Integra LifeSciences Completes the Sale of its Extremity Orthopedics Business to Smith+Nephew

Rhea-AI Summary

Integra LifeSciences (NASDAQ:IART) has finalized the divestiture of its Extremity Orthopedics business to Smith+Nephew. This strategic move aims to enhance Integra's focus on its core offerings in neurosurgery and regenerative medicine. CEO Peter Arduini emphasized that this divestiture will help create greater value for customers and shareholders. The company is advised by Piper Sandler & Co. as financial advisor and Morgan, Lewis & Bockius LLP as legal advisor. Future performance remains uncertain, with various risks noted, including financial performance projections.

Positive

• Focused strategy on core products and technologies in neurosurgery and regenerative medicine.
• Potential for increased value to customers and shareholders post-divestiture.

Negative

• None.

PRINCETON, N.J., Jan. 04, 2021 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ:IART), a leading global medical technology company, today announced it has completed its previously announced divestiture of its Extremity Orthopedics business to Smith+Nephew (LSE:SN, NYSE:SNN).

“With this divestiture, we will now be in an even stronger position to capitalize on our core products and technologies in neurosurgery and regenerative medicine, and provide greater value to our customers and shareholders,” said Peter Arduini, president and CEO, Integra LifeSciences. “We want to thank the orthopedics team for their contributions to Integra’s success and wish them all the best for their future.”

Piper Sandler & Co. is serving as financial advisor and Morgan, Lewis & Bockius LLP is acting as legal advisor to Integra.

About Integra LifeSciences
Integra LifeSciences is a global leader in regenerative technologies and neurosurgical solutions dedicated to limiting uncertainty for clinicians, so they can focus on providing the best patient care. Integra offers a comprehensive portfolio of high quality, leadership brands that include AmnioExcel®, Bactiseal®, Certas^®, Codman®, CUSA®, DuraGen®, DuraSeal®, ICP Express®, Integra®, MediHoney®, MicroFrance®, PriMatrix®, SurgiMend®, TCC-EZ®, and VersaTru®. For the latest news and information about Integra and its products, please visit www.integralife.com.

This news release contains forward-looking statements, including statements about our current and future performance within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties, and reflect the Company's judgment as of the date of this release.  Forward-looking statements include, but are not limited to, those that include words such as “estimate,” “will,” “plan,” “should,” “expect,” “continue,” and “forecast”. Forward-looking statements also include, but are not limited to, statements concerning future financial performance, including projections for revenues. It is important to note that the Company’s goals and expectations are not predictions of actual performance. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such risks and uncertainties include, but are not limited to, risk factors and uncertainties 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, 2019 and information contained in subsequent filings with the Securities and Exchange Commission.

These forward-looking statements are made only as of the date hereof, 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.

Investor Relations Contact
Michael Beaulieu
Director, Investor Relations
(609) 529-4812
michael.beaulieu@integralife.com

Media Contact:
Laurene Isip
Senior Director, Global Corporate Communications
(609) 750-7984
laurene.isip@integralife.com

FAQ

What recent business decision did Integra LifeSciences (IART) make regarding its Extremity Orthopedics division?

Integra LifeSciences announced the completion of its divestiture of the Extremity Orthopedics business to Smith+Nephew.

How does the divestiture of the Extremity Orthopedics business affect Integra LifeSciences' focus?

The divestiture allows Integra LifeSciences to concentrate more on its core products in neurosurgery and regenerative medicine.

Who is advising Integra LifeSciences during the divestiture?

Piper Sandler & Co. is serving as the financial advisor, and Morgan, Lewis & Bockius LLP is acting as the legal advisor.

What are the future performance outlooks for Integra LifeSciences post-divestiture?

While focusing on core products, future performance remains uncertain, with various risks associated with financial projections.