Medical devices maker, Integra LifeScience Holdings Corporation (IART) recently secured a new multi-year contract from Premier Purchasing Partners, the group purchasing arm of the Premier healthcare alliance. As per the terms of the deal, Integra will supply its neurosurgical products to the member hospitals of Premier. However, the financial terms of the contract have not been disclosed.
Integra believes that its business will expand further with the receipt of the current contract as this will enable Integra to serve the large client base of Premier with its advanced dural repair, neuro trauma (neuro critical care), neuro instrumentation, hydrocephalus and neurosurgical closure products. Premier currently boasts a broad base of over 2,500 acute healthcare facilities and more than 75,000 other healthcare sites.
Integra is a global leader in regenerative medicine. The company’s products are used primarily in neurosurgery, extremity reconstruction, orthopedics, and general surgery to treat millions of patients in the US, Europe and the Asia-Pacific every year.
Under its Neurosurgery segment, the company has products for each step of a cranial procedure and the care of the patient after surgery. It also provides equipments used in the neurosurgery operating room and neurosurgery intensive care unit (NICU).
Its DuraGen family of products for dural repair has been used in over 1,000,000 implantations. During the second quarter of fiscal 2011, the company’s Neurosurgery sales were $72.1 million, up 9% year over year.
Recently, Integra is splurging all its resources to support new product development and sales distribution. However, tighter capital spending continues to challenge the surgical instruments market. Moreover, Integra faces direct competition in the medical instruments & supplies industry from major players like Medtronic (MDT) and Stryker Corp. (SYK).
