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Integra Buys Tyco's Radionics

Integra LifeSciences (IART - Get Report) agreed to acquire the Radionics division of Tyco's (TYC - Get Report) health care group for $80 million in cash.

The buyer said the deal will boost its global neurosurgery products and position the company to offer new stereotactic surgery products.

Radionics, based in Burlington, Mass., sells minimally invasive medical instruments for use in neurosurgery and radiation therapy. Radionics generated revenue of $62.2 million and pretax income of $13.4 million for the year ended Sept. 30.

Integra, a Plainsboro, N.J., medical technology company, will buy the Radionics facility in Burlington, which employs about 135 workers, and sign supply and distribution agreements with Tyco covering certain products. Tyco sells Radionics products in more than 75 countries.

Shares of Integra rose $2.35, or 7%, to $36.86.

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