US-based Integra LifeSciences has completed the acquisition of DuraSeal product lines from Covidien. With this acquisition, Integra LifeSciences will now offer surgeons the largest portfolio of dural repair solutions.
Integra US president neurosurgery division Robert Davis said the acquisition of the DuraSeal product line offers a great opportunity to drive company’s Neurosurgery growth strategy, aimed at providing a broader set of solutions for surgical procedures in the head.
"The Neurosurgery product portfolio will now have products in both dural grafting and the very different indication of dural sealing. DuraSeal is the first-to-market dural sealant approved for use in both the cranium and spine," Davis added.
The company will provide complete 2014 guidance, including the financial impact of this acquisition, on its 2013 full year financial results conference call on 25 February, 2014.
Integra president and CEO Peter Arduini said in addition to its strategic value, DuraSeal will add scale and increase profitability by every measure without introducing new complexity into company’s structure.
"We believe that it will create significant value for our customers, employees and shareholders alike," Arduini added.