Integra LifeSciences Holdings Corporation, an Enterprise Drive-based medical device company, has bought the MicroFrance and Xomed manual ear, nose and throat (ENT) and laparoscopy instrumentation lines from Medtronic, a Minneapolis-based medical device manufacturer. Integra paid $60 million in cash for the product lines.
“The addition of the MicroFrance business advances our strategic objectives by enhancing our existing instruments portfolio and capabilities, expanding our international presence, and providing potential adjacency opportunities in the neurosurgery business,” said Glenn Coleman, Integra’s CFO.
The MicroFrance business, which includes Xomed’s manual ENT instruments, designs, manufactures, and sells reusable handheld instruments to ear, nose and throat (“ENT”) and laparoscopy surgical specialists. Under the terms of the agreement, Integra acquired a portfolio of approximately 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as the St. Aubin le Monial, France, manufacturing facility.
In the most recent annual reporting period, sales from the products being acquired totaled approximately $30 million, two-thirds of which were generated outside the U.S.
“We are excited about adding the MicroFrance business, which advances our strategic objectives in both our Instruments and International businesses while meeting our profitability and return goals,” Coleman said.
Integra LifeSciences Holdings Corporation (IART), 313 Enterprise Drive, Plainsboro 08536; 609-936-3600; fax, 609-275-5363. Peter Arduini, CEO. www.integralife.com.