PLAINSBORO, N.J., Sept. 2, 2014 (GLOBE NEWSWIRE) -- Integra LifeSciences Holdings Corporation (Nasdaq:IART) today announced that it has made changes to the leadership of its Orthopedics and Tissue Technologies business. The new organization enables Integra to use its resources more efficiently in order to better invest in new products and other growth initiatives. The division is now structured to maximize Integra's existing channels, build new ones and launch new products more effectively.
Mark Augusti, CVP, President of Orthopedics and Tissue Technologies for Integra appointed leaders reporting to him for the following areas: Marketing for the division and strategy for Advanced Wound Care, Orthopedics Product Development, Quality and Regulatory, U.S. Extremities Sales, and U.S. Spine and Orthobiologic Sales.
"This new combined organization will allow us to deploy our best people across our product development teams, enable common approaches in areas such as marketing, product launches, sourcing and kitting, and provide new organic growth opportunities," said Mr. Augusti.
"After 11years of running Integra Spine's product development efforts, I am excited to work with Mark on integrating and enhancing our product development efforts across orthopedic hardware," said Colin Smith, VP, Global Hardware Product Development. "We have an opportunity within our pipeline to develop products that allow our sales force to better address the needs of their surgeons with differentiated technology platforms such as PyroCarbon and NanoMetalene®."
"While the combination simplifies and streamlines the structure internally, we remain committed to our dedicated and distinct selling organizations for Extremities and Spine to best reach our customers," Mr. Augusti added.
Over the near term, expense reductions from the new organization will be invested in growth, including new product development and sales efforts in Advanced Wound Care, Extremities and Spine. As a result, Integra is not making any changes to its financial guidance for 2014.
About Integra
Integra LifeSciences, a world leader in medical technology, is dedicated to limiting uncertainty for surgeons, so they can concentrate on providing the best patient care. Integra offers innovative solutions in orthopedic extremity surgery, neurosurgery, spine surgery, and reconstructive and general surgery. For more information, please visit www.integralife.com
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and reflect the Company's judgment as of the date of this release. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ from predicted results. These risks and uncertainties include market conditions and other factors beyond the Company's control and the economic, competitive, governmental, technological and other factors identified under the heading "Risk Factors" included in item 1A of Integra's Annual Report on Form 10-K for the year ended December 31, 2013 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results. These forward-looking statements are made only as the date thereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.