PLAINSBORO, N.J., Sep 14, 2009 (GlobeNewswire via COMTEX News Network) — Integra LifeSciences Holdings Corporation (Nasdaq:IART) announced today that Integra Spine has acquired substantially all of the assets of Innovative Spinal Technologies, Inc. (IST) for $9.25 million in cash.
IST designed, developed, manufactured, and sold spinal implant products focused on minimally invasive surgery (MIS) and motion preservation techniques. The product lines acquired in the transaction include the Paramount(R) MIS / Open system for percutaneous lumbar fusion procedures, the Paramount(R) interbody fusion system, and the Cordant(TM) anterior cervical plating system, as well as the product development assets related to IST’s Axient(TM) product line for posterior dynamic stabilization. Integra Spine acquired IST’s portfolio of over 100 U.S. and foreign patents and patent applications, its trademarks, and its product inventory, and assumed certain of its patent license agreements.
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