Greatbatch’s acquisition of Precimed was structured as a
stock purchase. In exchange for
the outstanding shares of Precimed, Greatbatch paid
approximately CHF 123,000,000 in cash
and, under terms of the purchase agreement, will pay an
additional earnings-based contingent cash payment of up
to CHF 12,000,000 in 2009. The purchase price was funded
with cash on
hand and availability under Greatbatch’s revolving
credit agreement. In connection with the
transaction, Greatbatch acquired Precimed’s rights and
obligations under an agreement to acquire
the operations of another company in the orthopedic
industry, which is expected to close in early
2008.
Precimed is located in Orvin, Switzerland & Exton, PA,
with manufacturing operations
throughout Switzerland and Indiana and sales offices in
Japan, Asia and the United Kingdom. Its products,
including instrumentation for hip and knee replacement,
trauma and spine, are sold
worldwide to leading orthopedic customers.
About Greatbatch, Inc.
Greatbatch, Inc. (NYSE: GB) is a leading developer and
manufacturer of critical components
used in medical devices for the cardiac rhythm
management, neurostimulation, vascular,
orthopedic and interventional radiology markets.
Additionally, Electrochem Commercial Power,
a subsidiary of Greatbatch, is a world leader in the
design and manufacture of electrochemical
cells, battery packs and wireless sensors for demanding
applications such as oil and gas exploration, pipeline
inspection, military, asset tracking, oceanography,
external medical and seismic surveying. Additional
information about the Company is available at
www.greatbatch.com.
Contact Information
Anthony W. Borowicz
Treasurer and Director, Investor Relations
(716) 759-5809
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