Integer Holdings Corporation (NYSE: ITGR) appointed James Flanagan and Aaron Kapito to its board of directors as part of a cooperation agreement with activist investor Irenic Capital Management, the medical device contract manufacturer announced.

Flanagan, former chief operating officer of PwC from 2014 to 2021, brings 39 years of financial and operational experience. He previously led PwC's U.S. Financial Services Practice and served as Transaction Services Leader. Flanagan holds a bachelor's degree in accounting from Long Island University.

Kapito serves as a partner at Politan Capital Management, which he co-founded in 2021. He previously worked as a senior analyst at Lion Point Capital and Elliott Management. Kapito earned a bachelor's degree in economics from the Wharton School and an MBA from Harvard Business School.

Under the cooperation agreement, Irenic agreed to customary standstill, voting and confidentiality provisions. The full agreement will be filed with the Securities and Exchange Commission.

Two existing Integer directors will not stand for re-election at the company's annual stockholder meeting, consistent with the board's succession process.

"We remain focused on executing our strategy to deliver long-term value for our shareholders," said Payman Khales, Integer's president and CEO. The company expects organic sales growth to return to market levels during 2026 and above-market in 2027.

Adam Katz, co-founder and chief investment officer of Irenic Capital Management, said the firm invested in Integer because it believes the company is positioned to capitalize on growth opportunities in key markets.

Integer operates as a contract development and manufacturing organization serving cardio and vascular, neuromodulation, and cardiac rhythm management markets.