Integra announced an agreement to acquire Theken Spine
|Friday, 25 July 2008|
Integra LifeSciences Holdings Corporation announced it has agreed to acquire Theken Spine, LLC, Theken Disc, LLC and Therics. Transaction offers a number of potential strategic benefits to Integra: A unique and comprehensive portfolio of spinal implant products. A robust technology pipeline and demonstrated R&D capacity, an established network of spinal hardware distributors with stablished access to the orthopedic spine market
Theken Spine, designs, develops, manufactures and distributes a full range of spinal fixation products. The company specializes in pioneering spinal implant technologies that seek to improve spinal surgical techniques, thereby benefiting patients as well as surgeons.
Stuart M. Essig, Integra's President and Chief Executive Officer said, Theken is an ideal strategic fit for Integra and will form the backbone of our spine strategy going forward. We expect Theken to continue with the innovative spine product development that has marked its history, thereby expanding our reach into the spine market. This combination brings together two well-respected industry leaders in the neuro-ortho device marketplace.
Theken has an experienced senior management team with a proven track record in the spine industry. Upon closing, Randy Theken, the founder of Theken Spine and Theken Disc, and the management of Theken will join the leadership team at Integra and lead Integra's newly-created spine division.
Randy Theken, President of Theken said, We are very excited to join the Integra LifeSciences family of companies. This represents a tremendous opportunity for Integra and Theken to leverage our collective resources and expertise in the neuro-ortho device marketplace and together expand our presence in the orthopedic spine market. Theken Spine will continue to develop streamlined innovative systems for spine surgery, and persist with its mission to reduce O.R. time and decrease the number of implants required in spinal procedures
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