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Quarterly Review

3Q14 Revenue: Integra LifeSciences

$91.6MM, -7% (U.S. $78.6MM, -4%; ex-U.S. $12.9MM, -23%)

  • U.S. Extremities $36.7MM, +15%
  • U.S. Spine & Other $42.0MM, -11% (Spine -3%, Private Label +26%)

 

  • Strong growth from Total Foot System and shoulder launch, Premier contract signed in late 2Q
  • Shoulder particularly saw acceleration in 3Q; continuing to increase distribution into 2015
  • In mid-4Q, launched Shaped Strip and Pocket Strip 100% human allograft demineralized bone matrix implants

 

SeaSpine spin-off:

  • To create publicly-traded company focused on spine hardware and biologics
  • The new company has an estimated $140MM of trailing 12 month revenue as of end of 3Q (Orthobiologics/private ~$65MM)
  • Portfolio will include interbody devices, minimally invasive surgical solutions, deformity correction products and IsoTis orthobiogics such as DBM and synthetic matrices
  • Will support R&D, prototyping and training focused on spine-centric initiatives
  • Transaction expected to complete within 12 months
  • Integra’s remaining business areas will be Orthopaedic and Tissue Technologies (extremities, small bone and wound care, with private label) and Specialty Surgical Solutions (neurosurgery and instruments)