Integra LifeSciences CEO Jan De Witte to retire

Incoming Integra Lifesciences CEO Jan D. De Witte [Image courtesy of Integra]Integra LifeSciences (Nasdaq: IART) + announced today that President and CEO Jan De Witte informed the board of his intention to retire.

De Witte plans to retire following the appointment of a successor. Integra anticipates that appointment to come by the end of 2024. Additionally, the company appointed Stuart Essig, Integra chair, to the role of executive chair, effective immediately.As executive chair, Essig’s role entails driving shareholder value and ensuring an effective transition.

Essig became a non-executive chair in 2012 and previously served as Integra’s CEO from 1997 to 2012.

“We are grateful to Jan for his leadership and commitment to Integra and the role he has played in advancing our portfolio and building upon our legacy of innovation,” Essig said in a news release. “Jan’s personal decision to retire from Integra…

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Integra Lifesciences announces a plant closure

Integra Lifesciences (NASDAQ: IART) + is closing its ACell plant in Lafayette, Indiana, letting go of almost all of the workers.

Princeton, New Jersey–based Integra informed the Indiana Department of Workforce Development in a Feb. 13 WARN notice that the closure will result in a layoff of 60 workers — 52 on April 26 and eight on May 31. The number is less than 2% of the 3,722 employees that the company listed in its most recent annual report.

The Lafayette Journal & Courier and other local media broke the news last week. Integra said that it is moving Urinary Bladder Matrix manufacturing to its Columbia, Maryland location. UBM is an extracellular matrix scaffold derived from porcine urinary bladder. Integra Lifesciences uses it in its Cytal wound and Cytal burn matrix, Micromatrix UBM particulate, and Gentrix surgical matrix products.

The company acquired the Urinary Bladder Matrix tech through its more tha…

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Integra LifeSciences to buy Johnson & Johnson’s Acclarent and its ENT tech

Integra LifeSciences (Nasdaq: IART) + announced today that it entered into a definitive agreement to acquire Acclarent from Johnson & Johnson MedTech.

Acclarent, part of J&J MedTech’s Ethicon unit, enhances Integra’s position in the ear, nose and throat (ENT) treatment market. Integra already offers the MicroFrance line of ENT instruments. The company believes that, upon closing, the deal propels it into a position as a leading provider of ENT products and technologies.

Integra agreed to acquire Acclarent for $275 million in cash at closing. The deal also includes an additional $5 million upon the achievement of regulatory milestones.

“This acquisition presents Integra with a rare opportunity to become a key player in the ENT segment. Acclarent’s culture of pioneering technologies aligns with Integra’s legacy of innovation to transform care and restore patients’ lives,” said Jan De Witte, pre…

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Integra Lifesciences hit with FDA warning letter over Boston facility

The FDA says Integra Lifesciences (Nasdaq: IART) +  has inadequately responded to violations that it found at the company’s TEI Biosciences plant in Boston.

Integra Lifesciences’ Boston facility makes extracellular bovine matrix products for tissue repair and regeneration, wound care and more. In May, the company voluntarily recalled all tissue-related products made in Boston and distributed between March 1, 2018 and May 22, 2023. The recalled products included SurgiMend, PriMatrix, Revize and TissueMend. According to the company, an internal investigation found deviations with endotoxin testing. The result was a release of products with higher levels of endotoxins than permitted by the product specifications. Higher levels of endotoxins can induce an immune response, including a postoperative fever.

The facility previously received an FDA warning letter in 2019. A new FDA warning letter — dated July 17 and …

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Integra Lifesciences expects to resume manufacturing in Boston

Integra LifeSciences (NASDAQ: IART) recently announced that it plans to resume manufacturing in its Boston facility by the end of the fourth quarter.

Just two months before, Integra voluntarily recalled all tissue-related products made in Boston and distributed between March 1, 2018 and May 22, 2023. The recalled products included SurgiMend, PriMatrix, Revize and TissueMend. According to the company, an internal investigation found deviations with endotoxin testing. The result was a release of products with higher levels of endotoxins than permitted by the product specifications. Higher levels of endotoxins can induce an immune response, including a postoperative fever.

During a July 27 earnings call with analysts, CEO Jan De Witte said the company, over the past months, has strengthened its leadership and project management in Boston, made investments and brought in outside subject matter experts. A third-party auditor is assessing progress and key milestones …

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Integra Lifesciences completes enrollment in DuraSorb monofilament mesh IDE study

Integra LifeSciences (Nasdaq: IART) + announced that it completed enrollment ints U.S. DuraSorb trial.

The FDA investigational device exemption (IDE) clinical study evaluates DuraSorb in two-stage breast reconstruction. The bioabsorbable matrix-based monofilament mesh currently has FDA clearance to reinforce soft tissue where weakness exists.

Princeton, New Jersey-based Integra said its study marks the first and only active, multi-center IDE study evaluating the use of a surgical matrix in two-stage breast reconstruction. It enrolled several hundred patients across seven major academic hospitals around the U.S. Integra noted in a news release that it completed enrollment “sooner than anticipated.”

