IRVINE, Calif., June 8, 2011 /PRNewswire/ -- Hunter Wise Securities, LLC, ( www.hunterwise.com), announced today that its client, leading privately-held spinal implant device maker SeaSpine, Inc., has been acquired by Integra LifeSciences Holdings Corporation (NASDAQ: IART) for $89 million in cash, subject to certain post-closing adjustments. After the combination, the spine and orthobiologics portfolio is now the largest component of Integra's orthopedics revenue category.
"SeaSpine is an ideal strategic fit for Integra, as the combination brings together two well-respected innovators in the spinal fusion market," said Stuart Essig, Integra's Chief Executive Officer. "Integra has a track record of successfully executing on and integrating strategic transactions, and we expect to realize the benefits of this combination in both our top line growth and earnings per share over the long-term."
SeaSpine generated approximately $50 million in revenue in 2010 and has grown profitably each year since its inception in 2002. Hunter Wise Managing Director Paul Fejtek based in Irvine, CA served as advisor to SeaSpine. "The entire management team at SeaSpine has been a pleasure to work with and they are dedicated, energetic, and passionate about their business and pioneering new solutions for the spinal implant market," said Mr. Fejtek.
"Completing the transaction was an exercise of endurance and overcoming obstacles, much like climbing a mountain," he said. While working on the deal last year Mr. Fejtek actually spent time in Nepal climbing Mt. Everest, and checked in with his client periodically by satellite phone. Ironically the closing date of the acquisition, May 23, 2011, was exactly one year to the day that Paul and his wife Denise stood on the summit of Mt. Everest, Earth's highest peak at 29,029 feet.What's next after those milestones? "I certainly wish continued success to SeaSpine as the newest member of the Integra organization, and I'm looking forward to my next deal," Mr. Fejtek said. "I also plan to finish writing my business book. It's called 'Steps to the Summit', an adventure story combined with valuable life lessons learned while climbing the highest peaks on each of the world's seven continents." ( http://www.fejteksevensummits.blogspot.com/) SeaSpine ( www.seaspine.com), Vista, CA, "The Next Wave in Spine Technology" develops and distributes a full range of spinal fixation products, including both hardware and biologics. Products are offered to customers across the U.S. and in select markets in Europe. Integra LifeSciences ( www.integralife.com), headquartered in Plainsboro, NJ, is a world leader in medical devices, dedicated to limiting uncertainty for surgeons so they can concentrate on providing the best patient care. It offers innovative solutions in orthopedics, neurosurgery, spine, reconstructive and general surgery. Hunter Wise ( www.hunterwise.com), Irvine, CA is a specialized investment bank providing the highest quality level of corporate financing, merger, acquisition, divestiture and advisory services. The Company's clients include middle market privately-held businesses as well as small to medium-sized public companies. Hunter Wise has 15 offices in the U.S. as well as locations in Beijing and London. CONTACT: Paul Fejtek, Managing DirectorHunter Wise Financial Group, LLCHunter Wise Securities, LLC2361 Campus Dr., Suite 100 Irvine, CA 92612 (949) 732-4103 email@example.com SOURCE Hunter Wise Securities, LLC
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