<p>激进投资者 <strong>Irenic Capital Management</strong> 据报道已在 <strong>Integer Holdings Corporation</strong> (NYSE: ITGR) 中持有超过 3% 的股份。它正在施压这家医疗设备外包公司更新董事会并评估战略选择，包括潜在的出售。</p>
<p>Irenic 现在是 Integer 的主要股东之一，本周早些时候向公司董事会发送了一封私人信函，概述了其关切和建议。</p>
<p>《华尔街日报》指出 投资者认为公司的股票被低估，董事会层面的变动可能有助于释放价值。</p>
<p><strong><em>另请阅读: 特朗普政府审查针对医疗供应链脆弱性的调查</em></strong></p>
<h2>缺乏同行</h2>
<p>Irenic 论点的核心是 Integer 缺乏明确的、公开交易的纯粹同行，这限制了投资者的理解和分析师的覆盖。</p>
<p>因此，激进投资者认为市场在正确评估公司的盈利能力和长期前景方面存在困难。</p>
<p>Irenic 还认为，作为一家私营公司，Integer 可能更具吸引力。</p>
<p>由于与客户的保密义务，公共市场投资者更难全面承保其产品管道，《华尔街日报》报道援引知情人士的话说。</p>
<p>Integer 与医疗设备公司合作，设计、开发和制造关键组件，涵盖多个终端市场，包括心脏节律管理、神经调节以及心血管应用。</p>
<p>该业务在向设备制造商提供复杂组件方面发挥着关键作用，但报告补充说，这部分工作对投资者仍然不透明。</p>
<p>根据 Benzinga Pro 的数据，Integer 的股票年初至今已下跌约 44%。</p>
<p>Irenic 已告知董事会，它认为潜在买家，包括私募股权公司，将对以大幅溢价于当前股价的方式进行收购表现出显著兴趣。更广泛的背景可能支持这一观点。</p>
<p>《华尔街日报》补充说，医疗设备合同开发和制造行业近年来交易活跃，交易通常以比 Integer 当前估值所暗示的更高的盈利和收入倍数进行。</p>
<h2>最近的交易</h2>
<p>12 月初，<strong>Teleflex Incorporated</strong> (NYSE: TFX) 同意将其急救、介入泌尿学和 OEM 业务出售给两家买家，急救和介入泌尿学业务出售给 Intersurgical Ltd，OEM 业务出售给 Montagu 和 Kohlberg，交易金额为 20.3 亿美元。</p>
<p>11 月，美国伊利诺伊州北区地方法院拒绝了美国联邦贸易委员会和某些州监管机构的请求，要求 发布初步禁令，以阻止 <strong>Surmodics Inc</strong> (NASDAQ: SRDX) 被 GTCR 收购。</p>
<p>2024 年 5 月，私募股权公司 <strong>GTCR</strong> 同意以约 6.27 亿美元收购医疗设备涂层公司 Surmodics，每股 43 美元。</p>
<p>Integer 报告了第三季度 调整后的每股收益为 1.79 美元，超出 1.68 美元的共识，销售额增长 8% 至 4.6769 亿美元，超出 466.45 万美元的共识。</p>
<p><strong>ITGR 价格动态：</strong> 在周四发布时，Integer Holdings 的股票上涨 5.68%，报 78.34 美元，根据 Benzinga Pro 数据。</p>
<p><strong>下一步阅读：</strong></p>
<ul>
<li><strong><em>Elliott Management 在 Lululemon 中持有 10 亿美元股份，提名前 Ralph Lauren 高管担任新 CEO: 报道</em></strong></li>
</ul>
<p><em>图片来源于 Shutterstock</em></p>

Integer控股

<p>激进投资者 Irenic Capital Management 持有 Integer Holdings 超过 3% 的股份，敦促公司更新董事会并考虑出售，理由是公司被低估且前景有限。Irenic 认为，由于影响公开市场评估的保密问题，Integer 作为一家私营公司可能更具价值。Integer 的股价今年迄今已下跌 44%，但 Irenic 认为可能会有以溢价收购的兴趣。医疗器械行业的交易活动活跃，支持了 Irenic 的观点</p>

<p>Activist investor <strong>Irenic Capital Management</strong> has reportedly taken a more than 3% stake in <strong>Integer Holdings</strong> <strong>Corporation</strong> (NYSE: ITGR). It is pressing the medical-device outsourcing company to refresh its board and evaluate strategic alternatives, including a potential sale.</p>
<div class="lb-trans"><p>激进投资者 <strong>Irenic Capital Management</strong> 据报道已在 <strong>Integer Holdings Corporation</strong> (NYSE: ITGR) 中持有超过 3% 的股份。它正在施压这家医疗设备外包公司更新董事会并评估战略选择，包括潜在的出售。</p>
</div><p>Irenic, now among Integer's largest shareholders, sent a private letter to the company's board earlier this week outlining its concerns and recommendations.</p>
<div class="lb-trans"><p>Irenic 现在是 Integer 的主要股东之一，本周早些时候向公司董事会发送了一封私人信函，概述了其关切和建议。</p>
