XML 33 R22.htm IDEA: XBRL DOCUMENT v3.21.2
SUBSEQUENT EVENT
 9 Months Ended
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.