Integra LifeSciences (Nasdaq: IART) has completed its previously announced $1.045 billion purchase of Johnson & Johnson’s Codman Neurosurgery business, the companies announced today.
“The addition of Codman Neurosurgery expands our global leadership position by creating one of the broadest medical device portfolios in the neurosurgery market,” Peter Arduini, Integra’s president and CEO, said in a news release.
“Our planned investments in product innovation and global infrastructure will allow us to provide more healthcare solutions to surgeons and their patients worldwide,” Arduini said.
Integra in coming days will complete a previously announced $48 million divestiture of certain neurosurgery assets to Natus Medical (Nasdaq: BABY) that it needed to make to in order for the Codman buy to pass muster with the U.S. Federal Trade Commission and the National Markets and Competition Commission of Spain. The divestiture includes Integra’s global Camino ICP monitoring product line, U.S. rights relating to Integra’s fixed pressure shunts, and U.S. rights to Codman’s Duraform, standard EVD catheters and CSF collection systems.
“The Codman acquisition is transformational to Integra and creates significant long-term growth opportunities for our entire company,” Arduini said.
Johnson & Johnson (NYSE: JNJ) meanwhile said it remains dedicated to ischemic and hemorrhagic stroke treatment through its newly launched Cerenovus platform.
