Integra LifeSciences to acquire SIA in deal worth up to $140M
Integra LifeSciences Holding Corporation, a global medical technology company, has agreed to acquire Surgical Innovation Associates (SIA), which is known as the manufacturer of monofilament mesh for plastic and reconstructive surgery. The deal is valued up to $140 million.
Integra will purchase SIA for $50 million up front, and up to $90 million if certain revenue and regulatory milestones are met. SIA makes and sells DuraSorb, a surgical mesh which launched commercially in 2020. The product has reported an 80%-100% annual revenue growth since launching, and the acquisition will facilitate DuraSorb’s continued adoption in the United States, according to a press release.
Integra’s plastic and reconstructive surgery portfolio includes SurgiMend PRS, a xenograft surgical matrix. Integra is the only company so far to submit a premarket approval to the Food and Drug Administration (FDA) for use in implant-based breast reconstruction (IBBR) for mastectomy. Currently there are no surgical matrices approved for use in IBBR for mastectomy. SIA is also pursuing a PMA for that indication for DuraSorb.
“We are excited to work with Integra and contribute our resorbable synthetic technology to its strong soft tissue reconstruction capabilities, with a view to providing surgeons with greater access to FDA-approved devices to support breast reconstruction,” Josh Vose, MD, CEO of SIA, said in a statement. “Integra’s global reach and commercial strength will help enable us to achieve our joint mission to improve outcomes in women’s health.”
Vose will continue in his leadership role as part of Integra, as will Todd Cruikshank, co-founder and COO, and Jason Oh’Hearn, chief commercial officer.
“The global breast reconstruction market represents an attractive growth opportunity for our surgical reconstruction business,” Robert T. Davis, Jr., executive vice president and president, Tissue Technologies, Integra LifeSciences, said in a statement. “By offering two distinct product solutions, DuraSorb and SurgiMend, to plastic and reconstructive surgeons, we aim to address various clinical, contracting, and economic needs across different sites of care.”
The transaction is expected to close by the end of the year, subject to customary conditions.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."