Integra LifeSciences has signed a definitive agreement to buy Surgical Innovation Associates (SIA), a spin-out from Northwestern University, Illinois, US.
Under the deal terms, Integra will pay $50m at the closing of the deal, as well as up to $90m more upon achieving certain revenue and regulatory milestones.
SIA develops advanced solutions for reconstructive and aesthetic surgery to improve the experience of both surgeons and patients.
The company develops, markets and sells the DuraSorb resorbable synthetic matrix for plastic and reconstruction surgery.
DuraSorb is a completely-resorbable knitted mesh that has been designed to address the limitations of current soft tissue support products in reconstructive and aesthetic surgery.
Integra LifeSciences expects the deal to advance its global strategy in breast reconstruction.
It will also support the company’s plans to enter the US market with Food and Drug Administration (FDA)-approved devices that are designed for use in implant-based breast reconstruction (IBBR) procedures.
The addition of DuraSorb will strengthen the plastic and reconstructive surgery portfolio at Integra, which currently includes the SurgiMend PRS xenograft surgical matrix.
Integra LifeSciences Tissue Technologies executive vice-president and president Robert Davis said: “The global breast reconstruction market represents an attractive growth opportunity for our surgical reconstruction business.
“By offering two distinct product solutions, SurgiMend and DuraSorb, to plastic and reconstructive surgeons, we aim to address various clinical, contracting and economic needs across different sites of care.”
The company is said to be the first and only manufacturer to apply for premarket approval (PMA) for a surgical matrix designed for use as soft tissue support in IBBR.
In the US, SIA is currently conducting an investigational device exemption study to assess DuraSorb’s safety and effectiveness for a PMA in IBBR.
Subject to the satisfaction of customary conditions, the transaction is anticipated to be completed by the end of the year.