The company aims to evaluate the safety and effectiveness of DuraSorb to obtain premarket approval for use in two-stage breast reconstruction. Its primary follow-up period comes one year after device implan…

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Integra Lifesciences names Lea Daniels Knight as CFO

Integra LifeSciences (Nasdaq:IART) + this week announced it appointed Lea Daniels Knight as executive Vice President and chief financial officer, effective June 28.

Knight has more than 30 years of experience in global companies with significant operating scale and complexity. She most recently was executive VP of business finance for Booz Allen Hamilton, where she was responsible for providing strategic and financial leadership to all of the company’s business sectors to support above-market growth.

“I deeply admire the company’s purpose of restoring patients’ lives and its mission of driving innovation and setting new treatment standards of care as it aligns with my own values,” Knight said in a news release. “I look forward to leveraging my experience in finance, healthcare, global business services and operational organizations, and build on Integra’s leadership position in surgical, neurologic and regenerati…

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Integra LifeSciences stock takes a hit despite Street-beating Q1

Integra LifeSciences (Nasdaq:IART) + shares dipped today despite first-quarter results that beat the consensus revenue forecast.

Shares of IART slid 8.5% to $53.84 apiece as the market opened today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 1.4%.

BTIG analyst Ryan Zimmerman said an implied set-up for the remainder of the year may be viewed as “challenging” by investors. Any reservations over Integra’s ability to hit its goals this year could be responsible for the stock dip.

The Princeton, New Jersey-based surgical and medical instrument maker posted profits of $24.2 million. That amounts to 29¢ per share on sales of $380.8 million for the three months ended March 31, 2023.

Integra posted a 26.4% bottom-line slide on sales growth of 1.1%. Codman specialty surgical segment sales grew by 0.3% while tissue techn…

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Integra stock dips despite Street-beating Q4

Integra LifeSciences (Nasdaq:IART) shares fell slightly today despite fourth-quarter results that topped the consensus forecast.

Shares of IART dipped 1.25% to $56 apiece in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 8.7%.

The Princeton, New Jersey-based surgical and medical instrument maker posted profits of $52.9 million. That amounts to 63¢ per share on sales of $398.022 million for the three months ended Dec. 31, 2022.

Integra recorded a 16.7% bottom-line gain on a sales decline of 1.8%.

Adjusted to exclude one-time items, earnings per share totaled 94¢. That landed 4¢ ahead of Wall Street. Revenues narrowly topped expectations as analysts projected sales of $397.95 million.

“We made key advances in strengthening our strategic path. We met our organic growth and exceeded our adjusted EPS guidance for the year. I am proud of our coll…

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Integra Lifesciences’ CFO is leaving for the soup business

Integra Lifesciences’ outgoing CFO Carrie Anderson [Image courtesy of Campbell Soup Co.]Integra Lifesciences CFO Carrie Anderson is leaving to take a job at another New Jersey–based company, but it’s not a medtech business.

Campbell Soup Co. announced today that Anderson will become its EVP and CFO, effective Feb. 6. She succeeds Mick Beekhuizen, who became president of the Camden, New Jersey–based company’s Meals & Beverages division in November 2022.

“Her collaborative approach combined with a track record of driving transformation, delivering results and developing strong finance teams will be invaluable as we continue to build momentum in the business,” Campbell Soup CEO Mark Clouse said in a news release.

Integra Lifesciences said in an SEC filing that Anderson notified the company on Jan. 25 that she would resign, effective Feb. 2, to pursue the new opportunity. It plans to start a search process for a new CFO.

In th…

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Integra LifeSciences completes Surgical Innovation Associates acquisition

Integra LifeSciences (Nasdaq:IART) announced today that it completed its acquisition of Surgical Innovation Associates (SIA).

Princeton, New Jersey-based Integra announced that it agreed to acquire SIA last week.

SIA develops, markets and sells the DuraSorb resorbable synthetic matrix for plastic and reconstruction surgery. Integra believes the acquisition advances its global strategy in breast reconstruction. The deal expands plans to access the U.S. market with FDA-approved devices for implant-based breast reconstruction (IBBR) procedures.

Integra expects the deal to close by the end of the year. It plans to purchase SIA for $50 million at closing. In addition, Integra could spend up to $90 million more upon the achievement of certain revenue and regulatory milestones.

“This acquisition is a highly strategic move to enable us to achieve our aspirations to become a global leader and innovator of IBBR procedures,” said Robert T. Davis, Jr., EVP an…

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Integra LifeSciences to acquire Surgical Innovation Associates

Integra LifeSciences (Nasdaq:IART) announced today that it entered into a definitive agreement to acquire Surgical Innovation Associates (SIA).

SIA develops, markets and sells the DuraSorb resorbable synthetic matrix for plastic and reconstruction surgery.

Princeton, New Jersey-based Integra said in a news release that the acquisition advances its global strategy in breast reconstruction. The deal expands plans to access the U.S. market with FDA-approved devices for use in implant-based breast reconstruction (IBBR) procedures.

Integra expects the deal to close by the end of the year. It plans to purchase SIA for $50 million at closing. Integra could spend up to an additional $90 million upon the achievement of certain revenue and regulatory milestones.

The transaction is not expected to materially impact Integra’s 2022 financial results. Integra expects a dilutive impact to adjusted earnings per share of approximately 6¢ in year one. It then…

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