PLAINSBORO, N.J., Jan. 14, 2004 (PRIMEZONE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that JARIT Surgical Instruments has acquired the R&B instrument line from R&B Surgical Solutions, LLC for approximately $2.0 million in cash. The R&B instrument line is a complete line of high-quality handheld surgical instruments used in neuro- and spinal surgery.
"This acquisition is consistent with our corporate strategy of building on our core competency of hand-held surgical instruments by expanding our specialty instrument line with unique premium instrument patterns," said Rob Rogowski, President of JARIT. "In particular, the R&B line broadens our spinal surgery specialty line, providing JARIT with a top-of-the-line spinal offering of over 1,700 products and an established customer base."
JARIT sells products in the United States through a twenty-person sales management force that works with over 100 distributor sales representatives as well as certain OEM accounts. JARIT plans to distribute the R&B line through a network of independent dealer-distributors.
The acquired business generated approximately $1.2 million in revenues for the twelve months ended December 31, 2003. This acquisition is expected to be neutral to Integra's earnings for 2004 and accretive thereafter. Additional forward-looking information about this acquisition will be discussed on Integra's conference call following the release of our 2003 earnings on February 27, 2004.
JARIT Surgical Instruments is a leading provider of high quality reusable surgical instruments for general and minimally invasive surgery. Acquired by Integra in March 2003, JARIT provides its customers with quality, innovation and integrity in surgical instrumentation and offers its customers the highest fill-rates in the industry.
Integra LifeSciences Holdings Corporation is a diversified medical technology company that develops, manufactures, and markets medical devices for use in a variety of applications. The primary applications for our products are neuro-trauma and neurosurgery, plastic and reconstructive surgery and general surgery. Integra is a leader in applying the principles of biotechnology to medical devices that improve patients' quality of life. JARIT Surgical Instruments is a wholly-owned subsidiary of Integra.
Integra's corporate headquarters are in Plainsboro, New Jersey, and it has manufacturing and research facilities located throughout the world. Integra has approximately 875 permanent employees. Please visit Integra's website at (http://www.Integra-LS.com).
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements concerning expectations for this newly acquired business and the expected impact of this acquisition on Integra's future financial results. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted or expected results. Among other things, Integra's ability to successfully integrate the R&B instrument line into its operations could affect the impact of this acquisition on Integra's future financial results. In addition, the economic, competitive, governmental, technological and other factors identified under the heading "Risk Factors" included in the Business section of Integra's Annual Report on Form 10-K for the year ended December 31, 2002 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results.