PLAINSBORO, New Jersey, August 13, 2015 /PRNewswire/ --
Integra LifeSciences Holdings Corporation (NASDAQ: IART) announced that it has completed the acquisition of all of the outstanding shares of TEI Biosciences Inc. and TEI Medical Inc. ("TEI"). The acquisition of TEI complements and expands Integra's reconstructive surgery and regenerative wound care product offerings. In addition, it will enhance shareholder value through the following strategic benefits:
- Broadens Integra's position as a leader in regenerative wound care and tissue repair with the addition of the complementary technology platform SurgiMend® & Primatrix, both acellular biologic matrices;
- Expands our sales force to support market demand and drive growth in the operation rooms, burn centers, and wound care clinics with the addition of about 125 sales reps and managers in the United States;
- Offers regenerative technology-based products and new base of sales in attractive adjacent markets, specifically abdominal wall repair and plastic and reconstructive surgery;
- Provides attractive operating margins, which will allow for investment to further develop the combined regenerative wound care technology platform and strengthen the commercial channel
"We are enthusiastic about the strategic fit of these two organizations, and the positive impact TEI has on both top and bottom-line metrics," stated Peter Arduini, Integra's President and Chief Executive Officer. "With this acquisition, we have a significant opportunity to build our platform and fuel a robust pipeline of regenerative products to accelerate Integra's overall growth."
"The combined organization will offer surgeons a leading regenerative technology platform for indications in soft tissue reconstruction and wound repair," said Mark Augusti, Integra's CVP and President, Orthopedics and Tissue Technologies. "In addition to TEI's complementary call points in the wound care clinic and operating room, TEI's products provide surgeons with different strength and handling characteristics."
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for caregivers, 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. For more information, please visit http://www.integralife.com
About TEI Biosciences Inc.
TEI Biosciences, based in Waltham, MA, is a privately-held, leading biomedical company that applies its expertise in regenerative medicine to develop and commercialize novel biologic devices, including SurgiMend®, for a broad spectrum of soft tissue repair and regeneration applications - from dura and hernia repair to plastic and reconstructive surgery.
About TEI Medical Inc.
TEI Medical is a Massachusetts-based, privately-held, biomedical company. TEI Medical is a spin-off from TEI Biosciences, with worldwide exclusive license to the TEI regenerative technology in the fields of wound healing and orthopedics. TEI Medical sells PriMatrix and PriMatrix Ag through its direct sales force in the US, and through international partners.
SOURCE Integra LifeSciences