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Integra LifeSciences offers Johnson & Johnson $1 billion to acquire Codman Neurosurgery
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Integra LifeSciences Holdings Corporation announced it has placed a binding offer of $1.045 billion in cash to acquire the Codman Neurosurgery business, part of the DePuy Synthes Companies of Johnson & Johnson, according to a release. If the offer is accepted, upon closing, Integra would reportedly be a leading global provider of neurosurgical products.
Codman Neurosurgery provides devices that focus on hydrocephalus, neuro-critical care and operative neurosurgery which, according to the release, complement the tissue ablation, dural repair and cranial stabilization products and pipeline projects offered by Integra.
“This proposed transformational acquisition of Codman Neurosurgery creates compelling value for our shareholders, employees and patients,” Peter Arduini, the president and chief executive officer of Integra, said in the release. “Its innovative portfolio and global reach will enable us to enhance our position in the neurosurgery market, while also building a global infrastructure that will benefit Integra as a whole. We look forward to welcoming the more than 600 Codman Neurosurgery employees to the Integra team.”
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