Business Context and Reporting Period
Company: Greatbatch, Inc. (Note: Input metadata referenced "Integer Holdings Corp," but the filing text identifies the registrant as Greatbatch, Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: June 29, 2007
Event: Entry into and termination of material definitive agreements regarding supply contracts for implantable medical device components.
Key Financial Metrics
This filing is a current report regarding a contractual agreement and does not contain financial statements. Consequently, specific values for revenue, profit, cash flow, margins, debt, and liquidity are not provided in this document.
Material Changes Versus Prior Period
- New Agreement: On June 29, 2007, Greatbatch Ltd. (a subsidiary) entered into a supply agreement with Cardiac Pacemakers, Inc. (a subsidiary of Boston Scientific Corporation).
- Scope: The agreement covers the purchase of batteries, capacitors, and case halves used in implantable medical devices.
- Terms: Effective July 1, 2007, with an initial term ending December 31, 2010. It includes options for four-year renewal terms.
- Pricing: Prices are subject to adjustment based on cost changes and volume changes for certain items.
- Termination: This agreement replaces prior supply agreements with Guidant/Cardiac Pacemakers Inc. dated April 10, 2003 (batteries) and September 15, 2001 (capacitors), as well as a pricing letter dated January 29, 2007.
Guidance, Outlook, and Risks
- Management Commentary: The filing notes that the Company will seek confidential treatment for portions of the supply agreement under Rule 24b-2.
- Disclosure Timing: The full supply agreement will be filed with the Company's Form 10-Q for the fiscal quarter ended June 29, 2007.
- Risks/Contingencies: No specific risks or contingencies are detailed in this text beyond the standard contractual adjustments for cost and volume.
Important Facts for Investor Verification
- Verify the specific volume commitments and pricing formulas in the full supply agreement once filed in the Form 10-Q.
- Confirm the impact of the transition from Guidant to Boston Scientific Corporation on future revenue streams.
- Monitor the renewal terms and potential for contract extension beyond December 31, 2010.
- Check the upcoming Form 10-Q for the redacted portions of the agreement that were granted confidential treatment.