Integra LifeSciences picks up TEI Biosciences, TEI Medical for $312m (MassDevice)
Mergers & Acquisitions in Orthopedics
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Integra LifeSciences (NSDQ:IART) said yesterday that it agreed to acquire TEI Biosciences and sister company TEI Medical for $312 million in cash in a bid to expand its footprint in reconstructive surgery and regenerative wound care.
The deal, expected to close during the 3rd quarter, brings TEI’s PriMatrix dermal repair scaffold and a 125-member sales force under the Integra umbrella, that Plainsboro, N.J.-based company said. TEI is based in Waltham, Mass.
“This acquisition broadens our presence in regenerative wound care and tissue repair and represents a significant push forward toward our growth objectives for 2015 and beyond. The addition of TEI is an important, strategic next step for both our channel and international expansion priorities. We are enthusiastic about both TEI’s product development and commercial expertise, which accelerates our ability to establish an immediate presence in the diabetic foot ulcer space,” Integra president & CEO Peter Arduini said in prepared remarks.
“It is an exciting time for TEI, an...
