Integra LifeSciences (NSDQ:IART) agreed to acquire some of Tornier’s (NSDQ:TRNX) ankle and toe assets in the U.S., as the Dutch orthopedics company looks to satisfy anti-trust regulators about its pending, $3.3 billion merger with Wright Medical (NSDQ:WMGI).
The deal calls for Integra to acquire the U.S. rights to Tornier’s Salto Talaris and Salto XT ankle replacement devices and its Futura silastic toe replacement, for an undisclosed amount in cash.
The agreement also includes an option on the rights to the Salto Talaris, Salto XT, Salto Mobile and Futura silastic toe replacement devices outside the U.S.
“This acquisition broadens our extremity product portfolio by adding commercially available products,” Integra orthopedics & tissue technologies president Mark Augusti said in prepared remarks. “It allows us to diversify our lower extremity portfolio and accelerates our entry into the U.S. total ankle replacement segment of the foot and ankle market.”
“We are pleased with reaching this point in the divestiture process as well as with the quality of the buyer for these assets and to have completed this important step toward our pending merger with Wright,” added Tornier president & CEO David Mowry. “I want to thank Tornier employees involved in this transaction for their diligence and hard work.”
Integra said it doesn’t expect the deal to have a material impact on its earnings this year. The assets to be acquired put up sales of $15.5 million last year.
Shareholders of both Wright and Tornier in June approved the merger, which is expected to close by the end of the month.
In a separate release, Integra said it raised its credit facility to $1.1 billion.
