Integra LifeSciences to Acquire Medtronic’s MicroFrance and Xomed Manual ENT and Laparoscopy Instrumentation Lines

September 17, 2014 –¬†Source: Integra

PLAINSBORO, N.J., Sept. 17, 2014 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (Nasdaq:IART) and Medtronic, Inc. today announced an agreement in which Integra will acquire Medtronic’s MicroFrance and Xomed manual ENT and laparoscopy instrumentation lines for approximately $60 million in cash. Integra expects the transaction to close, subject to customary closing requirements, in the fourth quarter of 2014.

The MicroFrance business, which includes Xomed’s manual ENT instruments, designs, manufactures and sells reusable handheld instruments to ear, nose and throat (“ENT”) and laparoscopy surgical specialists. Under the terms of the agreement, Integra will acquire a portfolio of approximately 4,000 MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as the St. Aubin le Monial, France manufacturing facility. Integra plans to fund this transaction with cash held outside the U.S.

“This announcement reflects Integra’s continuing commitment to building our Instruments business. The transaction provides access to R&D, service & repair and other infrastructure already in place in St. Aubin le Monial, France, which will improve our ability to service our current portfolio and to develop new products,” said Debbie Leonetti, Integra’s CVP, President, U.S. Instruments. “These products also align nicely with our current sales channels as well as adjacent divisions, particularly our Neurosurgery business.”

The addition of the MicroFrance business will expand Integra’s Instruments presence outside the US. In the most recent annual reporting period, sales from the products being acquired totaled approximately $30 million, two-thirds of which were generated outside the U.S.

“We are excited about adding the MicroFrance business, which advances our strategic objectives in both our Instruments and International businesses while meeting our profitability and return goals,” said Glenn Coleman, Integra’s Chief Financial Officer.

Integra expects to record approximately $27 million to $30 million in revenue and approximately 10 cents of adjusted EPS in calendar 2015 from this acquisition. The earnings accretion should rise after the first year once certain sales transitions are complete. The Company expects the acquisition to contribute less than $5 million in revenue and be neutral to earnings in the fourth quarter of 2014. The transition and integration is expected to be completed by the second half of 2015.

About Integra

Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedic extremity surgery, neurosurgery, spine surgery, and reconstructive and general surgery. For more information, please visit

CONTACT: Integra LifeSciences Holdings Corporation

         Angela Steinway
         (609) 936-2268

         Gianna Sabella
         (609) 936-2389

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