Greatbatch Acquires Lake Region Medical, Partners With WiTricity
Frisco, Texas, devicemaker Greatbatch is expanding its global reach via an agreement to acquire Lake Region Medical for approximately $1.73 billion in cash and stock.
A developer of critical medical technologies for the cardiac, neuromodulation, vascular and orthopedic markets, Greatbatch will now have access to Lake Region Medical's advanced surgical, vascular and interventional cardiology offerings.
Once the deal closes, the combined company will have global revenues of about $1.5 billion, Greatbatch said Thursday.
Also last week, Greatbatch said it has licensed rights to commercialize Watertown, Mass.-based WiTricity’s wireless charging technology for medical devices applications. The deal expands a collaboration between the companies that began in 2012. —Michael Cipriano