Integra to acquire total ankle, toe replacement products from Tornier

Integra LifeSciences announced a definitive agreement to acquire the domestic rights to multiple foot and ankle products from Tornier N.V.

Under the terms of the agreement, Tornier’s Salto Talaris and Salto XT ankle replacement products as well as Tornier’s Futura silastic toe replacement products will see their rights in the United Stated become property of Integra for an undisclosed cash payment. According to a company release, the agreement also gives Integra the option to purchase the rights to the Salto Talaris, Salto, Salto Mobile and Futura silastic toe replacement products outside the United States in the future.

Subject to approval from the Federal Trade Commission, the transaction is expected to be finalized after the closure of the merger between Tornier and Wright Medical Group. The merger is expected to be completed in the third quarter of this year.

“This acquisition broadens our extremity product portfolio by adding commercially available products,” Mark Augusti, president of Integra's orthopedics and tissue technologies business, stated in the release. “It allows us to diversify our lower extremity portfolio and accelerates our entry into the U.S. total ankle replacement segment of the foot and ankle market.”

“We are pleased with reaching this point in the divestiture process as well as with the quality of the buyer for these assets and to have completed this important step toward our pending merger with Wright,” David Mowry, president and chief executive officer of Tornier, stated in the release. “I want to thank Tornier employees involved in this transaction for their diligence and hard work,”

Reference: www.integralife.com