Integra LifeSciences Announces Changes Within Its Orthopedics And Tissue Technologies Business

Integra LifeSciences Holdings Corporation (Nasdaq: IART) today announced that it has made changes to the leadership of its Orthopedics and Tissue Technologies business. The new organization enables Integra to use its resources more efficiently in order to better invest in new products and other growth initiatives. The division is now structured to maximize Integra's existing channels, build new ones and launch new products more effectively.Mark Augusti, CVP, President of Orthopedics and Tissue Technologies for Integra appointed leaders reporting to him for the following areas: Marketing for the division and strategy for Advanced Wound Care, Orthopedics Product Development, Quality and Regulatory, U.S. Extremities Sales, and U.S. Spine and Orthobiologic Sales. "This new combined organization will allow us to deploy our best people across our product development teams, enable common approaches in areas such as marketing, product launches, sourcing and kitting, and provide new organic growth opportunities," said Mr. Augusti."After 11years of running Integra Spine's product development efforts, I am excited to work with Mark on integrating and enhancing our product development efforts across orthopedic hardware," said Colin Smith, VP, Global Hardware Product Development. "We have an opportunity within our pipeline to develop products that allow our sales force to better address the needs of their surgeons with differentiated technology platforms such as PyroCarbon and NanoMetalene®.""While the combination simplifies and streamlines the structure internally, we remain committed to our dedicated and distinct selling organizations for Extremities and Spine to best reach our customers," Mr. Augusti added.Over the near term, expense reductions from the new organization will be invested in growth, including new product development and sales efforts in Advanced Wound Care, Extremities and Spine. As a result, Integra is not making any changes to its financial guidance for 2014.