Integra Lifesciences Holdings Corporation · NASDAQ:IART
Integra Lifesciences — Investor Day (May 2023)
94 slides from Integra Lifesciences's investor day presentation, May 4, 2023
Slide 1: Integra 2023 Investor Day
Integra 2023 Investor Day May 4 Integra 2023 Investor Day | 1
Slide 2: Welcome & Opening Remarks
Welcome & Opening Remarks Chris Ward Senior Director, Investor Relations Integra 2023 Investor Day | 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties and reflect the Company's judgment as of the date of this presentation. All statements, other than statements of
Slide 4: Today's Agenda
Today’s Agenda 8:30 am Welcome & Opening Remarks Chris Ward | Senior Director, Investor Relations Company Overview & Strategic Direction Jan De Witte | President & Chief Executive Officer Codman Specialty Surgical Mike McBreen | EVP & President, Codman Specialty Surgical Tissue Technologies Robert T
Slide 5: Company Overview & Strategic Direction
Company Overview & Strategic Direction Jan De Witte President & Chief Executive Officer Integra 2023 Investor Day | 5
Slide 6: Purpose, Mission and Vision
PURPOSE Restoring patient lives through technologies that transform surgical, neurologic and regenerative care. MISSION We innovate treatment pathways to advance patient outcomes and set new standards of care. Our work matters to colleagues, customers and communities — and delivers compelling shareh
Slide 7: Opportunity
Opportunity 1 Capitalizing on strong commercial presence in large, attractive markets with stable growth 2 Strengthening operational and commercial excellence for market capture and margin expansion Broadening and deepening reach in care pathways through transformative NPIs, digital and 3 internatio
Slide 8: Integra Overview
Integra Overview (NASDAQ: IART) Restoring Patient Lives through Technologies that Transform Surgical, Neurologic & Regenerative Care Codman Specialty Surgical Tissue Technologies Transformative leader in Neuro -access, Regenerative Outcomes leader in complex wound reconstruction -surgery, -monitorin
Slide 9: Where We Play and How We Play
Where We Play and How We Play Well-positioned to Capture Accelerated Growth in Attractive Markets O U R A D V A N TA G E D P O S I T I O N Neurosurgery Complex Wound and Specialty & Surgical Recon Unique depth and breadth of portfolio and technologies Surgery and Private Label TAM: ~$5B TAM: ~$2.5B1
Slide 10: Key Accomplishments Since 2021 Investor Day
Key Accomplishments Since 2021 Investor Day Advancing Strategic Path to Catalyze Growth T O TA L C O M PA N Y C O D M A N S P E C I A LT Y S U R G I C A L 1• Completed strategic refresh • Extended CUSA clarity portfolio • Driving a more integrated growth strategy • Launched Aurora Evacuator • Broade
Slide 11: Financial Progress Since Pre-COVID
Financial Progress Since Pre-COVID Navigated through Pandemic While Strengthening Our Foundation for Profitable Growth Performance 2019 2022 Drivers PRE-COVID TODAY ORGANIC GROWTH Baseline for YoY Delivery 4.8% 4.2% Gross margins ADJ. EPS $2.74 $3.36 impacted by 34% 34% (GROWTH) (+13.2%) (+5.7%) COV
Slide 12: Driving an Integrated Growth Strategy
Driving an Integrated Growth Strategy Strengthening Core While Accelerating Growth Momentum GROWTH DRIVERS ENABLERS Drive Innovate for Grow Broaden Impact on Operations and Cultivate a High- Outcomes International Care Pathways Customer Excellence performance Culture • NPI excellence • Global portfo
Slide 13: Broaden Impact on Care Pathways to Improve Patient Outcomes
Broaden Impact on Care Pathways to Improve Patient Outcomes GROWTH OPPORTUNITIES Accelerate Profitable Growth with Scale T H E PAT I E N T J O U R N E Y and Breadth in, and Adjacent to, Markets • Organic NPI pipeline • International footprint expansion • Digital enhancement of products and services
Slide 14: Cultivate a High-performance Culture
Cultivate a High-performance Culture Prioritizing Our People with a Focus on Accountability, Talent, Diversity and Sustainability 2022 ACCOMPLISHMENTS Named to Best Places to Work in NJ BUILD AND CULTURE OF DRIVE TALENT ADVANCE EXECUTE Awarded Great Place to Work – ACCOUNTABILITY DEVELOPMENT D&I
