Integra adds upper extremity strength with Ascension buy

Executive Summary

Integra LifeSciences has agreed to acquire Ascension Orthopedics for $65m in an all-cash deal that would add a "significant" upper extremity and shoulder portfolio to its existing lower extremity offering. Austin, Texas-based Ascension develops and distributes a range of implants for the shoulder, elbow, wrist, hand, foot and ankle. Its lower extremity products will enhance Integra's current line of foot and ankle devices, the company says. When combined, Ascension's products will account for approximately 45% of revenue generated by Integra's orthopaedics business segment, according to the companies.