Greatbatch Convertible Offers Income and Safety
Greatbatch Incorporated (GB) is a leading developer and manufacturer of critical products used in medical devices for the cardiac rhythm management, neurostimulation, vascular, orthopedic, and interventional radiology markets. Electrochem Commercial Power, a subsidiary, is a leader in the design and manufacture of electrochemical cells, primary and rechargeable battery packs, and wireless sensors for demanding applications such as oil & gas exploration, pipeline inspection, and others. The company employs about 3,060.
Wilson Greatbatch patented the implantable pacemaker in 1962. He then formed the company Wilson Greatbatch Limited in 1970. By 1975, the first lithium iodine pacemaker battery was implanted, and the first lithium SVO ICD battery was implanted in 1987. The company became Wilson Greatbatch Technologies through a leveraged buyout in 1997, and later changed its name in 2005 to Wilson Greatbatch, Inc.
Setbacks in the September quarter had caused our analyst, Iason Dalavagas, to lower top- and bottom-line estimates for 2010. Read more about Greatbatch’s 2.25% convertible notes.
At the time of this article’s writing, the author did not have positions in any of the companies mentioned.