PLAINSBORO, N.J., Jan. 12, 2015 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that, in December, it closed on the acquisition of the product portfolio from Metasurg.
The addition of the Metasurg product portfolio enhances Integra's lower extremity product offering with easy to use implant systems. It also offers the opportunity to distribute a biologic allograft derived from human placental tissue as a possible complement to Integra's wound care product offering.
Revenues in 2013 were approximately $6 million, with growth in the double digits over the prior year period. The Company expects minimal impact on profits in 2015 and slower growth during the transition period, before returning to double digit growth longer term.
Metasurg was founded in 2005 in Houston, TX, with the goal of providing foot and ankle surgeons intuitive, easy-to-use implant systems. The Company has commercialized a variety of implant systems, launching five products over the last several years. The acquired portfolio includes the DigiFuse ® Cannulated Intramedullary Fusion System, MemoFix ® Super Elastic Nitinol Staple System, Ti6® screw portfolio, BioMotion® 1st MPJ Hemi System and TruArch® Subtalar Implant System. In addition to these implants, the acquisition also offers Integra the opportunity to distribute an amniotic product line called BioFix ® Regenerative Biologics.
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions, including leading regenerative technologies, in specialty surgical solutions, orthopedics and tissue technologies, and spine hardware and orthobiologics. For more information, please visit www.integralife.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and reflect the Company's judgment as of the date of this release. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Among other things, Integra's ability to successfully integrate the Metasurg product lines into its own operations could affect the extent of the strategic benefits that Integra generates from this acquisition, and the impact of the acquisition on results of operations, including revenue growth and earnings per share. In addition, the economic, competitive, governmental, technological and other factors identified under the heading "Risk Factors" included in Item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2013 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results. These forward-looking statements are made only as the date thereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Source:Integra LifeSciences Holdings Corp.