Integra LifeSciences Holdings Corporation recently announced it has completed the acquisition of all of the outstanding shares of TEI Biosciences and TEI Medical. The acquisition accelerates Integra’s entry into the diabetic foot ulcer market, specifically wound and tissue repair, according to a press release.
“We are enthusiastic about the strategic fit of these two organizations and the positive impact TEI has on both top- and bottom-line metrics,” Peter Arduini, Integra’s president and CEO, said in the release. “With this acquisition, we have a significant opportunity to build our platform and fuel a robust pipeline of regenerative products to accelerate Integra’s overall growth.”
Mark Augusti, Integra’s corporate vice president and president of the Orthopedics and Tissue Technologies Department, added, “The combined organization will offer surgeons a leading regenerative technology platform for indications in soft-tissue reconstruction and wound repair. In addition to TEI’s complementary call points in the wound care clinic and operating room, TEI’s products provide surgeons with different strength and handling characteristics.”
Integra announced the acquisition on June 28. The company will provide more information on the acquisition during its second quarter 2015 financial results conference call, scheduled for July 30, according to the release.