Slide 15: World-class Leadership Team Focused on Execution
World-class Leadership Team Focused on Execution Jan De Witte Andrea Caruso Robert T. Davis, Jr. Lisa Evoli Dr. Stuart Hart Mark Jesser Gurpreet Kaur Susan Krause President & CEO CVP, Business EVP & President, EVP & Chief Human CVP & Chief CVP & Chief CVP & Chief CVP, Chief Development Tissue Techno
Slide 16: Diverse and Experienced Board Aligned to Our Integrated Strategy
Diverse and Experienced Board Aligned to Our Integrated Strategy B O A R D S K I L L S M AT R I X Healthcare Industry 88% International 88% Senior Leadership and Oversight 75% Financial Acumen 75% Stuart Essig, Ph.D. Keith Bradley, Ph.D. Shaundra Clay Jan De Witte Corporate Sales/Marketing 63% Manag
Slide 17: Financial Targets – Path to Higher Growth and Margin Portfolio
Financial Targets – Path to Higher Growth and Margin Portfolio KEY DRIVERS AND ENABLERS Long-Term Target Revenue Growth ORGANIC GROWTH • Core markets expansion Baseline for YoY Delivery 5% – 7% • International expansion in emerging markets • Standards of care transformation through NPIs ADJ. EPS GRO
Slide 18: Codman Specialty Surgical
Codman Specialty Surgical Mike McBreen EVP & President, Codman Specialty Surgical Integra 2023 Investor Day | 18
Slide 19: Key Messages
Key Messages Broaden Impact on Care Pathways in Codman Specialty Surgical Strengthening our leading global position in neurosurgery and specialty surgical instruments 1 through NPIs, international expansion and focused channels 2 Investing to drive innovation across products and capabilities for lon
Slide 20: Attractive Global Markets
Attractive Global Markets Serving Stable Markets Where Focused Innovation and Channels Win NEURO- INSTRUMENTS SURGERY Integra 2023 Investor Day | 20
Slide 21: Codman Specialty Surgical Overview
Codman Specialty Surgical Overview Established Leadership in Served Markets, Positioned to Exceed Market Growth ~$5B TAM • 3% – 5% Market CAGR • $1B Revenue1 NEUROSURGERY INSTRUMENTS 3% – 5% Market CAGR 2% – 3% Market CAGR Brain Lesion Surgery Traumatic Brain Injury Hydrocephalus Neuro, ENT and Spec
Slide 22: Sustainable Competitive Advantages Enable Our Right to Win
Sustainable Competitive Advantages Enable Our Right to Win Trusted global leader with Industry-leading most comprehensive products, capabilities neurosurgery portfolio – and technologies #1 or #2 in major markets Established global Robust innovation commercial channel pipeline to address and infrast
Slide 23: Broaden Impact on Care Pathways to Improve Patient Outcomes
Broaden Impact on Care Pathways to Improve Patient Outcomes T H E PAT I E N T J O U R N E Y Surgery Planning Strengthen Site of Care and Workflow Surgical Expansion and Support Offerings Patient Monitoring • Market development to bring more • Expand surgical applications and • Leverage stronghold in
Slide 24: Consistent Innovation and Growth with CUSA Clarity
Consistent Innovation and Growth with CUSA Clarity BACKG ROU N D MARKET • Safely debulk fibrous brain and liver • >$250M global ultrasonic Surgery Planning Strengthen Site of Care tissue while minimizing impact to and Workflow Surgical Expansion and aspirator market (>3% CAGR) Support Patient Monito
Slide 25: Combining Material Technologies to Address Unmet Catheter Needs
Combining Material Technologies to Address Unmet Catheter Needs BACKG ROU N D MARKET • CSF catheters have risk for both • Bolsters position in >$800M global Surgery Planning Strengthen Site of Care infection and/or occlusion and Workflow Surgical Expansion and market category (3% – 4% CAGR) Support
Slide 26: Changing Standard of Care with Aurora Surgiscope Platform
Changing Standard of Care with Aurora Surgiscope® Platform BACKG ROU N D MARKET • Advancing MIS approaches for • $50M device market today expanding Surgery Planning Strengthen Site of Care brain lesions and bleeding and Workflow Surgical Expansion and to >$200M by 2027 Support Offerings Patient Moni
Slide 27: Inorganic Accelerators to Broaden Impact on Care Pathways
