PLAINSBORO, N.J.: Integra LifeSciences Holdings Corporation, a global leader in medical technology, announced that it has completed the previously announced acquisition of the Johnson & Johnson Codman Neurosurgery business for approximately $1.045 billion less customary adjustments, enhancing Integra’s position as a leading global provider of neurosurgical products.
“The addition of Codman Neurosurgery expands our global leadership position by creating one of the broadest medical device portfolios in the neurosurgery market,” said Peter Arduini, Integra’s president and chief executive officer. “Our planned investments in product innovation and global infrastructure will allow us to provide more healthcare solutions to surgeons and their patients worldwide.”
Integra expects it will complete the previously announced divestiture of certain neurosurgery assets, including Integra’s global Camino® ICP monitoring product line, the U.S. rights relating to Integra’s fixed pressure shunts, as well as U.S. rights to Codman’s DURAFORM®, standard EVD catheters and CSF collection systems, to Natus Medical in the coming days. The foregoing divestiture is being made as a result of regulatory reviews by the U.S. Federal Trade Commission and the National Markets and Competition Commission of Spain.
“The Codman acquisition is transformational to Integra and creates significant long-term growth opportunities for our entire company,” said Mr. Arduini. “We are excited to welcome our new colleagues from around the world into the Integra organization.”
Bank of America Merrill Lynch acted as exclusive financial advisor and Latham & Watkins LLP acted as legal advisor to Integra.