Integra LifeSciences Announces Agreement to Acquire
The Selector(R) Ultrasonic Aspirator, Ruggles(TM) Surgical
Instrumentation and Spembly Medical Cryosurgery Product Lines
of NMT Medical, Inc.
Plainsboro, NJ, March 21, 2000/PR Newswire/ -- Integra LifeSciences Holdings
Corporation (Nasdaq: IART) today announced that it has agreed to acquire from
NMT Medical, Inc. (Nasdaq:NMTI) the Selector(R) Ultrasonic Aspirator,
Ruggles(TM) Surgical Instrumentation and Spembly Medical Cryosurgery product
lines, including certain assets and liabilities, for an acquisition price of
$12.0 million.
In connection with the acquisition, Integra will change the name of its
neurosurgical device business from Integra NeuroCare to Integra NeuroSciences.
Integra NeuroSciences designs, manufactures and sells implants, instruments and
monitors used in neurosurgery and intensive care units, primarily for the
treatment of neurological trauma and surgery. Revenue of the acquired product
lines during 1999 was approximately $12.1 million.
The combination of this purchase and the acquisition of Clinical Neuro Systems
earlier this year expands Integra NeuroSciences business in the United States
and around the world. Together with its seven-person medical education unit,
Integra NeuroSciences' direct selling effort will expand to 45 U.S. field
personnel focused on neurotrauma and neurosurgery. The Company will recruit a
direct sales force for selling directly in the United Kingdom and Ireland.
Integra NeuroSciences will continue to sell its products in over 60 countries
worldwide through a combined network of approximately 100 international
distributors.
The $12.0 million acquisition price comes from cash on hand. Earlier this year,
Integra announced that it had agreed to sell $5.4 million of preferred stock to
investment affiliates of Soros Private Equity Partners LLC. That investment is
expected to close by the end of March.
Stuart M. Essig, Integra President and Chief Executive Officer, commented, "This
acquisition establishes Integra as an industry leader in neurosurgery and
neurotrauma. It allows us to continue to broaden and strengthen Integra's
well-trained and experienced sales group, and adds to Integra's revenues and
cash flow. These new products, along with our existing neurosurgical devices,
will be sold through a direct sales force in the United States, United Kingdom,
and Ireland."
The assets to be acquired include a manufacturing, packaging and distribution
facility located in Andover, England.
Integra LifeSciences Holdings Corporation has its corporate headquarters in
Plainsboro, NJ. Manufacturing and research facilities are also located in San
Diego, CA, Anasco, Puerto Rico, and Exton, PA. The Company has approximately 475
full-time employees. Please feel free to visit the Company's Website at
(http://www.integra-LS.com).
This news release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve risks and uncertainties that could cause actual results to
differ from predicted or pro-forma results. Achieving the anticipated benefits
of business acquisitions will depend in part upon whether the integration of the
companies' businesses is accomplished in an efficient manner, and there can be
no assurance that this will occur. Further forward-looking factors include, but
are not limited to, new product development, governmental approvals, market
potential and resulting sales as well as potential therapeutic applications, and
additional acquisitions. In addition, the economic, competitive, governmental,
technological and other factors identified in Integra's filings with the
Securities and Exchange Commission could affect actual results.
Integra NeuroSciences
---------------------
Fact Sheet
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Integra NeuroSciences is the neurosurgery division of Integra LifeSciences
Holdings Corporation. Integra NeuroSciences sells direct in the United States
through 38 direct sales representatives and seven clinical education specialists
and approximately 100 international distributors who cover over 60 countries
worldwide.
Integra NeuroSciences has consistently brought innovative technologies to
market. Integra NeuroSciences products are as follows:
- ------------------------- -------------------------------------------------- --------------------------------
Products Use Brand
- ------------------------- -------------------------------------------------- --------------------------------
Intracranial monitoring For continuous pressure and temperature Camino(R); Clinical Neuro
and Drainage monitoring of the brain following injury Systems(TM); Ventrix(R)
intracranial pressure
monitoring and drainage systems
- ------------------------- -------------------------------------------------- --------------------------------
Ultrasonic aspiration For removal of tumors Selector(R)Ultrasonic Aspirator
- ------------------------- -------------------------------------------------- --------------------------------
Neurosurgical shunts Specifically designed for the maintenance of the Heyer-Schulte(R); Novus(R);
chronic condition, hydrocephalus, i.e. excess Sundt(R); Spetzler(R)shunting
pressure in the brain, as well as hemodynamic systems
shunting
- ------------------------- -------------------------------------------------- --------------------------------
Neuroendoscopy For minimally invasive surgical access to the Neuro Navigational(R)
brain Flexible endoscopes for
neurosurgery
- ------------------------- -------------------------------------------------- --------------------------------
Neurosurgical Specialized surgical instruments for Redmond(TM); Ruggles(TM)
instruments neurosurgeons Neurosurgical and spinal
instruments
- ------------------------- -------------------------------------------------- --------------------------------
Neurosurgical hemostasis Rapid hemostasis in neurosurgical and spinal Helitene(R)(1) Microfibrillar
surgery Hemostat
- ------------------------- -------------------------------------------------- --------------------------------
Dural grafts For repair of damage to the dura mater, the DuraGen(TM)Dural
membrane that encases the brain and spinal column Graft Matrix
- ------------------------- -------------------------------------------------- --------------------------------
Integra NeuroSciences products are manufactured around the globe - San Diego,
California produces Camino(R), Ventrix(R), and Neuro Navigational(TM) products;
Andover, England produces the Selector(R) ultrasonic aspirators and the
cryosurgery products; Exton, Pennsylvania produces the Clinical Neuro
Systems(TM) products; Plainsboro, New Jersey produces DuraGen(TM) and
Helitene(R) products; the Anasco, Puerto Rico facility produces Heyer-Schulte(R)
and Sundt(R) shunting products.
- --------
(1) Not approved for neurological use in the United States.
SOURCE: Integra LifeSciences Holdings Corporation
CONTACT: John B. Henneman, III of Integra LifeSciences Holdings Corporation,
609-936-2481,
jhenneman@integra-LS.com.