Integra LifeSciences Announces Acquisition of Fleetwood Medical's Sparta Implants, Disposables and Instruments
PLAINSBORO, N.J., Feb. 3, 2004 (PRIMEZONE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that it has acquired the Sparta line of disposable critical care devices and surgical instruments from Fleetwood Medical, Inc. for approximately $1.5 million in cash. The Sparta line includes products used in plastic and reconstructive, ear, nose and throat (ENT), neuro, ophthalmic and general surgery. Prior to the acquisition, Fleetwood Medical marketed these product lines primarily to hospitals and physicians through a catalogue and a network of distributors.
"This acquisition provides us with a rich line of high-margin products that supplement those that we already sell into each of our key markets, including neurosurgery, plastic and reconstructive surgery, and general surgery," said Stuart M. Essig, Integra's President and Chief Executive Officer. "We plan to increase sales of the acquired products by offering certain of them through our neuro, plastic and reconstructive and JARIT sales forces. We will also sell the Sparta products through our direct marketing organization and the existing distributors."
The acquired business generated approximately $1 million in revenues for the twelve months ended December 31, 2003. Forward-looking information about this acquisition will be discussed on Integra's conference call following the release of our year-end earnings on February 27, 2004.
The Walden Group (Tarrytown, N.Y.) represented Fleetwood Medical in the transaction.
Integra LifeSciences Holdings Corporation is a diversified medical technology company that develops, manufactures, and markets medical devices for use in a variety of applications. The primary applications for our products are neuro-trauma and neurosurgery, plastic and reconstructive surgery and general surgery. Integra is a leader in applying the principles of biotechnology to medical devices that improve patients' quality of life. Our corporate headquarters are in Plainsboro, N.J., and we have manufacturing and research facilities located throughout the world. We have approximately 875 permanent employees. Please visit our website at (http://www.Integra-LS.com).
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning expectations for newly acquired businesses. The accuracy of such forward-looking statements is necessarily subject to risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. In addition, the economic, competitive, governmental, technological and other factors identified under the heading "Risk Factors" included in the Business section of Integra's Annual Report on Form 10-K for the year ended December 31, 2002 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results.
CONTACT: Integra LifeSciences Holdings Corporation
John B. Henneman, III
Executive Vice President
Chief Administrative Officer
(609) 936-2481
jhenneman@Integra-LS.com
Maria Platsis
Director of Corporate Development and
Investor Relations
(609) 936-2333
mplatsis@Integra-LS.com