CLARENCE, N.Y.--(BUSINESS WIRE)--Dec. 15, 2011--
Electrochem Solutions, Inc., a subsidiary of Greatbatch, Inc. (NYSE:GB),
today announced that it has successfully completed its previously
announced acquisition of Micro Power Electronics. In connection with
this transaction, Electrochem paid $60 million in cash and assumed debt
and certain transaction-related payments and expenses. Greatbatch
financed this acquisition with cash on hand and borrowed $45 million
under its revolving credit facility.
Micro Power, headquartered in Beaverton, Oregon, is a leading supplier
of custom battery solutions, serving the portable medical market as well
as military and handheld automatic identification and data collection
(AIDC) markets. As a pioneer in the development of Lithium battery
systems, smart battery packs, chargers, docking stations, and power
supplies, Micro Power has more than 25 years of experience developing
battery solutions. Micro Power is ISO 13485 and 9001:2008 certified.
About Electrochem and Greatbatch, Inc.
Electrochem, founded in 1979, is a world leader in the design and
manufacture of custom battery and wireless sensing technology solutions.
A subsidiary of Greatbatch, Inc., Electrochem was born from the lithium
battery invented for the implantable pacemaker by Wilson Greatbatch.
Today, Electrochem is known for its reliable products which are used
across a range of applications in the portable medical, energy,
military, aerospace, environmental and process control industries. For
more information, visit www.electrochemsolutions.com.
Greatbatch, Inc. (NYSE: GB) provides top-quality technologies to
industries that depend on reliable, long-lasting performance through its
brands -- Greatbatch Medical, Electrochem and QiG Group. Greatbatch
Medical develops and manufactures critical medical device technologies
for the cardiac, neurology, vascular and orthopaedic markets.
Electrochem designs and manufactures battery and wireless sensing
technologies for high-end niche applications in the energy, military,
portable medical, and other markets. The QiG Group empowers the design
and development of new medical devices for the company’s core markets.
For more information, visit www.greatbatch.com.
Source: Electrochem Solutions, Inc.
For Electrochem Solutions
Media:
Christopher
Knospe, 716-759-5727 (office)
cknospe@greatbatch.com
or
Investor
Relations:
Marco Benedetti, 716-759-5856
Corporate
Controller & Treasurer
mbenedetti@greatbatch.com