</div><p>The Wall Street Journal noted that the investor believes the company's shares are undervalued and that changes at the board level could help unlock value.</p>
<div class="lb-trans"><p>《华尔街日报》指出 投资者认为公司的股票被低估，董事会层面的变动可能有助于释放价值。</p>
</div><p><strong><em>Also Read: Trump Administration Review Targets Medical Supply Chain Vulnerabilities</em></strong></p>
<div class="lb-trans"><p><strong><em>另请阅读: 特朗普政府审查针对医疗供应链脆弱性的调查</em></strong></p>
</div><h2>Lack Of Peers</h2>
<div class="lb-trans"><h2>缺乏同行</h2>
</div><p>A central part of Irenic's argument is that Integer lacks clear, publicly traded pure-play peers, which has limited investor understanding and analyst coverage.</p>
<div class="lb-trans"><p>Irenic 论点的核心是 Integer 缺乏明确的、公开交易的纯粹同行，这限制了投资者的理解和分析师的覆盖。</p>
</div><p>As a result, the activist contends the market has struggled to assess the company's earnings power and long-term prospects properly.</p>
<div class="lb-trans"><p>因此，激进投资者认为市场在正确评估公司的盈利能力和长期前景方面存在困难。</p>
</div><p>Irenic also believes Integer may be more appealing as a private company.</p>
<div class="lb-trans"><p>Irenic 还认为，作为一家私营公司，Integer 可能更具吸引力。</p>
</div><p>Due to confidentiality obligations with customers, it is harder for public-market investors to underwrite its pipeline fully, the Wall Street Journal reported, citing people familiar with the matter.</p>
<div class="lb-trans"><p>由于与客户的保密义务，公共市场投资者更难全面承保其产品管道，《华尔街日报》报道援引知情人士的话说。</p>
</div><p>Integer partners with medical-device companies to design, develop, and manufacture critical components across several end markets, including cardiac rhythm management, neuromodulation, and cardio and vascular applications.</p>
<div class="lb-trans"><p>Integer 与医疗设备公司合作，设计、开发和制造关键组件，涵盖多个终端市场，包括心脏节律管理、神经调节以及心血管应用。</p>
</div><p>The business plays a key role in supplying complex components to device makers, but much of that work remains opaque to investors, the report added.</p>
<div class="lb-trans"><p>该业务在向设备制造商提供复杂组件方面发挥着关键作用，但报告补充说，这部分工作对投资者仍然不透明。</p>
</div><p>Integer's shares have declined around 44% year to date, as per data from Benzinga Pro.</p>
<div class="lb-trans"><p>根据 Benzinga Pro 的数据，Integer 的股票年初至今已下跌约 44%。</p>
</div><p>Irenic has told the board it believes there would be meaningful takeover interest from potential buyers, including private-equity firms, at a substantial premium to the current share price. The broader context may support that view.</p>
<div class="lb-trans"><p>Irenic 已告知董事会，它认为潜在买家，包括私募股权公司，将对以大幅溢价于当前股价的方式进行收购表现出显著兴趣。更广泛的背景可能支持这一观点。</p>
</div><p>The Wall Street Journal added that the medical-device contract development and manufacturing sector has seen robust deal activity in recent years, with transactions often commanding higher earnings and revenue multiples than those implied by Integer's current valuation.</p>
