Integra Expands Wound Care Infrastructure With TEI Buy
This article was originally published in The Gray Sheet
With its acquisition of TEI Biosciences, Integra expands its wound management portfolio and sales channels in advances of its planned diabetic foot ulcer product in 2016. The deal, along with the July 1-completed spin out of SeaSpine, fits with Integra's strategy to achieve high single-digit growth.
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At $1.8 billion, Q2 device financing nearly doubled the Q1 total, mainly from an increase in IPOs and early VC rounds, and acquisitions were slightly higher at $4.7 billion. Diagnostics funding also increased to $784 million from Q1's $597 million, and Danaher's monster $13.8 billion buy of life sciences company Pall headlined the second quarter's $15.6 billion total in diagnostics M&A activity.
The company's spine business will be established as an independent company, SeaSpine, within the year to improve growth prospects for all of Integra's businesses, officials say. Analysts say it will give Integra a slight boost but worry a spin-off is riskier than selling the division.