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Integra LifeSciences Holdings Corporation, recently announced that it has made a binding offer to acquire the Johnson & Johnson Codman Neurosurgery business for a price of $1.045 billion in cash. Codman Neurosurgery offers a portfolio of devices focused on advanced hydrocephalus, neuro-critical care and operative neurosurgery. If the binding offer is accepted, upon closing, Integra will be a leading global provider of neurosurgical products.
This acquisition can result in the following:
- Enhances global position in neurosurgery by adding a complementary product portfolio and the world-recognized Codman brand
- Builds relevant scale, accelerates international growth and expands the neurosurgery sales channel
- Accelerates Integra’s strategy to achieve aspirational targets of $2 billion in revenue and 30% adjusted* EBITDA margin
- Expands international footprint and commercial capabilities; approximately 52% of total revenue is outside the U.S.
- Generates shareholder value; transaction expected to be accretive to Integra’s adjusted* earnings per diluted share (“EPS”) by at least $0.22 in the first full year and increasing thereafter, and to GAAP EPS by the end of the third year
“This proposed transformational acquisition of Codman Neurosurgery creates compelling value for our shareholders, employees and patients,” said Peter Arduini, Integra’s president and chief executive officer. “Its innovative portfolio and global reach will enable us to enhance our position in the neurosurgery market, while also building a global infrastructure that will benefit Integra as a whole. We look forward to welcoming the more than 600 Codman Neurosurgery employees to the Integra team.”
Codman Neurosurgery’s existing portfolio and new product pipeline in advanced hydrocephalus, neuro-critical care and electrosurgery complement Integra’s leading products and pipeline in tissue ablation, dural repair and cranial stabilization. Together, this comprehensive portfolio will offer customers around the world complete solutions for neurosurgery and the scale to invest and bring new technologies to patients worldwide. The acquired products generated approximately $370 million in revenue during 2016 with an EBITDA* margin of about 31% (unaudited).
Codman Neurosurgery is a part of Depuy Synthes Companies of Johnson & Johnson.
For Further Information
More on the neurology market in the United States can be found in our report published by iData entitled U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Devices Market, which covers market segments for Cerebrospinal Fluid Management, Intracranial Pressure Monitoring Devices, Detachable Coils, Liquid Embolics, Neurovascular Catheters, Neurovascular Guidewires, Neurovascular Stents, Neuromodulation Devices, Neuroendoscopes, Stereotactics, Ultrasonic Aspirators, Aneurysm Clips, Intrathecal Pumps, and Neurosurgery Robotic Assisted Surgery Systems.
The iData series on the market for neurology devices covers the United States, China, India, Japan and 15 Countries in Europe. Full reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. Register online or email us at [email protected] for an U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Devices Market brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Dental Operatory Equipment, X-Ray Imaging, Vascular Access, Peripheral Vascular, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Diagnostic Imaging, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Oncology, Ultrasound, Laparoscopy, Urology, Gynecology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large and Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics and more.
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