Since receiving the third-party audit findings for its Boston manufacturing facility in March, Integra has been thoroughly reevaluating its plans and timeline to resume the manufacture of PriMatrix and SurgiMend at this site. Simultaneously, the Integra team has been furthering its plans to complete the construction and operationalization of the new state-of-the-art tissue manufacturing facility in Braintree. Based on these assessments, IART no longer intends to commence the manufacture of these products at ...

PRINCETON, N.J., July 15, 2024 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq: IART), a leading global medical technology company, is announcing its plans to restart the manufacture of PriMatrix® and SurgiMend® at its new manufacturing facility in Braintree, Massachusetts. The Company expects to operationalize this new facility in the first half of 2026. "Given the advantages of the Braintree facility and the challenges of the Boston facility, the decision to consolidate our efforts a ...

Core Insights - Integra LifeSciences is focused on restoring patients' lives through innovative treatment pathways and high-quality medical technology [1] - The company plans to restart the manufacture of PriMatrix and SurgiMend at a new facility in Braintree, Massachusetts, instead of the Boston site [2][7] - The new Braintree facility is expected to be operational in the first half of 2026 and will enhance quality systems and process flows [4][7] Manufacturing Transition - Following a third-party audit of the Boston facility, the company reassessed its manufacturing plans and decided to consolidate efforts at the new Braintree site [2][3] - The Braintree facility, located 10 miles from Boston, will provide significant capacity for future growth and is designed to create an attractive workplace for employees [4][7] - Temporary use of the Boston site will support product and process development during the transition to the Braintree facility [8] Commitment to Products - The company remains committed to bringing PriMatrix and SurgiMend back to the market and achieving pre-market approval for SurgiMend PRS in implant-based breast reconstruction [4] - The decision to focus on the Braintree facility is seen as a way to limit execution risk while maintaining a minimal difference in timing compared to restarting in Boston [3]

A month has gone by since the last earnings report for Integra LifeSciences (IART) . Shares have added about 26% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Integra due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Integra's Q1 Earnings Match Estimates, Margins ...

Investors in Integra LifeScience Holdings Corporation (IART) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 21, 2024 $40.00 Call had some of the highest implied volatility of all equity options today. What is Implied Volatility? Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction o ...

Have you evaluated the performance of Integra LifeSciences' (IART) international operations during the quarter that concluded in March 2024? Considering the extensive worldwide presence of this medical device maker, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth. The global economy today is deeply interlinked, making a company's engagement with international markets a critical factor in determining its financial success and gro ...

Integra LifeSciences Holdings Corporation (IART) delivered adjusted earnings per share (EPS) of 55 cents in the first quarter of 2024, down 25.7% year over year. The metric was in line with the Zacks Consensus Estimate.The adjustment excludes the impact of certain non-recurring charges like structural optimization charges, the Boston recall and EU Medical Device Regulation charges.GAAP loss per share in the first quarter was 4 cents against GAAP EPS of 29 cents in the year-ago quarter.Revenue DiscussionTota ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to COMMISSION FILE NUMBER 000-26224 INTEGRA LIFESCIENCES HOLDINGS CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) Delaware 51-0317849 (STAT ...

Financial Data and Key Metrics Changes - First quarter revenues were approximately $369 million, representing a decrease of 3.1% year-over-year, with organic revenue down 2.5% primarily due to Boston revenue included in Q1 2023; excluding Boston, organic growth was 1.6% [40][46] - Adjusted EPS for the quarter was $0.55, down 25.7% compared to 2023 [46] - Gross margins were 64.4%, down 290 basis points year-over-year, impacted by unfavorable revenue mix and lower utilization [56] Business Line Data and Key Metrics Changes - Codman Specialty Surgical (CSS) business grew 4.1%, driven by strong performance in neuromonitoring and dural access and repair [40][57] - Tissue Technologies segment was down 15.3% on a reported and organic basis, with a 4.4% decline excluding Boston, primarily due to supply constraints on Integra Skin [41][58] Market Data and Key Metrics Changes - International markets delivered consistent high single to low double-digit growth, with strong performance in regions like China and Latin America [40][57] - The Boston facility's audit revealed more findings than anticipated, delaying the resumption of commercial distribution beyond 2024 [42][64] Company Strategy and Development Direction - The company is focused on resolving supply issues and returning the Boston portfolio to the market, while also pursuing strategic M&A opportunities like the recent acquisition of Acclarent [45][41] - The integration of Acclarent is expected to provide immediate scale and growth in the ENT segment, which is projected to grow at 5% to 6% [73] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to mid-single-digit growth in the second half of the year, despite current supply challenges [51][50] - The company remains committed to addressing the findings from the Boston audit and is optimistic about the long-term growth potential of its diversified product portfolio [51][60] Other Important Information - The company completed the acquisition of Acclarent, which is expected to contribute approximately $80 million in sales starting in Q2 [49][73] - The balance sheet remains strong with net debt at $1.2 billion and total liquidity of $1.5 billion [47] Q&A Session Summary Question: What is the impact of the proposed LCD for DFUs and VLUs on Integra? - Management confirmed that Omnigraft and PriMatrix remain covered under the new proposed LCDs, which is positive but currently represents a small part of the business [62] Question: What are the next steps regarding the Boston facility? - Management indicated that they are still evaluating the findings from the audit and have not provided a specific timeline for resuming production [64][101] Question: How does the company plan to manage costs post-Acclarent acquisition? - The company is focused on integrating Acclarent while managing costs and expects the acquisition to be growth-accretive to the base business [73][93] Question: What is the worst-case scenario for the Boston facility? - Management believes that customer preference for SurgiMend and PriMatrix will remain strong, and they are committed to bringing these products back to market [81] Question: What are the assumptions for Acclarent's growth profile? - The company expects Acclarent to operate at high single-digit growth levels on a full-year basis, reflecting the integration challenges [73]

Integra LifeSciences (IART) reported $368.87 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 3.2%. EPS of $0.55 for the same period compares to $0.74 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $362.14 million, representing a surprise of +1.86%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.55.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- ...