Integra LifeSciences Holdings Corporation (NASDAQ:IART) recently announced that it has signed a new three-year contract with Premier Purchasing Partners, LP, whereby the private firm has selected Integra as a contracted supplier of Jarit surgical and laparoscopic instruments. Premier Purchasing Partners, LP is the group purchasing unit of one of the largest healthcare alliances in the United States. Financial terms of the contract have not been disclosed.
Integra is a leading provider of Jarit brand surgical instruments, the Luxtec illumination products and the Omni-Tract family of retractor systems. The company sells its Jarit products through its direct sales organization and distributor network.
Integra’s Jarit instruments are used in almost all surgical disciplines, like orthopedics, neurosurgery, general surgery, plastic and reconstructive surgery, ear nose and throat, cardiovascular, obstetrics and gynecology, and ophthalmics. These instruments are used at more than 5,200 hospitals and surgery centers across the globe. Integra is one of the industry’s most comprehensive surgical instruments inventory provider.
We think that the new contract is a win-win for both these organizations. Integra will benefit from the wide client base of Premier Purchasing Partners, which at present encompasses 2,200 U.S. hospitals and 63,000-plus other healthcare sites. This will cater to the company’s top-line growth. Premier Purchasing Partners can leverage high quality and economical instruments provided by Integra as per the contract for its network of hospitals and healthcare sites.
Integra faces tough competition across different segments. In neurosurgery, its main competitors are Medtronic, Inc. (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and B. Braun. In the reconstructive surgery segment, Integra competes with Wright Medical (NASDAQ:WMGI). The orthopedic segment competes with Johnson & Johnson, Wright Medical and Stryker Corporation (NYSE:SYK).
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