Neuromodulation sales rose 4% to $175.8 million; and Other Markets sales were $10.8 million, down from $21.4 million a year earlier, mainly due to the Portable Medical exit.
The company also updated its pending acquisition by an affiliate of investment funds managed by KKR under a merger agreement dated August 2, 2026: early termination of the Hart-Scott-Rodino waiting period was received on September 29, and stockholders approved adoption of the merger agreement on October 21. The transaction is expected to close by the end of 2026, subject to remaining customary closing conditions, including required regulatory approvals. Because of the pending deal, Integer is not providing a financial outlook and will not host an earnings call.
Integer is one of the world's largest medical device CDMOs, serving the cardio and vascular, neuromodulation and cardiac rhythm management markets, with brands including Greatbatch Medical and Lake Region Medical.
Source: GSM · USA (original Chinese edition)
Photo: 图：人工心脏起搏器实物（资料图，Integer 产品线涵盖心脏节律管理器械）。Steven Fruitsmaak 摄，CC BY 3.0，经 Wikimedia Commons。Photo: An artificial pacemaker (file photo). Steven Fruitsmaak, CC BY 3.0, via Wikimedia Commons.
