KKR to Buy Integer Holdings in $5.7 Billion Take-Private Deal
KKR agreed to take medical-device manufacturer Integer Holdings private for $127 a share, capping a board-led strategic review with a premium of roughly 52% to the stock's price before the review began.
KKR agreed to acquire Integer Holdings Corporation (ITGR) in an all-cash transaction valued at approximately $5.7 billion in a deal that would take one of the largest medical device contract manufacturers private.
Under the terms of the agreement, Integer stockholders will receive $127.00 a share, a premium of approximately 51.8% to Integer's closing share price on April 29, 2026, the day before the company announced a strategic review, and 28.8% to the 30-day volume-weighted average price as of July 31, 2026. The transaction carries no financing contingency, with KKR funding the deal through a combination of equity from its managed funds and committed debt financing. It is expected to close by the end of the year, subject to approval by Integer stockholders and required regulatory clearances.
As a portfolio company, Integer will have additional flexibility and long-term capital to invest in capacity, technology, innovation and talent in support of its customers and the patients who rely on its products. "This is an exciting milestone for Integer and a testament to the dedication and commitment of our talented team and the exceptional business we have built together," said Payman Khales, Integer's President and CEO. Max Lin, a Partner at KKR, called Integer "an exceptional platform with highly differentiated capabilities across a global manufacturing footprint" and said the firm looks forward to partnering with the company's roughly 11,000 associates.
Integer is one of the largest medical device contract development and manufacturing organizations in the world, serving the cardio and vascular, neuromodulation, and cardiac rhythm management markets under brands including Greatbatch Medical and Lake Region Medical. The agreement follows a comprehensive, board-led strategic review that Integer launched on April 30, 2026, after which the board determined that the KKR transaction represented the best path to maximize stockholder value. KKR also intends to establish a broad-based employee ownership and engagement program at Integer after closing, consistent with an approach it has applied across more than 90 portfolio companies since 2011.
The deal extends KKR's recent run of healthcare dealmaking, including its $250 million strategic investment in Henry Schein, which closed in May 2025 and gave the firm roughly 12% of that company's shares alongside board representation. It also follows a wave of CDMO and healthcare-services consolidation, including Aya Healthcare's roughly $615 million acquisition of Cross Country Healthcare at a nearly 67% premium in December 2024, underscoring investor appetite for scaled healthcare manufacturing and services platforms even at rich valuations.
Upon completion, Integer will become a privately held company and its common stock will no longer trade on the New York Stock Exchange. Goldman Sachs is serving as Integer's exclusive financial advisor and Davis Polk & Wardwell is its legal counsel; Centerview Partners, Barclays, Citi and Raymond James are advising KKR, with Kirkland & Ellis serving as legal counsel.