Integra LifeSciences acquires NeuroSupplies

Plainsboro, NJ-based Integra LifeSciences (Nasdaq: IART) has acquired $4 million Waterford, CT-based neurology and pulmonology supplier NeuroSupplies for $400,000 in cash paid at closing, a $3.6 million note payable in January 2002, and 10,000 shares of unregistered Integra common stock.

NeuroSupplies mails once a year to 9,000 customers and will continue in its Connecticut facility. Earnings before interest, taxes, depreciation, and amortization (EBITDA) totaled about $500,000 last year and $625,000 for the nine months ended Sept. 30.

Integra NeuroSupplies, as the new company will be called, expects to increase its outbound marketing efforts and leverage the field sales force presence of Integra NeuroSciences to keep its catalog in front of potential customers. Integra has a 70-person direct selling staff in the U.S. and Europe.

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