M&A
confidence high
sentiment positive
materiality 0.75
Integra to acquire SIA for up to $140M; plans $150M share buyback
INTEGRA LIFESCIENCES HOLDINGS CORP
- Integra buys SIA for $50M at closing plus up to $90M in milestones; deal expected to close by end of 2022.
- SIA 2022E revenue ~$5M; gross margin >75%. Acquisition dilutive ~$0.06 in Year 1, accretive in Year 3.
- ROIC expected to exceed 10% by Year 5 (2027).
- Plans $150M share repurchase starting early 2023 to largely offset Year 1 dilution.
- No FDA-approved surgical matrices for IBBR; Integra's SurgiMend PMA under review, DuraSorb IDE ~70% enrolled.