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…