Integra Life Sciences announced Jan. 4 that it finalized the $240 million sale of its Extremity Orthopedics unit to British medical device maker Smith+Matthew.
“With this divestiture, we will now be in an even stronger position to capitalize on our core products and technologies in neurosurgery and regenerative medicine, and provide greater value to our customers and shareholders,” Peter Arduini, president and chief executive officer at Integra, said in a statement this week.
The transaction means that Integra will sell off its product portfolio in upper and lower extremity orthopedics, including wrist product lines, and arthroplasties for ankles and shoulders. Integra said that this sector net $90 million in 2019 and almost $33 million in the first half of 2020.
Piper Sandler & Co is Integra’s financial advisor for the deal, while Morgan, Lewis & Bockius is providing legal counsel.
As part of the deal, Princeton-based Integra will pay $41.5 million to the Consortium of Focused Orthopedists LLC.
