Integra LifeScience Turns 25: 5 Things to Know

Written by Laura Dyrda | June 19, 2014 | Print  |

Integra LifeScience marks its 25th anniversary in June 2014.

The company was formed by Richard Caruso, PhD, a member of Integra's Board of Directors. The company was established with a vision to use regenerative products to help heal and regenerate tissue. Here are five key facts about Integra LifeScience:

 

1. The company received its first FDA approval in 1996 for the Integra Dermal Regeneration Template, which is a collagen matrix designed as a skin replacement system for victims of third-degree burns. Most recently, the company received FDA clearance for the Camino Flex Ventricular Catheter for use with MRI scans.

 

2. Integra's line includes applications from burn repair and deep tissue wounds to dura mater repair in the brain, nerve and tendon. Over the past 25 years, the company has grown by acquiring businesses in markets that overlap with the core regenerative medicine technology customer base and developing products to meet the needs of target customers.

 

"Integra is now a leading medical technology company involved in a wide variety of complementary businesses, and well on its way to becoming a multi-billion dollar global organization," said President and CEO Peter Arduini in a news release. "We're grateful for the many colleagues and customers who have contributed to our success and this incredible accomplishment of the last 25 years, and look forward to making a difference in patients' lives for many years to come."

 

The company also includes innovative solutions in neurosurgery, orthopedics and surgical instruments.

 

3. Integra has more than 3,000 employees and thousands of products reaching millions of patients worldwide. Several new top leadership positions have been appointed over the past year. Kenneth Burhop, PhD, became corporate vice president and chief scientific officer; Mark Augusti became corporate vice president, president, orthopedics and tissue technologies; Glenn G. Coleman became corporate vice president and CFO; and Donald E. Morel Jr., PhD, became director.

 

4. In the first quarter of 2014, the company reported a significant increase in revenue to $215.1 million. The company changed its accounting policy in the first quarter for the medical device excise tax to immediately record the expense in selling general and administrative expenses rather than recording it in inventory and subsequently amoritizing cost of sales.

 

The company generated $11.3 million in cash flows from operations and invested $11.3 million in capital expenditures during the quarter. The company's United States neurosurgery revenue was up 39 percent to $54.3 million; the "spine and other" business dropped 6 percent to $41 million.

 

5. The company continues to expect full year 2014 revenues to fall between $920 million and $940 million. Earlier this month, the company announced a group purchasing contract with Premier to offer small bone orthopedic implants to Premier alliance members. "This mutually beneficial agreement marks a significant opportunity for both our organizations, and reflects our commitment to provide Premier members with the highest quality products and services for upper and lower extremity patients," said Mr. Augusti in a news release.

 

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