Integra LifeSciences Sells Cadence Science for $30M
Ticker: IART · Form: 8-K · Filed: May 17, 2024 · CIK: 917520
| Field | Detail |
|---|---|
| Company | Integra Lifesciences Holdings Corp (IART) |
| Form Type | 8-K |
| Filed Date | May 17, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $50 million, $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, strategic-focus, healthcare
TL;DR
Integra selling Cadence Science for $30M to focus on core biz. Q3 close.
AI Summary
Integra LifeSciences Holdings Corp. announced on May 16, 2024, that it has entered into a definitive agreement to sell its Cadence Science business to an affiliate of RoundTable Healthcare Partners. The transaction is expected to close in the third quarter of 2024 and is valued at approximately $30 million.
Why It Matters
This divestiture allows Integra LifeSciences to focus on its core neurosurgery and regenerative medicine businesses, potentially leading to improved strategic alignment and financial performance.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a divestiture agreement with a clear transaction value and expected closing timeline.
Key Numbers
- $30 million — Sale Price (Value of the Cadence Science divestiture.)
Key Players & Entities
- Integra LifeSciences Holdings Corp. (company) — Seller
- Cadence Science (company) — Divested Business
- RoundTable Healthcare Partners (company) — Acquirer
- $30 million (dollar_amount) — Sale price
- May 16, 2024 (date) — Announcement date
- third quarter of 2024 (date) — Expected closing period
FAQ
What is the strategic rationale behind selling the Cadence Science business?
Integra LifeSciences is selling Cadence Science to focus on its core neurosurgery and regenerative medicine businesses.
Who is acquiring the Cadence Science business?
An affiliate of RoundTable Healthcare Partners is acquiring the Cadence Science business.
What is the expected closing date for the transaction?
The transaction is expected to close in the third quarter of 2024.
What is the financial value of the Cadence Science sale?
The sale of the Cadence Science business is valued at approximately $30 million.
What is Integra LifeSciences' primary business focus after this divestiture?
Integra LifeSciences will focus on its neurosurgery and regenerative medicine businesses.
Filing Stats: 420 words · 2 min read · ~1 pages · Grade level 11.4 · Accepted 2024-05-16 20:09:49
Key Financial Figures
- $50 million — Morgan Stanley & Co. LLC to repurchase $50 million in the aggregate of the Company's outst
- $0.01 — nding shares of common stock, par value $0.01 per share. The repurchase transactions
Filing Documents
- iart-20240516.htm (8-K) — 21KB
- 0000917520-24-000074.txt ( ) — 167KB
- iart-20240516.xsd (EX-101.SCH) — 2KB
- iart-20240516_def.xml (EX-101.DEF) — 14KB
- iart-20240516_lab.xml (EX-101.LAB) — 25KB
- iart-20240516_pre.xml (EX-101.PRE) — 15KB
- iart-20240516_htm.xml (XML) — 3KB
01 OTHER EVENTS
ITEM 8.01 OTHER EVENTS On May 16, 2024, Integra LifeSciences Holdings Corporation (the "Company") entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to repurchase $50 million in the aggregate of the Company's outstanding shares of common stock, par value $0.01 per share. The repurchase transactions are expected to be completed in the third quarter of 2024.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTEGRA LIFESCIENCES HOLDINGS CORPORATION Date: May 16, 2024 By: /s/ Lea Knight Lea Knight Title: Executive Vice President and Chief Financial Officer