Integra LifeSciences to Acquire Total Ankle Replacement and Silastic Toe Replacement Product Portfolios from Tornier N.V.; Amount of Cash Payment Not Disclosed
Integra LifeSciences Holdings Corporation (NASDAQ: IART) and Tornier N.V. (NASDAQ: TRNX), today announced a definitive agreement under which Integra will acquire the United States rights to Tornier's Salto Talaris and Salto XT ankle replacement products and Tornier's Futura silastic toe replacement products, for an undisclosed cash payment. The agreement also includes an option to purchase, in the future, the rights to the Salto Talaris, Salto XT, Salto Mobile, and Futura silastic toe replacement products outside the United States.
The transaction is subject to approval by the United States Federal Trade Commission (FTC) and the closure of the pending merger of Tornier and Wright Medical Group, Inc. which, pending FTC clearance is expected to occur in the third quarter of 2015.
"This acquisition broadens our extremity product portfolio by adding commercially available products," said Mark Augusti, President of Integra's Orthopedics and Tissue Technologies business. "It allows us to diversify our lower extremity portfolio and accelerates our entry into the U.S. total ankle replacement segment of the foot and ankle market."
"We are pleased with reaching this point in the divestiture process as well as with the quality of the buyer for these