Integra LifeSciences To Acquire Acclarent For $275 Mln Cash
(RTTNews) - Medical technology firm Integra LifeSciences Holdings Corp. (IART) announced Wednesday that it has entered into a definitive agreement to acquire Acclarent, Inc. from Ethicon, Inc., a Johnson & Johnson MedTech company, for $275 million in cash at closing. This is subject to customary purchase price adjustments, and an additional $5 million upon the achievement of certain regulatory milestones.
Irvine, California-based Acclarent is an innovator and market leader in ENT procedures and upon closing, Integra will be one of the leading providers of ENT products and technologies.
The Acclarent portfolio includes its groundbreaking balloon technologies for sinus dilation and eustachian tube dilation as well as surgical navigation systems.
Acclarent will become part of Integra's Codman Specialty Surgical (CSS) division.
Integra expects to provide detailed guidance regarding the financial impacts of this transaction upon closing.
The transaction, subject to customary closing conditions and regulatory approvals, is expected to close by the second quarter of 2024. Following the close, transition services, including transition manufacturing services, will be provided for up to four years.
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