Integra acquires Northwestern surgical spinoff for $140M

Integra LifeSciences will pay as much as $140 million to acquire Surgical Innovation Associates, a spinoff company of Evanston, Ill.-based Northwestern University.

Founded in 2016, Surgical Innovation Associates manufactures an absorbable mesh for plastic and reconstructive surgery, focusing on implant-based breast reconstruction for mastectomy patients.

"Integra's global reach and commercial strength will help enable us to achieve our joint mission to improve outcomes in women's health," said Josh Vose, MD, CEO of Surgical Innovation Associates, in a Dec. 1 company news release.

Integra will pay $50 million at closing and up to $90 million more depending on certain revenue and regulatory achievements.

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