More companies are rushing to get in acquisitions before 2022 ends.
Integra Lifesciences fired up the M&A engines by announcing it would acquire Surgical Innovation Associates (SIA), in a deal valued up to $140 million.
Chicago-based SIA manufactures DuraSorb, an absorbable monofilament mesh for plastic and reconstructive surgery, which launched commercially in 2020. The deal, which is expected to close by the end of the year, would help Integra accelerate market entry for plastic and reconstructive surgical devices.
Recall in 2021, an FDA panel on general and plastic surgery recently shot down the Princeton, NJ-based company’s SurgiMend mesh for the specific indication of breast reconstruction, even though the device has been used in breast reconstruction for more than a decade under a 510(k) clearance.
Integra said there are no surgical matrices approved by FDA specifically for use in implant-based breast reconstruction (IBBR) for mastectomy patients.
SIA is pursuing a goal of obtaining a PMA for IBBR for mastectomy patients and has achieved more than 70% enrollment in its clinical evaluation of DuraSorb in IBBR, under an IDE.
“The global breast reconstruction market represents an attractive growth opportunity for our surgical reconstruction business,” said Robert Davis, Jr., Executive Vice President and President, Tissue Technologies, Integra LifeSciences. “By offering two distinct product solutions, DuraSorb and SurgiMend, to plastic and reconstructive surgeons, we aim to address various clinical, contracting, and economic needs across different sites of care. We look forward to welcoming the SIA leadership and colleagues who will continue to drive the team’s success.”
Tis’ the season for last minute M&A
Johnson & Johnson kicked off the “buying” season when it announced it would acquire Abiomed, a company that specializes in mechanical circulatory support for $16.6 billion.
And earlier this week, Boston Scientific warmed up the bariatric space by agreeing to acquire Apollo Endosurgery for $615 million.