Integra expands direct sales network into Canada with distributor buy:
This article was originally published in Clinica
Executive Summary
Integra Lifesciences has acquired its longstanding Canadian distributor, Canada Microsurgical, in a deal worth up to Can$8.5m (US$7.5m). The move expands Integra's direct sales coverage to eight countries: the Plainsboro, New Jersey company also sells its products, designed for use in neuro-, reconstructive and general surgery, directly to hospitals in the US, France, Germany, the UK and the Benelux countries. Under the terms of the acquisition agreement, Integra paid Can$6.4m for the Burlington, Ontario-based distributor at closing, and will pay an additional Can$2.1m over the next three years depending on sales performance. The transaction is expected to be neutral to Integra's 2006 earnings and accretive in 2007.