Plainsboro, New Jersey and Irvine, California / August 7, 2007/ -- Integra LifeSciences Holdings Corporation (NASDAQ: IART) ("Integra") and IsoTis, Inc. (NASDAQ: ISOT) ("IsoTis") announced today a definitive agreement whereby Integra would acquire IsoTis in an all cash transaction. This strategic combination, unanimously approved by the Board of Directors of IsoTis, will create a global leader in regenerative medicine. The transaction is expected to be completed in the fourth calendar quarter of 2007. The transaction offers a number of potential strategic benefits to Integra:
- Combination creates comprehensive orthobiologics portfolio
- Combined company to have one of the largest sales organizations focused on orthobiologics in the United States
- Extensive channel coverage in neurosurgery, spine and extremity reconstruction markets expected to drive cross-selling opportunities and enhanced revenue growth
Upon closing, IsoTis, Inc. will become a wholly-owned subsidiary of Integra. Integra will be one of the largest companies in the world focused on advanced technology in orthobiologics and will have a product portfolio that encompasses some of the largest and most trusted orthobiologic brands, such as INTEGRA® Dermal Regeneration Template, DuraGen® Dural Graft Matrix, Integra Mozaik™ Osteoconductive Scaffold, NeuraGen® Nerve Guide and the Accell family of demineralized bone matrix products, DynaGraft®II and OrthoBlast® II. The combined company will have operations in North America and Europe with more than 2,000 employees, including approximately 300 sales and service professionals and over 500 employees in Europe.

Under the terms of the merger agreement, IsoTis shareholders will receive $7.25 in cash for each share of IsoTis common stock they own, which represents total consideration of approximately $51 million, plus debt to be repaid at closing.

"This combination brings together two well-respected industry leaders in the regenerative medicine marketplace," said Stuart Essig, Integra's Chief Executive Officer. "Both Integra and IsoTis provide some of the most advanced technology addressing surgeons' needs. By combining our companies' complementary, best-in-class products and technologies, we expect to drive enhanced revenue growth and value creation. 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."

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