Integra LifeSciences is gaining a new minimally invasive platform for neurosurgery through its acquisition of Rebound Therapeutics. The Plainsboro, NJ-based company did not disclose the financial terms of the deal.
Rebound Therapeutics develops single-use medical devices that enable minimally invasive access, using optics and illumination, for visualization, diagnostic, and therapeutic use in neurosurgery.
“The acquisition of Rebound Therapeutics reflects Integra’s ongoing commitment to developing innovative products to address unmet needs in neurosurgery,” Dan Reuvers, corporate VP and president of Integra LifeSciences’ Codman Specialty Surgical division said in a release. “Rebound’s MIS technological platform is a natural addition to our portfolio of neurosurgical products and will expand our therapeutic-focused offerings. We are eager to further develop Rebound’s cutting-edge MIS technologies to help surgeons improve the standard of care for neurosurgery patients.”
Integra dipping its feet into the M&A waters shouldn’t come as a surprise. During a July earnings call, Glenn Coleman, Corporate VP, and COO, of Integra indicated that acquisitions could be on the horizon.
“We maintain a strong and flexible balance sheet with cash and cash equivalents of $176 million and capacity on our revolver of about $1 billion to support potential future tuck-in acquisitions,” Coleman said during the company’s most recent earnings call, according to a transcript from Seeking Alpha.
Before the Rebound deal, Integra tested the M&A waters when it put up $1.05 billion to acquire Codman, Johnson & Johnson’s neurosurgery business.
Integra’s President and CEO, Peter Arduini said … “part of what our strategy is, is to look for Codman-ish deals, according to a Seeking Alpha Transcript of a call. “The majority of our focus is really on tuck-ins and the area that we are looking at is really how we find key components that continue to build this relevant scale point.
Arduini added, “We want to be - even though we may not be as large as some of our biggest competitors, we want to be very large in those segments we compete. So think about us planning into and buying technologies as well as operating companies to help build out that portfolio that actually then brings a better answer to a productivity solution for the customer and therapeutic.”