Exhibit 99.1

 Greatbatch, Inc. Agrees To Exchange $50 Million of Its $170 Million
 Outstanding Convertible Subordinated Debentures for a New Series of
    Convertible Subordinated Debentures and to Issue an Additional
             $80 Million of the New Series of Debentures


    CLARENCE, N.Y.--(BUSINESS WIRE)--March 22, 2007--Greatbatch, Inc.
(the "Company") (NYSE:GB) today announced that it has entered into
separate privately negotiated agreements under which it will exchange
$50 million aggregate principal amount of its outstanding 2 1/4%
Convertible Subordinated Debentures due 2013 for an equivalent
principal amount of a new series of 2 1/4% Convertible Subordinated
Debentures due 2013 ("New Debentures"), and under which it will issue
an additional $80 million aggregate principal amount of New
Debentures. The transactions are expected to close, subject to
customary closing conditions, on March 28, 2007.

    The New Debentures contain a net share settlement feature, which
requires the Company, upon conversion of the New Debentures, to pay
holders in cash for each $1,000 principal amount of New Debentures the
lesser of $1,000 and the conversion value of the New Debentures,
unless the Company otherwise elects. Any amounts in excess of $1,000
will be settled in shares of the Company's common stock, or at the
Company's option, cash. The initial conversion price of the New
Debentures is approximately $34.70. The New Debentures are redeemable
by the Company at any time after June 20, 2012, or at the option of a
holder upon the occurrence of certain fundamental changes affecting
the Company. The New Debentures do not contain the put option
provisions of the Company's currently outstanding Debentures which
provide the holders a one-time option to require the Company to
repurchase those outstanding Debentures on June 15, 2010.

    The New Debentures and the common stock issuable upon conversion
of the New Debentures will not be registered under the Securities Act
of 1933, as amended, or the securities laws of any state and, unless
so registered, may not be offered or sold in the United States except
pursuant to an applicable exemption from the registration requirement
of the Securities Act and applicable state securities laws.

    This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of these securities. This press
release is being issued pursuant to and in accordance with Rule 135c
under the Securities Act.

    About Greatbatch, Inc.

    Greatbatch, Inc. is a leading developer and manufacturer of
critical components used in implantable medical devices and other
technically demanding applications.


    CONTACT: Greatbatch, Inc.
             Investor Relations:
             Anthony Borowicz, 716-759-5809
             Treasurer and Director, Investor Relations
             tborowicz@greatbatch.com