07.29.15
Integra LifeSciences Holdings Corp. will acquire TEI Biosciences Inc. for $312 million in cash. The deal is expected to close during the third quarter of 2015.
The acquisition of TEI complements and expands Integra’s reconstructive surgery and regenerative wound care product offerings. Integra also will gain an expanded sales force, adding about 125 sales representatives and managers. The company will be able to expand into attractive adjacent markets, specifically abdominal wall repair and plastic and reconstructive surgery, with a new base of sales in these arenas.
“This acquisition broadens our presence in regenerative wound care and tissue repair and represents a significant push forward toward our growth objectives for 2015 and beyond,” said Peter Arduini, Integra’s president and CEO. “The addition of TEI is an important, strategic next step for both our channel and international expansion priorities. We are enthusiastic about both TEI’s product development and commercial expertise, which accelerates our ability to establish an immediate presence in the diabetic foot ulcer space.”
TEI generated revenues of approximately $63.5 million (unaudited) in 2014. Preliminarily, Integra expects the acquired revenue to increase in the high single digits in the first full year after closing.
“This transaction advances our strategy in wound care, meets our financial criteria, and generates high returns on our capital,” said Glenn Coleman, Integra’s corporate vice president and chief financial officer.
Plainsboro, N.J.-based Integra LifeSciences makes specialty surgical solutions, orthopedics and tissue technologies, and spine hardware and orthobiologics. TEI Biosciences, based in Waltham, Mass., is focused on regenerative medicine to develop and commercialize novel biologic devices for a broad spectrum of soft tissue repair and regeneration applications.
The acquisition of TEI complements and expands Integra’s reconstructive surgery and regenerative wound care product offerings. Integra also will gain an expanded sales force, adding about 125 sales representatives and managers. The company will be able to expand into attractive adjacent markets, specifically abdominal wall repair and plastic and reconstructive surgery, with a new base of sales in these arenas.
“This acquisition broadens our presence in regenerative wound care and tissue repair and represents a significant push forward toward our growth objectives for 2015 and beyond,” said Peter Arduini, Integra’s president and CEO. “The addition of TEI is an important, strategic next step for both our channel and international expansion priorities. We are enthusiastic about both TEI’s product development and commercial expertise, which accelerates our ability to establish an immediate presence in the diabetic foot ulcer space.”
TEI generated revenues of approximately $63.5 million (unaudited) in 2014. Preliminarily, Integra expects the acquired revenue to increase in the high single digits in the first full year after closing.
“This transaction advances our strategy in wound care, meets our financial criteria, and generates high returns on our capital,” said Glenn Coleman, Integra’s corporate vice president and chief financial officer.
Plainsboro, N.J.-based Integra LifeSciences makes specialty surgical solutions, orthopedics and tissue technologies, and spine hardware and orthobiologics. TEI Biosciences, based in Waltham, Mass., is focused on regenerative medicine to develop and commercialize novel biologic devices for a broad spectrum of soft tissue repair and regeneration applications.
