Integer Holdings Corporation ( ITGR Quick Quote ITGR - Free Report) recently announced that it has acquired Inomec, thereby strengthening presence in Israel. The buyout is likely to aid Integer Holdings in establishing a research and development (R&D) and sales center in the region, which in turn is likely to boost its R&D pipeline. The acquisition is expected to help the company in extending global foothold in an important market like Israel, which is a key region for medical device innovation. With this deal, Integer Holdings will effectively enable customers to innovate and accelerate new product development. Few Words About Inomec Established in 2008, Inomec specializes in the R&D and manufacturing of medical devices, comprising of minimally invasive tools, delivery systems, metal implants and drug-device combination devices. It also offers with laser processing services. Talking about the company’s capabilities, clinical and pilot manufacturing and bio-compatible 3D printing deserve a mention. How is Integer Holdings Poised to Benefit? The buyout will add the aforementioned capabilities of Inomec to Integer Holdings’ robust and extensive portfolio. Based on the combined capabilities, the company is optimistic about providing consumers enhanced opportunities. The new center in Israel will put Integer Holdings right in the middle of an extensive pipeline of early and late stage startups and multinational MedTech companies based in Israel. The company’s other manufacturing facilities globally will also benefit from the expansion as they will have access to additional R&D capabilities. Recent Acquisition In October 2019, Integer Holdings acquired certain assets of US BioDesign — a company manufacturing complex braided biomedical structures for disposable and implantable medical devices. The buyout is likely to add to Integer Holdings’ already broad and robust product portfolio, thereby reinforcing its position of being a partner of choice for advanced medical technologies. The buyout will not only enable Integer Holdings to better serve customers and patients worldwide but also accelerate growth. Additionally, the acquisition is expected to provide a boost to Cardio and Vascular product line. Market Prospects Per a report by Mordor Intelligence, the global medical devices market is anticipated to see a CAGR of about 7% over the forecast period of 2020-2025. Factors such as growing prevalence of chronic diseases and related rise in disability-adjusted life year, technological advancements in medical devices and continued increase in the aging population are driving this market. Zacks Rank and Price Performance Currently Integer Holdings has a Zacks Rank of 3 (Hold). Shares of the company gained 15.9% on a year-to-date basis compared with the industry’s growth of 5.1%. Meanwhile, the S&P 500 index rallied 4.7% in the same timeframe. Key Picks Some better-ranked stocks from the broader medical space include Patterson Companies, Inc. PDCO, West Pharmaceutical Services, Inc. WST and DENTSPLY SIRONA, Inc. XRAY, each currently carrying a Zacks Rank #2 (Buy). You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
Patterson Companies has an expected long-term earnings growth rate of 6.4%.
West Pharmaceutical has an estimated long-term earnings growth rate of 14%. DENTSPLY SIRONA has a projected long-term earnings growth rate of 11.6%. Biggest Tech Breakthrough in a Generation
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