<div class="lb-trans"><p>《华尔街日报》补充说，医疗设备合同开发和制造行业近年来交易活跃，交易通常以比 Integer 当前估值所暗示的更高的盈利和收入倍数进行。</p>
</div><h2>Recent Deals</h2>
<div class="lb-trans"><h2>最近的交易</h2>
</div><p>Earlier in December, <strong>Teleflex Incorporated</strong> (NYSE: TFX) agreed to sell its Acute Care, Interventional Urology, and OEM businesses to two buyers, Intersurgical Ltd with respect to Acute Care and Interventional Urology, and Montagu and Kohlberg with respect to OEM, for $2.03 billion.</p>
<div class="lb-trans"><p>12 月初，<strong>Teleflex Incorporated</strong> (NYSE: TFX) 同意将其急救、介入泌尿学和 OEM 业务出售给两家买家，急救和介入泌尿学业务出售给 Intersurgical Ltd，OEM 业务出售给 Montagu 和 Kohlberg，交易金额为 20.3 亿美元。</p>
</div><p>In November, the United States District Court for the Northern District of Illinois denied a request by the U.S. Federal Trade Commission and certain state regulators to issue a preliminary injunction that would have prevented the proposed acquisition of <strong>Surmodics Inc</strong>. (NASDAQ: SRDX) by GTCR.</p>
<div class="lb-trans"><p>11 月，美国伊利诺伊州北区地方法院拒绝了美国联邦贸易委员会和某些州监管机构的请求，要求 发布初步禁令，以阻止 <strong>Surmodics Inc</strong> (NASDAQ: SRDX) 被 GTCR 收购。</p>
</div><p>In May 2024, private equity firm <strong>GTCR</strong> agreed to acquire medical device coating company Surmodics for approximately $627 million, or $43 per share.</p>
<div class="lb-trans"><p>2024 年 5 月，私募股权公司 <strong>GTCR</strong> 同意以约 6.27 亿美元收购医疗设备涂层公司 Surmodics，每股 43 美元。</p>
</div><p>Integer had reported third-quarter adjusted earnings of $1.79 per share, beating the consensus of $1.68, with sales up 8% to $467.69 million, beating the consensus of $466.45 million.</p>
<div class="lb-trans"><p>Integer 报告了第三季度 调整后的每股收益为 1.79 美元，超出 1.68 美元的共识，销售额增长 8% 至 4.6769 亿美元，超出 466.45 万美元的共识。</p>
</div><p><strong>ITGR Price Action:</strong> Integer Holdings shares were up 5.68% at $78.34 at the time of publication on Thursday, according to Benzinga Pro data.</p>
<div class="lb-trans"><p><strong>ITGR 价格动态：</strong> 在周四发布时，Integer Holdings 的股票上涨 5.68%，报 78.34 美元，根据 Benzinga Pro 数据。</p>
</div><p><strong>Read Next:</strong></p>
<div class="lb-trans"><p><strong>下一步阅读：</strong></p>
</div><ul>
<li><strong><em>Elliott Management Takes $1 Billion Stake In Lululemon, Proposes Former Ralph Lauren Executive As New CEO: Report</em></strong></li>
</ul>
<div class="lb-trans"><ul>
<li><strong><em>Elliott Management 在 Lululemon 中持有 10 亿美元股份，提名前 Ralph Lauren 高管担任新 CEO: 报道</em></strong></li>
</ul>
</div><p><em>Photo via Shutterstock</em></p>
<div class="lb-trans"><p><em>图片来源于 Shutterstock</em></p>
</div>

激进投资者敦促进行战略审查，认为医疗技术公司 Integer 作为私人公司可能更有价值