Intricon Corporation

Based in Minnesota, US, and founded in 1930, Intricon Corporation operates as a manufacturing company that provides micro medical products such as microelectronics, micro-mechanical assemblies, high-precision injection-molded plastic components, and complete body-worn devices for original equipment manufacturers (OEMs). Intricon Corporation is a publicly listed company that trades on the Nasdaq Global Market under the symbol IIN. In February 2022, Altaris agreed to fully acquire Intricon Corporation through a public-to-private transaction selling shares at USD 24. 25 per share in cash for approximately USD 241 million.

Following the transaction, Intricon Corporation was delisted from the NASDAQ stock exchange. The transaction is expected to close in the second quarter of 2022, subject to customary closing conditions, including approval by Intricon shareholders and receipt of regulatory approvals. As of February 2022, Scott Longval is the president and CEO of the company. As of December 2021, Intricon Corporation employs about 873 employees.

Intricon Corporation provides micro-mechanical assemblies, microelectronics, micro medical products, high-precision injection-molded plastic components, complete assemblies, bubble sensors, flow restrictors, professional audio headset products, hearing device products, medical and professional audio communications products, software solutions, and more. Intricon Corporation generates revenues from medical, hearing health, and professional audio communications business segments. The company generated net revenue of USD 125. 206 million in the fiscal year ended in December 2021.

Intricon Corporation plans to use February 2022 acquisition to expand its joint development production capabilities in micro medical technology across a variety of high-growth areas.