So, the Tissue Technologies division was down ~15%. Excluding Boston, tissue technologies sales were down 4.4%. But it was the Wound Reconstruction and Care product sales within the Tissue Technologies division that was the real stinker – sales fell from ~$100,000 to ~$80,000. A 20% drop in sales in wound reconstruction and care products and by the company’s own admission, not all attributable to Boston!
Still, no need to cry for Integra, they say they’re happy with their performance (see below). And no need to cry for the President/CEO. After less than three years at the helm, and despite an annual compensation package of US$9.3m, Jan de Witte announced in February that he's retiring. Since then, Integra’s stock price has halved. Market cap, which was US$4.2bn a year ago is now down to US$1.8bn.
"We are pleased with our strong first quarter financial performance, which reflects the strength of our diversified portfolio and the unwavering commitment of our colleagues worldwide to our customers and patients,” said Jan De Witte, Integra LifeSciences' president and chief executive officer.
https://investor.integralife.com/ne...sciences-reports-first-quarter-2024-financial
https://investor.integralife.com/node/26596/html
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