Integra LifeSciences Holdings Corp., the Princeton-based medical technology company, has agreed to acquire ACell Inc., a regenerative medicine company, for $300 million in cash upfront, plus milestone payments that could reach another $100 million.
The definitive agreement would give Integra a product portfolio that includes a proprietary urinary bladder matrix platform technology, known as MatriStem UBM.
Integra is expanding its Orthopedics and Tissue Technologies segment, while selling off its orthopedics business and converting the unit to focus on tissue technologies. ACell had revenue of $100.8 million in 2019, 13% growth over 2018.
“ACell expands our regenerative capabilities and is complementary to Integra’s existing tissue technologies portfolio,” CEO and President Peter Arduini said in a prepared statement. “The porcine UBM technology is a strong strategic fit with our human amniotic tissue and bovine-derived engineered collagen and acellular dermal matrices.
“The acquisition also supports our long-term growth and profitability strategy with a financial profile similar to Integra’s tissue products.”
The deal is expected to close in the first quarter, pending customary approvals, conditions and purchase price adjustments.
Sullivan & Cromwell LLP is Integra’s legal adviser. Cooley LLP is ACell’s legal adviser, while Guggenheim Partners is its financial adviser.