KKR closes in on $4bn acquisition of Integer Holding

KKR is nearing an agreement to acquire medical device outsourcing specialist Integer Holdings in a $4bn take-private transaction that would further expand the private equity firm’s healthcare portfolio, according to a report by the Wall Street Journal.

The proposed deal could value Plano, Texas-based Integer at approximately $127 per share, implying a valuation of more than $4bn. While negotiations are said to be advanced, a final agreement has yet to be confirmed.

Shares in Integer rose around 20% following reports that a transaction could be announced as early as next week.

Integer provides design, development and manufacturing services for medical device companies, producing critical components used across a range of healthcare technologies. The company has become an attractive acquisition target amid continued investor interest in outsourced medical technology manufacturing businesses.

The potential transaction follows pressure from activist investor Irenic Capital Management, which built a stake of more than 3% in the company and called for governance changes and a review of strategic alternatives. Earlier this year, Integer confirmed its board had initiated a strategic review, including evaluating a possible sale or merger.

For KKR, the acquisition would strengthen an already significant healthcare technology portfolio, which includes investments in companies such as Cotiviti, Infinx and Healthium MedTech.

The prospective deal also comes as KKR continues to deploy capital following a strong period of portfolio realisations. The firm recently reported its strongest quarter on record for asset sales, providing additional firepower for new investments despite a broader slowdown in private equity exits.

Healthcare remains one of private equity’s most active sectors, with investors attracted by resilient demand, recurring revenues and long-term demographic trends. Large-scale buyouts in the sector have continued in 2026, underlining sustained appetite for healthcare technology and medical device assets despite a more selective dealmaking environment.