Integra LifeSciences Corp., NeuroCare Group deal

IART acquired NeuroCare, a provider of neurosurgical products, for $14 million in cash and $11 million of assumed debt under a loan from Fleet Capital Corp., which also will provide a $4 million revolving credit facility. NeuroCare posted 1998 revenues of $32.5 million and has an 18-member U.S. sales force as well as a network of about 60 international distributors in the neurosurgery market that IART said will market IART's pipeline of neurosurgical products. IART's DuraGen dural graft matrix has received the CE Mark in Europe and is under review by the FDA to restore the dural membrane in neurosurgeries. ...