Integra LifeSciences Completes the Acquisition of Codman Neurosurgery Business from Johnson & Johnson
(Thomson Reuters ONE) -
PLAINSBORO, N.J., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Integra LifeSciences
Holdings Corporation (Nasdaq:IART), a global leader in medical technology,
announced today that it has completed the previously announced acquisition of
the Johnson & Johnson Codman Neurosurgery business for approximately $1.045
billion less customary adjustments, enhancing Integra's position as a leading
global provider of neurosurgical products.
"The addition of Codman Neurosurgery expands our global leadership position by
creating one of the broadest medical device portfolios in the neurosurgery
market," said Peter Arduini, Integra's president and chief executive officer.
"Our planned investments in product innovation and global infrastructure will
allow us to provide more healthcare solutions to surgeons and their patients
worldwide."
Integra expects it will complete the previously announced divestiture of certain
neurosurgery assets, including Integra's global Camino® ICP monitoring product
line, the U.S. rights relating to Integra's fixed pressure shunts, as well as
U.S. rights to Codman's DURAFORM®, standard EVD catheters and CSF collection
systems, to Natus Medical in the coming days. The foregoing divestiture is
being made as a result of regulatory reviews by the U.S. Federal Trade
Commission and the National Markets and Competition Commission of Spain.
"The Codman acquisition is transformational to Integra and creates significant
long-term growth opportunities for our entire company," said Mr. Arduini. "We
are excited to welcome our new colleagues from around the world into the Integra
organization."
Bank of America Merrill Lynch acted as exclusive financial advisor and Latham &
Watkins LLP acted as legal advisor to Integra.
About Integra
Integra LifeSciences Holdings Corporation, a world leader in medical technology,
is dedicated to limiting uncertainty for clinicians, so they can concentrate on
providing the best patient care. Integra offers innovative solutions, including
leading plastic and regenerative technologies, in specialty surgical solutions,
orthopedics and tissue technologies. For more information, please visit
www.integralife.com.
Forward Looking Statements
This news release contains "forward-looking statements", including statements
regarding the proposed transaction and the ability to consummate the proposed
transaction. Statements in this document may contain, in addition to historical
information, certain forward-looking statements. Some of these forward-looking
statements may contain words like "believe," "may," "could," "would," "might,"
"possible," "should," "expect," "intend," "plan," "anticipate," or "continue,"
the negative of these words, other terms of similar meaning or they may use
future dates. Forward-looking statements in this document include without
limitation statements regarding the planned integration and performance of the
Codman Neurosurgery business. These statements are subject to risks and
uncertainties that could cause actual results and events to differ materially
from those anticipated, including, but not limited to, risks and uncertainties
related to the following: statements regarding the anticipated benefits of the
Acquisition; and the effects of disruption caused by the Acquisition making it
more difficult for the Company to execute its operating plan effectively or to
maintain relationships with employees, vendors and other business partners;
stockholder litigation in connection with the Acquisition; the Company's ability
to successfully integrate the Codman Neurosurgery and other acquired businesses;
global macroeconomic and political conditions; the difficulty of predicting the
timing or outcome of product development efforts and regulatory agency approvals
or actions, if any; physicians' willingness to adopt and third-party payers'
willingness to provide reimbursement for the Company's and the Codman
Neurosurgery's existing, recently launched and planned products; difficulties or
delays in manufacturing; the availability and pricing of third party sourced
products and materials; and other risks and uncertainties discussed in the
Company's filings with the SEC, including the "Risk Factors" sections of the
Company's Annual Report on Form 10-K for the year ended December 31, 2016 and
subsequent quarterly reports on Form 10-Q. The Company undertakes no obligation
to update any forward-looking statements as a result of new information, future
developments or otherwise, except as expressly required by law. All forward-
looking statements in this document are qualified in their entirety by this
cautionary statement.
Media Contact:
Laurene Isip
609-750-7984
Laurene.isip(at)integralife.com
Investor Relations Contact:
Michael Beaulieu
609-750-2827
michael.beaulieu(at)integralife.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Integra LifeSciences Holdings Corp. via GlobeNewswire
Datum: 02.10.2017 - 22:00 Uhr
Sprache: Deutsch
News-ID 562141
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