Tornier Sells Ankle Assets to Enable Wright Medical merger

Integra LifeSciences has agreed to acquire some of Tornier’s ankle and toe assets in the U.S., as the Dutch orthopedics company looks to satisfy anti-trust regulators about its pending, $3.3 billion merger with Wright Medical.

Background

The merger of Wright Medical and Tornier was always likely to provoke the anti-trust legislators into action, such was the cross-over between the companies’ extremity ranges. Now, getting on for a year after the merger was announced, Integra will acquire the U.S. rights to Tornier’s Salto Talaris and Salto XT ankle replacement devices and its Futura silastic toe replacement, for an undisclosed amount in cash. The products in question racked up $15.5million in sales last year.

The agreement also includes an option on the rights to the Salto Talaris, Salto XT, Salto Mobile and Futura silastic toe replacement devices outside the U.S.

The merger is now expected to close by the end of the month.

Company comments

for Integra

“This acquisition broadens our extremity product portfolio by adding commercially available products,” Integra orthopedics & tissue technologies president Mark Augusti said in prepared remarks. “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.”

for Tornier

“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,” added Tornier president & CEO David Mowry. “I want to thank Tornier employees involved in this transaction for their diligence and hard work.”

Source: Globe Newswire

Share your thoughts

Your email address will not be published. Required fields are marked *