KKR to Acquire Integer Holdings for $5.7 Billion

KKR has agreed to acquire Integer Holdings, a medical device contract manufacturer, in an all-cash deal valued at approximately $5.7 billion, paying $127 per share, a 4.78% premium to Integer's prior closing price . The transaction would take Integer private and expand KKR's footprint in medical device outsourcing, a sector serving many of the world's largest device makers in cardiac, pain-management and other specialties.

The deal was announced alongside Integer's second-quarter 2026 results, which came in mixed: revenue of $464 million topped the roughly $461 million analyst estimate but was actually down 2.6% year-over-year from $476.5 million a year earlier, with organic sales declining 1.5%. Adjusted EPS of $1.60 beat the $1.51 consensus. Given the pending acquisition, Integer withdrew its previously issued 2026 financial outlook and canceled its scheduled earnings call.

For KKR, which held about $796 billion in assets under management at the end of the second quarter, the deal ranks among its largest healthcare transactions since the $9.9 billion take-private of Envision Healthcare in 2018 . The acquisition is expected to close by the end of the year, subject to customary regulatory approvals .

Investors should watch two threads: whether Integer's organic sales decline is a one-off or a sign of softening demand that KKR is buying through anyway at a premium, and how the deal's financing and integration compare with KKR's other recent healthcare bets. KKR and ITGR shares, the latter trading toward the $127 deal price ahead of close, will be the near-term signals to track.

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