Inorganic Accelerators to Broaden Impact on Care Pathways T H E PAT I E N T J O U R N E Y Surgery Planning Strengthen Site of Care and Workflow Surgical Expansion and Support Offerings Patient Monitoring • Acquisitions or partnerships building • Pursue tuck-ins to expand breadth • Partnerships to di
Slide 28: Codman Specialty Surgical International Opportunity
Codman Specialty Surgical International Opportunity China and Japan Drive >30% of Organic Growth Over Next 5 Years Demonstrated Market Leadership with Global NPIs and Pipeline through 2027+ Strong Portfolio and Commercial Footprint Growth through expansion and market access in Aurora ICH and MIS CHI
Slide 29: Summary of Codman Specialty Surgical Opportunity
Summary of Codman Specialty Surgical Opportunity MILESTONES >$100M 3 >4% Increase in Revenue New Growth Platforms with Aurora, Revenue CAGR from New Products by 2027 Combo-catheter and CereLink Relaunch (2022 – 2027) TA K E A WAY S 1 2 3 Strengthening our leading global Investing to drive innovation
Slide 30: Tissue Technologies
Tissue Technologies Robert T. Davis, Jr. EVP & President, Tissue Technologies Integra 2023 Investor Day | 30
Slide 31: Key Messages
Key Messages Capitalize on High-growth Markets by Leveraging Proprietary Technology Platforms 1 Expand market-leading position in complex wound reconstruction Capitalize on first-mover opportunity and dual brand strategy to set a new standard of care in 2 Implant-based Breast Reconstruction (IBBR) g
Slide 32: Attractive Global Markets
Attractive Global Markets Serving Large, Rapidly Growing Markets with Significant Opportunity COMPLEX SURGICAL PRIVATE WOUND RECON LABEL RECON Integra 2023 Investor Day | 32 IBBR: Implant-based Breast Reconstruction
Slide 33: Tissue Technologies Overview
Tissue Technologies Overview Poised for Growth in Attractive Global Markets ~$2.5B Market Size • ~7% – 9% Market CAGR • ~$0.5B Revenue1 COMPLEX WOUND AND SURGICAL RECONSTRUCTION PRIVATE LABEL 5% – 12% Market CAGR MSD Growth Complex Wounds, Burns, Traumatic, Soft Tissue and Muscle Flap Reinforcement,
Slide 34: Sustainable Competitive Advantages
Sustainable Competitive Advantages Recognized market leader Multiple proprietary in addressing unmet needs technology platforms in in growing therapeutic soft tissue regeneration categories and reconstruction Meaningful scale in Versatile portfolio of manufacturing and differentiated products commer
Slide 35: Broaden Impact on Care Pathways to Improve Patient Outcomes
Broaden Impact on Care Pathways to Improve Patient Outcomes T H E PAT I E N T J O U R N E Y Surgery Planning Strengthen Site of Care and Workflow Surgical Expansion and Support Offerings Patient Monitoring • Explore complementary perioperative • Expand existing indications and • Capitalize on trend
Slide 36: Complex Wound Reconstruction
Complex Wound Reconstruction Versatile Portfolio to Solve Complex Challenges OPPORTUNITY MARKET • Complex wound reconstruction Surgery Planning Strengthen Site of Care • $1.6B global market and Workflow Surgical Expansion and presents a range of challenging Support Offerings Patient Monitoring growi
Slide 37: Creating Portfolio of Solutions to Set New Standards of Care in IBBR
Creating Portfolio of Solutions to Set New Standards of Care in IBBR OPPORTUNITY MARKET • FDA increased scrutiny of surgical Surgery Planning Strengthen Site of Care • $600M global market, and Workflow Surgical Expansion and matrix category in recent years Support Offerings Patient Monitoring growin
Slide 38: Inorganic Accelerators to Broaden Impact on Care Pathways
Inorganic Accelerators to Broaden Impact on Care Pathways T H E PAT I E N T J O U R N E Y Surgery Planning Strengthen Site of Care and Workflow Surgical Expansion and Support Offerings Patient Monitoring • Pursue tuck-in acquisitions or • Pursue international acquisitions to • Explore acquisitions a
Slide 39: Building a Foundation for International Growth
Building a Foundation for International Growth Accelerating International Growth with Sustained Market Development Efforts Early Stages of Market Development and Growth Globalization and Acceleration Opportunities Integra Dermal Matrices: broad indication; strong presence in Italy SurgiMend PRS New
Slide 40: Summary of Tissue Technologies Opportunity
