Business Context and Reporting Period
This Form 8-K is filed by Greatbatch, Inc. (not Integer Holdings Corp) on January 5, 2011. The report discloses a material event regarding the divestiture of a minority investment in IntElect Medical, Inc.
Key Financial Metrics
- Cash Proceeds: Approximately $10 million expected from the sale.
- Pre-tax Gain: Approximately $4.7 million to be recognized in the first quarter of 2011.
- Other Metrics: The filing does not provide data on revenue, operating profit, cash flow, margins, debt, or liquidity for the reporting period.
Material Changes
The primary material change is the sale of Greatbatch's minority stake in IntElect Medical, Inc., executed in conjunction with Boston Scientific Corp.'s acquisition of IntElect. This stake was originally acquired through the 2007 purchase of BIOMEC, Inc., followed by two additional investments.
Outlook and Management Commentary
Management expects to recognize the $4.7 million pre-tax gain in the first quarter of 2011. The filing does not contain forward-looking guidance, risk factors, or discussion of contingencies beyond this specific transaction.
Investor Verification Points
- Confirm the final closing date and actual cash proceeds received from the IntElect sale.
- Verify the exact amount of the pre-tax gain recognized in the Q1 2011 financial statements.
- Review the impact of this one-time gain on the company's reported earnings per share for the quarter.