Buyer: Integra LifeSciences Holdings Corporation
Seller: Johnson & Johnson
Sector: Medical Device
Integra LifeSciences Holdings Corporation (Plainsboro, NJ) announced that it has made a binding offer to acquire the Johnson & Johnson (New Brunswick, NJ) Codman Neurosurgery business for a price of $1.045 billion in cash. Codman Neurosurgery offers a portfolio of devices focused on advanced hydrocephalus, neuro-critical care, and operative neurosurgery. If the binding offer is accepted, upon closing, Integra will be a leading global provider of neurosurgical products. Codman Neurosurgery’s more than 600 employees will join the Integra team. Codman Neurosurgery’s existing portfolio and new product pipeline in advanced hydrocephalus, neuro-critical care and electrosurgery complement Integra’s leading products and pipeline in tissue ablation, dural repair and cranial stabilization. Together, this comprehensive portfolio will offer customers around the world complete solutions for neurosurgery and the scale to invest and bring new technologies to patients worldwide. The transaction is expected to close in two steps: first, in the approximately 24 principal countries during Q4 2017; and subsequently, in the remaining countries on a rolling basis.