Integra LifeSciences Announces Agreement to Acquire Ascension Orthopedics (press release)
The numbers...
$65M cash
IART pays 3.4 X sales in 2010 of $19M
Ascension generated operating losses of about $2M per quarter
Ascension products will become 45% of Integra's Orthopedics revenues
PLAINSBORO, N.J. and AUSTIN, Texas, Sept. 12, 2011 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation IART +1.63% and Ascension Orthopedics, Inc. ("Ascension") today announced an agreement for Integra to acquire Ascension, a provider of high quality, innovative products for the foot, hand and shoulder markets, for approximately $65 million in cash, subject to adjustments. When combined with Integra's legacy business, the products will represent approximately 45% of Integra's Orthopedics revenues.
Ascension, based in Austin, Texas, develops and distributes a range of implants for the shoulder, elbow, wrist, hand, foot and ankle. In particular, Ascension will add a significant upper extremity and shoulder portfolio, which complements Integra's strength in lower extremity.
"Ascension is an ideal strategic fit for Integra, as it reinforces our commitment to and presence in the...
