Integra LifeSciences Holdings Corporation and Medtronic Inc. announced Wednesday an agreement in which Integra will acquire Medtronic's MicroFrance and Xomed manual ENT and laparoscopy medical equipment lines for approximately $60 million.
Under the agreement, Plainsboro-based Integra will acquire a portfolio of approximately 4,000 MicroFrance and Xomed instruments, as well as the St. Aubin le Monial, France, manufacturing facility. The acquisition will expand Integra’s instrument presence outside of the U.S.
“This announcement reflects Integra's continuing commitment to building our instruments business,” Debbie Leonetti, Integra's CVP, president, U.S. Instruments, said in a statement. “The transaction … will improve our ability to service our current portfolio and to develop new products. These products also align nicely with our current sales channels as well as adjacent divisions, particularly our neurosurgery business."
Integra said it expects to gain $27 million to $30 million in revenue in 2015 from the acquisition.
The transaction is expected to close in the fourth quarter of 2014.
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