Greatbatch is buying Lake Region Medical for approximately $730 million in cash and stock, according to a Wall Street Journal report.
Here are seven key notes:
1. Greatbatch will pay $478 million in cash and 5.1 million in shares.
2. The deal is valued at $1.73 billion, including the assumption of debt.
3. The combined company will have about $1.5 billion in revenues.
4. Both companies' boards have approved the deal.
5. Lake Region Medical develops cardio and vascular products as well as advances surgical products, which includes spine and joint reconstruction devices.
6. Synergies from the deal are expected to be about $25 million in 2016 and are estimated to increase to $60 million in 2018.
7. The acquisition is the latest in a string of medical device company mergers in 2015. The Zimmer-Biomet merger closed in June, and Medtronic completed its acquisition of Covidien in January.