Integra LifeSciences to Make Spine Business a Separate Company

Integra LifeSciences will spin off its spine business, creating a new publicly traded company named SeaSpine, focusing solely on spinal hardware and orthobiologics, the company said Tuesday. The move is intended to streamline operations, and Integra will continue to produce specialty surgical products, orthopedics and tissue therapies, it added.

CEO Peter Arduini said the splitting of the companies will help accelerate growth of both businesses.

SeaSpine will oversee spinal hardware products, including unique interbody devices, minimally invasive surgery products, and deformity correction devices, as well as a full range of osteoconductive and osteoinductive products, the devicemaker said.

The move is part of a larger transformation strategy the company started in 2012, the Plainsboro, N.J.-based Integra said. SeaSpine will operate out of the current Integra Spine headquarters in Vista, Calif.

The transaction is expected to be completed within 12 months. Shares of the new company will be distributed to Integra shareholders tax-free, the company said. — Kellen Owings

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