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Integra Acquires Surgical Innovation Associates for $50M to Lead Growing Breast Reconstruction Niche

Integra Acquires Surgical Innovation Associates for $50M to Lead Growing Breast Reconstruction Niche

 


Listen to article 3 minutes This audio is auto-generated. Please let us know if you have any feedback. Dive Brief: Integra LifeSciences plans to acquire Surgical Innovation Associates for $50 million up front to build a leading position in the changing breast reconstruction business. Over the next few years, Integra expects SurgiMend PRS and Surgical Innovations DuraSorb to be her first two implant-based breast reconstruction (IBBR) surgical matrices to receive premarket approval. Surgical Innovation develops synthetic matrices, while Integras SurgiMend is a xenograft using bovine tissue. While human-derived surgical matrices currently dominate the market, Interga believes synthetic and xenograft devices will dominate and seeks to establish leadership in the niche. Dive Insight:

Integra faltered late last year when the Food and Drug Administration’s advisory panel voted against approval of SurgiMend. The company continues its efforts to bring the device to market, with a target of mid-2023 amendment submission and approval in his 2024 subspectral IBBR.

With that timeline, Integra will be the first company to receive premarket approval for its IBBR surgical matrix. Surgical Innovation is enrolling patients in the U.S. Soft Tissue Support IBBR trial in hopes of becoming his second company to receive approval for subthoracic and precordial IBBR in 2025 or 2026.

According to Integra, absorbable synthetic mesh and xenograft products accounted for 5% of US breast reconstruction volume last year. The product is a small fraction of the market, valued at $600 million worldwide by Integra, but the company faces challenges such as hospitals moving to ambulatory care, size limitations, inconsistent quality and supply of human matrices, and U.S. regulations are disrupting the sector.

The global breast reconstruction market represents an attractive growth opportunity for our surgical reconstruction business. By offering two different product solutions, SurgiMend and DuraSorb, to plastic and reconstructive surgeons, the Integras organization aims to address different clinical, contractual and financial needs across different medical settings. President of Technology Robert Davis Jr. said in a statement. .

The deal includes milestone payments of up to $90 million. Integra expects a return on invested capital of over 10% by 2027, reflecting his belief that SurgiMend and DuraSorb will present a $200 million annual sales opportunity by 2030.

Integra said it aims to offset the impact of the acquisition on earnings with a share buyback program of up to $150 million next year.

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