Integra LifeSciences (NSDQ:IART) today said it entered into a definitive agreement to acquire ACell.
Through the deal, Integra LifeSciences will pay $300 million in cash upfront at closing, subject to customary purchase price adjustments with cash payments of up to an additional $100 million upon certain revenue growth milestones.
Columbia, Md.-based ACell currently develops The MatriStem UBM porcine urinary bladder matrix platform technology. The acquisition will help expand Integra Lifesciences orthopedics and tissue technologies business segment.
“ACell expands our regenerative capabilities and is complementary to Integra’s existing tissue technologies portfolio,” Integra president and CEO Peter Arduini said in a news release. “The porcine UBM technology is a strong strategic fit with our human amniotic tissue and bovine-derived engineered collagen and acellular dermal matrices. The acquisition also supports our long-term growth and profitability strategy with a financial profile similar to Integra’s tissue products.”
The deal is expected to close in the first quarter of 2021.
