ITGR

What You Should Know

Integer Holdings Corporation is one of the largest medical-device outsourced manufacturers, producing components and finished devices — including cardiac, neuromodulation, vascular, and electrochemical-energy products — for the medical-device industry, plus a non-medical electrochem segment. Manufacturing medical-device components is a permissible activity, so the business-activity screen passes. What makes ITGR doubtful is the balance sheet: Integer has grown through debt-funded acquisitions and typically carries a meaningful interest-bearing debt load, so its total-debt-to-market-cap ratio should be confirmed against the 33% threshold using the latest filings — the deciding screen, and one that acquisitive manufacturers often sit near or above. The receivables ratio and any interest income should also be checked against their thresholds and the corresponding portion of returns purified. Because leverage is the binding constraint, ITGR is generally screened as doubtful rather than clearly halal.