Integra to Acquire Ascension Orthopedics for $65M
BY LAUREN UZDIENSKI, SEPTEMBER 12, 2011
Integra is expanding its extremity offering with plans to acquire Texas-based Ascension Orthopedics. Integra will buy the company for $65 million in cash, and in doing so, complement their lower extremity portfolio with new upper extremity and shoulder devices. Ascension represents Integra's first entry into the shoulder market.
Integra is also acquiring Ascension's pyrolytic carbon technology, marketed under the name PyroCarbon. The material is a specific form of carbon that the press release says consists of "specially-manufactured crystalline structures that give it excellent strength and wear characteristics." Ascension has data in support of PyroCarbon's "durability, wear resistance, and biocompatibility."
Once Ascension is integrated, the combined portfolio is expected to contribute 45% of Integra Orthopedics' revenues. Over the last 12 months, Integra Orthopedics has reported $300 million in sales. Ascension has recorded $19 million in revenue over the last 12 months and is expected to add $20 million to Integra's 2012 revenues.
