Integra LifeSciences has agreed to acquire tissue regeneration firm Derma Sciences for around $204m.
Under the deal, Integra will purchase Derma’s common stock by paying $7.00 per share, representing a 40% premium to its share price on 10 January.
As per terms of the agreement, a subsidiary of Integra LifeSciences will begin a cash tender offer to purchase all of the outstanding shares of the capital stock of Derma Sciences.
Derma Sciences is engaged in the development and commercialization of novel regenerative products derived from placental or birth tissues.
These products will be used for the treatment of complex chronic wounds, acute wounds and localized areas of injury or inflammation, as well as filling soft tissue defects or voids.
The company markets TCC-EZ total contact casting system to treat diabetic foot ulcers, as well as Medihoney dressings for the management of wounds and burns.
In addition, the firm produces Xtrasorb to manage wound exudates and Bioguard for barrier protection against microbes and other contaminants.
Subject to customary closing conditions, the deal is expected to complete in the first quarter of this year.
Derma Sciences interim principal executive officer and executive chairman Stephen Wills said: “Along with the rest of our Board of Directors, I am pleased that Integra LifeSciences, a global leader in medical technologies, has recognized the tremendous assets created by the Derma Sciences’ team.
“Our portfolio of advanced wound care and regenerative tissue products and demonstrated growth potential enabled us to finalize this transaction and provide substantial and certain value to our shareholders.”