Telios Pharmaceuticals Inc.
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As a small company selling into the fragmented wound care markets, Integra was spending as much as it was making. As a platform biomaterials company, Integra faced partnership risk and stood to only get a cut of end-user revenues. It needed a source of direct revenues. A year ago, the company's new CEO began building a neurosurgery business through acquisitions, initially based on mature, revenue-producing products. The strategy seems to be working; the company reached profitability in the last quarter and now holds the third position in a fragmented neurosurgery market. But the incremental strategy that has brought Integra to profitability inherently has its limitations. Now that it has created a growth expectation, it needs to achieve critical mass, through increasingly larger acquisitions or home-run products.
Biolex Inc. is developing a plant-based system for producing large, complex recombinant proteins to serve the ever-growing market for protein-based therapeutics.l
Wound Care. AcryMed has developed a semi-synthetic hydratable polymer technology designed to perform well over a wide spectrum of wound conditions. AcryMed has a dressing for full-thickness, heavily draining wounds, a moisture-retaining sheet dressing to cover a wound until healing is complete and a gel used to moisturize abrasions or scabs.
This articles reviews 1994's intense merger activity. The big hospital and home infusion mergers have created enormous national organizations, but the rise of locally powerful integrated systems undercuts their clout. Consolidation in the device industry reflects the devaluation of incremental technological improvements and providers' needs to cut their list of separate suppliers. Diagnostics gained new players as biotechs, which believe they can successfully mix diagnostic and therapeutic product marketing efforts, bought into the business. Drug firms were energetic acquirors, but few of their deals were copycat transactions. Most were driven by very different motivations, including the idea of acquiring the capability to cover an entire episode of care, not merely the drug used.