Integra to Buy TEI Biosciences and TEI Medical

Integra Lifesciences has entered into an agreement to acquire TEI Biosciences and TEI Medical in a transaction valued at $312 million.

The TEI buyout expands Integra’s portfolio of surgery and regenerative wound care products, Integra said Sunday.

As part of the deal, the Plainsboro, N.J., devicemaker will gain access to TEI’s flagship PriMatrix dermal repair scaffold.

Integra expects the deal to close during the third quarter of this year, subject to regulatory approval.

Waltham, Mass.-based TEI Biosciences and its spinoff TEI Medical posted sales of about $63.5 million in 2014. — Jason Scott