Greatbatch Announces Completion of Nuvectra Spin-Off
March 14 2016 - 09:25AM
Greatbatch, Inc. (NYSE:GB) today announced that it has successfully
completed the spin-off of its subsidiary, QiG Group, LLC, which
converted to Nuvectra Corporation just prior to completion of the
spin-off. Nuvectra is an independent publicly owned company
whose common stock is listed on the Nasdaq Global Market under the
symbol “NVTR” (Nasdaq:NVTR) and will begin “regular-way” trading
today.
“Today’s successful spin-off of Nuvectra marks another point in
our strategy to design, develop and manufacture discrete
technologies and complete active implantable medical device systems
in partnership with customers,” said Greatbatch President and CEO,
Thomas J. Hook. “Nuvectra is a valuable partner and customer
utilizing an extensive array of intellectual property developed by
Greatbatch to improve the quality of life for patients
worldwide.”
Nuvectra is a medical device company initially focused on the
development and commercialization of a neurostimulation technology
platform for the treatment of a variety of neurological disorders.
The Algovita® Spinal Cord Stimulation System, approved in the
United States and Europe for the treatment of chronic pain of the
trunk and limbs, is the company’s first implantable medical device
and will be manufactured by Greatbatch under a long term supply
agreement.
“This spin-off reaffirms Greatbatch’s commitment to ensuring its
strategic priorities remain aligned with stockholders’ best
interests while continuing to create enhanced value for customers,
healthcare providers and other key stakeholders,” Hook
concluded.
About Greatbatch, Inc. Greatbatch, Inc.
(NYSE:GB) is one of the largest medical device outsource (MDO)
manufacturers in the world serving the cardiac, neuromodulation,
orthopedics, vascular, advanced surgical and portable medical
markets. The company provides innovative, high quality medical
technologies that enhance the lives of patients worldwide. In
addition, it develops batteries for high-end niche applications in
energy, military, and environmental markets. The company’s brands
include Greatbatch Medical, Lake Region Medical and Electrochem.
Additional information is available at www.greatbatch.com. In
October 2015, Greatbatch, Inc. completed its acquisition of Lake
Region Medical, with the combined company expected to be renamed
Integer Holdings Corporation later this year following stockholder
approval.
Investor Relations Contact:
Anthony Borowicz
tborowicz@greatbatch.com
tel 716-759-5809
Media Contact:
Christopher Knospe
cknospe@greatbatch.com
tel 716-759-5727
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