Integra Life-Sciences IART announced its acquisition of privately-held SeaSpine for $89M cash, “which effectively doubles the company's distribution capacity and revenue base in the U.S. spinal hardware market,” Jefferies reports.
“SeaSpine generated ~$50M in 2010 revenues and at 1.8x trailing sales, valuation seems entirely reasonable,” Jefferies writes. “The deal is the first by IART since September 2009 and the company has commented that its pipeline for deals is as full as it has ever been.”
Integra Life-Sciences closed Tuesday at $50.57.
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