Integer Holdings Corporation (NYSE: ITGR) has announced the appointment of James Flanagan and Aaron Kapito as new independent directors to its board. Flanagan, the former Chief Operating Officer of PwC, and Kapito, a partner at Politan Capital Management LP, bring considerable financial and governance expertise to Integer's board. The company is set to benefit from their complementary perspectives and skillsets as it continues to oversee the execution of its strategic priorities.
Integer's President and CEO, Payman Khales, highlighted the company's focus on delivering long-term value for its shareholders. Integer aims to return to market-level organic sales growth in 2026 and surpass market levels in 2027. This commitment to growth is further reinforced by the company's strong pipeline of innovative products and its positioning as a partner of choice to leading medical device companies and emerging innovators.
The company's strategic direction is supported by a cooperation agreement with Irenic Capital Management, LP, which has led to the appointment of Flanagan and Kapito to the board. Irenic's Co-Founder and Chief Investment Officer, Adam Katz, expressed confidence in Integer's ability to capitalize on attractive growth opportunities in key markets and leverage its strong industry relationships.
In line with Integer's board succession process, two existing directors will not stand for re-election at the company's annual stockholder meeting. Additionally, as part of the cooperation agreement between Irenic and Integer, Irenic has agreed to customary standstill, voting, confidentiality, and other provisions.
Goldman Sachs & Co. LLC is serving as financial advisor to Integer, while Davis Polk & Wardwell LLP is serving as legal counsel. Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Integer. Willkie Farr & Gallagher LLP is serving as legal counsel, and Longacre Square Partners is serving as strategy and communications advisor to Irenic.
Integer Holdings Corporation, a leading global medical device contract development and manufacturing organization, aims to drive sustainable, long-term value creation with the appointment of new independent directors and its focus on executing its growth strategy.
As Integer advances its strategy, shareholders can look forward to the company's strong industry relationships and commitment to innovation translating into long-term value creation. As a result of these announcements, the company's shares have moved 0.59% on the market, and are now trading at a price of $85.78. If you want to know more, read the company's complete 8-K report here.
