Integra LifeSciences to acquire Derma Sciences for $200m

Integra LifeSciences (NSDQ:IART) said yesterday that it agreed to pay nearly $200 million for Derma Sciences (NSDQ:DSCI) and its line of wound care products. The $7-per-share deal includes a line of regenerative allograft products derived from human placental tissue that Derma Sciences acquired when it paid nearly $80 million for BioD last year. Integra also agreed to pay $32 per share Series A preferred stock and $48 per share for Series B preferred stock in Derma Sciences, according to a regulatory filing. The deal, slated to close by the end of the 1st quarter, is due to be funding using Integra’s existing credit line, the company said. “Derma Sciences’ amniotic tissue-based platform technology further broadens Integra’s regenerative technology capabilities and builds upon our 3×3 wound care strategy,” said Peter Arduini, Integra’s president and chief executive officer. “The addition of a complementary portfolio of wound care products, including an amniotic product with reimbursement in the wound care channel, allows us to further drive scale in the advanced wound care market.” Integra, which also released its preliminary 4th-quarter results yesterday, said it expects the Derma Sciences business to add about $65 million to the top line this year. Adjusted earnings per share are expected to take a -3¢ hit in 2017, but the unit is forecast to boost earnings in 2018 and meet Integra’s return-on-invested-capital be...
Source: Mass Device - Category: Medical Equipment Authors: Tags: MassDevice Earnings Roundup Mergers & Acquisitions Wall Street Beat Wound Care Derma Sciences Inc. Integra LifeSciences Corp. Source Type: news