Sector News

Integra LifeSciences to spin off spine unit

November 5, 2014
Life sciences
(Reuters) – Surgical devices and orthopedic care company Integra LifeSciences Holdings Corp said it would spin off its spine unit in an attempt to streamline its operations.
 
The company will continue to produce specialty surgical products and orthopedics and tissue therapies, while the new company will be called SeaSpine.
 
The company, which expects to take a one-time charge on the spin-off, revised its full-year profit forecast to 81-99 cents a share, down from its earlier forecast of $1.06 to $1.24 per share.
 
Piper Jaffray & Co. served as the company’s financial advisor, while Latham & Watkins LLP was the legal counsel in connection with the proposed spin-off transaction.
 
(Reporting by Vidya L Nathan in Bangalore; Editing by Joyjeet Das)

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