NEW YORK (AP) -- Integra LifeSciences Holdings Corp. said Monday it bought almost all of the assets of implant maker Innovative Spinal Technologies Inc. in a bankruptcy auction for almost $9.3 million.
Mansfield, Mass.-based Innovative, whose products include the Paramount MIS/Open minimally invasive lumbar fusion system, had ceased operations in January and filed for Chapter 7 bankruptcy protection in May.
The Paramount system is intended to allow surgeons to fuse vertebrae in the lower part of the spine while making small surgical incisions.
Integra said it plans to launch the Paramount system in the first quarter of 2010. It said an iData Research Report estimated in 2009 that the Paramount system participates in a market valued at about $678 million.
Plainsboro, N.J.-based Integra said the deal will be neutral to its profit in 2010.