Medical technology leader Integra LifeSciences Holdings Corp. has completed its $1.045 billion acquisition of Codman Neurosurgery from Johnson & Johnson.
“The addition of Codman Neurosurgery expands our global leadership position by creating one of the broadest medical device portfolios in the neurosurgery market,” said Peter Arduini, CEO and president of Integra, based in Plainsboro. “Our planned investments in product innovation and global infrastructure will allow us to provide more health care solutions to surgeons and their patients worldwide.”
Integra expects in the coming days it will complete the divestiture of certain neurosurgery assets, including its global Camino ICP monitoring product line, the U.S. rights relating to its fixed-pressure shunts, as well as U.S. rights to Codman’s DURAFORM, standard EVD catheters and CSF collection systems. They will go to Natus Medical.
The divestitures are the result of regulatory reviews by the U.S. Federal Trade Commission and the National Markets and Competition Commission of Spain.
“The Codman acquisition is transformational to Integra and creates significant long-term growth opportunities for our entire company,” Arduini said “We are excited to welcome our new colleagues from around the world into the Integra organization.”
The Codman Neurosurgery business offers a portfolio of devices focused on hydrocephalus management, neuro intensive care and cranial surgery, and generated net revenue of approximately $371.5 million in 2016.
In a statement, New Brunswick-based Johnson & Johnson said it remains dedicated to ischemic and hemorrhagic stroke treatment through its newly launched Johnson & Johnson Medical Devices Cos. platform, CERENOVUS.
The CERENOVUS product portfolio was expanded by the recent acquisitions of Pulsar Vascular Inc., with a specialty in the endovascular treatment of wide-neck bifurcated aneurysms, and Neuravi Ltd., offering extensive expertise and knowledge in acute ischemic stroke with its EmboTrap Revascularization Platform.
