Greatbatch subsidiary acquires medical battery maker Micro Power
This article was originally published in Clinica
Executive Summary
Electrochem Solutions, a subsidiary of implantable medical devices firm Greatbatch, has agreed to acquire a fellow custom battery specialist Micro Power Electronics for around $60m. Micro Power serves the medical market as well as the military and handheld automatic identification and data collection segments, complementing Electrochem's portfolio which covers the medical, energy, military and environmental sectors. Clarence, New York-based Electrochem believes the deal, due to close by the end of the year, will expand its presence in the portable medical market, and improve its R&D efforts. The firm plans to retain Micro Power's Beaverton, Oregon facility, and anticipates "minimal impact" to the 200 employees there. It expects Micro Power to generatearound $70m in revenue for 2011. The acquisition should be neutral to Greatbatch's earnings for 2011 and 2012, and accretive thereafter.