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SUBSEQUENT EVENT | 9 Months Ended
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Oct. 01, 2021
Subsequent Events [Abstract] |
SUBSEQUENT EVENT | SUBSEQUENT EVENTOn October 27, 2021, the Company entered into a definitive securities purchase agreement to acquire Oscor, Inc., Oscor Caribe, LLC and Oscor Europe GmbH (collectively, “Oscor”) for a cash purchase price of $220.0 million. The Company will fund the purchase price with debt. Oscor is a privately held company with operations in Florida, the Dominican Republic and Germany that designs, develops, manufactures and markets a variety of highly specialized implantable cardiac pacing leads, venous access systems and diagnostic catheters, and will become part of the Company’s Medical segment. Upon closing, the acquisition will broaden the Company’s product portfolio, expand its R&D capabilities, and add low-cost manufacturing capacity. The Company anticipates the acquisition will be completed during the fourth quarter of 2021, subject to the satisfaction of certain customary closing conditions.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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