Integra LifeSciences on Dec. 16 entered into a definitive agreement to acquire regenerative medicine company ACell.
Terms of the deal include $300 million in cash at closing and up to $100 million more in cash payments if certain revenue growth milestones are met.
ACell's MatriStem urinary bladder matrix system is designed to improve the body's ability to restore natural tissue and minimize scarring. It has applications for a range of challenges in wound repair.
The acquisition will expand Integra's Orthopedics and Tissue Technologies segment.
The OTT segment will rebrand as the Tissue Technologies segment after Integra completes the $240 million sale of its orthopedics business to Smith+Nephew, which is expected to close in January.
The ACell acquisition is expected to close in the first quarter of 2021.