Just some more on this, seems as if they are trying other avenues?
They are spending big on these, it seems?
https://www.massdevice.com/integra-lifesciences-announces-a-plant-closure/
Integra Lifesciences announces a plant closure
February 26, 2024 By
Chris Newmarker
Integra Lifesciences (NASDAQ: IART)
is closing its ACell plant in Lafayette, Indiana, letting go of almost all of the workers.
Princeton, New Jersey–based Integra informed the Indiana Department of Workforce Development in a Feb. 13 WARN notice that the closure will result in a layoff of 60 workers — 52 on April 26 and eight on May 31. The number is less than 2% of the 3,722 employees that the company
listed in its most recent annual report.
The
Lafayette Journal & Courier and other local media
broke the news last week. Integra said that it is moving
Urinary Bladder Matrix manufacturing to its Columbia, Maryland location. UBM is an extracellular matrix scaffold derived from porcine urinary bladder. Integra Lifesciences uses it in its Cytal wound and Cytal burn matrix, Micromatrix UBM particulate, and Gentrix surgical matrix products.
The company acquired the Urinary Bladder Matrix tech through its
more than $300 million acquisition of Columbia, Maryland–based ACell in 2021.
In a statement shared today with
MassDevice, Integra said that it is providing support and transition services to affected workers. “As part of our integrated growth strategy, we continually evaluate ways we can strengthen our operational efficiency to better serve our customers, innovate new treatment pathways and maximize the impact we have on restoring patients’ lives.”
A tissue-related products recall — and related temporary facility closure in Boston — weighed on Integra Lifesciences’ results for much of 2023. At its presentation at the annual J.P. Morgan Healthcare Conference in January, the company said that the Boston factory restarted in November, with distribution of its products expected to
resume in mid-to-late Q2 2024.
In December, Integra Lifesciences announced that a
more than $275 million agreement to acquire Acclarent from Johnson & Johnson MedTech.
Integra Lifesciences reports its Q4 and full-year 2023 financial results on Feb. 28.
Filed Under:
Business/Financial News,
Featured,
Wound Care Tagged With:
Integra LifeSciences
https://www.massdevice.com/integra-lifesciences-buy-johnson-johnson-acclarent/
Integra LifeSciences to buy Johnson & Johnson’s Acclarent and its ENT tech
December 13, 2023 By
Sean Whooley
Integra LifeSciences (Nasdaq: IART)
announced today that it entered into a definitive agreement to acquire Acclarent from Johnson & Johnson MedTech.
Acclarent, part of J&J MedTech’s Ethicon unit, enhances Integra’s position in the ear, nose and throat (ENT) treatment market. Integra already offers the MicroFrance line of ENT instruments. The company believes that, upon closing, the deal propels it into a position as a leading provider of ENT products and technologies.
Integra agreed to acquire Acclarent for $275 million in cash at closing. The deal also includes an additional $5 million upon the achievement of regulatory milestones.
“This acquisition presents Integra with a rare opportunity to become a key player in the ENT segment. Acclarent’s culture of pioneering technologies aligns with Integra’s legacy of innovation to transform care and restore patients’ lives,”
said Jan De Witte, president and CEO of Integra LifeSciences. “We are looking forward to welcoming the Acclarent employees to the Integra team. Together, we can make a profound impact on the future of ENT and neurosurgery.”
Acclarent’s portfolio features groundbreaking balloon technologies for sinus dilation and eustachian tube dilation. The Irvine, California-based company also offers surgical surgical navigation systems. Its U.S. product sales generated about $110 million in 2022.
Integra expects to close the transaction by the second quarter of 2024. Acclarent will join Integra’s Codman Specialty Surgical (CSS) division.
“The ENT segment is an anatomical adjacency to neurosurgery. For example, this acquisition will provide opportunities for ENT and neurosurgeons to closely collaborate on tumor care using skull base approaches,” said Mike McBreen, president of the CSS division. “Acclarent’s strong commercial capabilities, R&D expertise, advanced portfolio and deep clinical knowledge will be important assets to Integra, allowing us to deliver future innovation not only within ENT, but also across our other CSS technology platforms.”
The analysts’ view
BTIG analysts Ryan Zimmerman and Iseult McMahon wrote in a report that Integra management highlighted Acclarent’s portfolio diversity as a key reason to pursue the acquisition. That portfolio includes navigation and instrumentation outside of the key balloon sinus dilation products. However, the analysts said it remains unclear which proportion of sales are tied to elective balloon sinus dilation and what’s newer.
Zimmerman and McMahon view synergies as “less obvious” in this deal and expect the need for an entirely separate sales force.
They see cross-sell opportunities with ENT instrumentation and the rest of Integra’s CSS portfolio. But, with navigation and shaver products going up against the established likes of Medtronic and Stryker in the market, the analysts remain unsure.
BTIG maintains its “Neutral” rating on Integra but notes that the $275 million deal “isn’t a bad price.” Johnson & Johnson bought Acclarent in 2010 for $785 million, to compare.
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