IART - Integra LifeSciences Announces Definitive Agreement to Acquire Acclarent® | Benzinga
- The acquisition will become part of Integra's Codman Specialty Surgical (CSS) division. The ear, nose and throat (ENT) category is a key area of strategic interest and highly complementary to the neurosurgery segment.
- Provides a unique opportunity to build scale and capture a leadership position in the attractive ENT device segment with Acclarent's established commercial scale, strong brand recognition, differentiated portfolio, and robust innovation pipeline.
- Generates shareholder value; transaction expected to be accretive to Integra's long-range plan.
PRINCETON, N.J., Dec. 13, 2023 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (NASDAQ:IART), a global leader in medical technology, today announced that it has entered into a definitive agreement to acquire Acclarent, Inc. from Ethicon, Inc., a Johnson & Johnson MedTech company for $275 million in cash at closing, subject to customary purchase price adjustments, and an additional $5 million upon the achievement of certain regulatory milestones. Acclarent is an innovator and market leader in ENT procedures and upon closing, Integra will be one of the leading providers of ENT products and technologies.
"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 chief executive officer 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."
The U.S. ENT specialty devices market is growing at 5-6% and will add approximately $1 billion to the CSS global total addressable market. The Acclarent portfolio includes its groundbreaking balloon technologies for sinus dilation and eustachian tube dilation as well as surgical navigation systems.
Acclarent is headquartered in Irvine, California, and derives its revenues from U.S. product sales, which generated about $110 million in 2022 and gross margins in line with Integra's company average. The company maintains R&D facilities in Irvine and Haifa, Israel, and uses third-party manufacturers.
"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 ...