Summary of Tissue Technologies Opportunity MILESTONES NPIs 2 >7% And Published Evidence IBBR PMAs Over 2024 – 2026 Revenue CAGR (2022 – 2027) TA K E A WAY S 1 2 3 Expand market-leading position in Capitalize on first-mover Invest in NPIs and evidence complex wound reconstruction opportunity and dual
Slide 41: Digital Strategy
Digital Strategy Mark Jesser CVP & Chief Digital Officer Integra 2023 Investor Day | 41
Slide 42: Key Messages
Key Messages 1 Building digital experience in leadership team with proven track record to drive innovation Prioritizing digital plays that support value-add pricing and share gains for segments’ 2 device portfolios 3 Strengthening digital capabilities with strategic partnerships and complementary ac
Slide 43: Our Approach to Digital
Our Approach to Digital Support Value-add Pricing and Share Gains for Our Device Portfolios Add Data-generating Features Create Digital to Devices “Companion” Apps • Sensors that capture • Manage key information • Patient physiological measurements • Guide decision-making • Clinician device usage •
Slide 44: Prioritization Process
Prioritization Process A S S E S S M E N T O F P O T E N T I A L D I G I TA L P L AY S Supports adoption, Balances value Delivers lowest utilization and for Integra with investment and customer retention operational complexity fastest-to-market pilot of our devices Integra 2023 Investor Day | 44
Slide 45: Broaden Impact on Care Pathways – Potential Digital Opportunities
Broaden Impact on Care Pathways – Potential Digital Opportunities T H E PAT I E N T J O U R N E Y Surgery Planning Strengthen Site of Care Expansion and Workflow Support Surgical Offerings and Patient Monitoring Wound Imaging + Workflow Support App iNPH Diagnostics App CereLink + Multi-parameter ICP
Slide 46: Current Exploratory Pilots
Current Exploratory Pilots Early Digital Opportunities Focused on Improving Patient Outcomes BACKG ROU N D DIGITAL PILOT PORTFOLIO BENEFITS Surgeons seek guidance on Accelerate trial of Integra tissue product selection and use Complex Wound Support App tissue products, increase captures AI-driven im
Slide 47: Summary – Advancing Our Digital Strategy
Summary – Advancing Our Digital Strategy P R O G R E S S T O D AT E Digital Capability Build-out Digital Concept Testing Technology Research Complement Segments’ Strategic Marketing Clinician and Patient Engagement Projects Partnerships in U.S. and Europe to to Identify and Develop Digital Plays in
Slide 48: Q&A
Q&A Integra 2023 Investor Day | 48
Slide 49: Break
Break Integra 2023 Investor Day | 49
Slide 50: International Expansion
International Expansion Harvinder Singh EVP & President, International Integra 2023 Investor Day | 50
Slide 51: Key Messages
Key Messages Leverage Winning Portfolio to Capture Attractive International Growth Opportunities 1 Advancing international revenue contribution while improving operating margins Capitalizing on strong, market-leading portfolio to drive HSD growth while pursuing 2 underpenetrated markets and indicati
Slide 52: International Overview
International Overview Global Footprint with Direct Presence Provides Foundation for Further Expansion • 28% of Integra’s 2022 Revenue vs. Our International Sales Footprint Avg ~50% MedTech Benchmark Group2 Targeting Aspiring ~$0.4B >30% 35% – 40% 2022 and by 2027 Long-Term REVENUE1 • U.S. | Interna
Slide 53: International Market Landscape and Opportunity
International Market Landscape and Opportunity Driving Above Market Organic Growth by Geographic and Portfolio Expansion 3-year Market IART 3-year IART 5-year Organic ~$0.2B CAGR1 CAGR Growth Aspiration2 RoW Europe ~1% LSD HSD ~$0.3B ~$0.7B China ~$1.5B1 Europe APAC Ex-China ~4% HSD LDD TAM China ~7
Slide 54: How Will Integra Win in International Markets
How Will Integra Win in International Markets 1 Enhancing organizational capabilities to capitalize on large international growth opportunity 2 Driving commercial investment and execution for above market growth and category leadership 3 Building upon industry-leading portfolio to accelerate growth
Slide 55: Enhancing Organizational Capabilities
Enhancing Organizational Capabilities Driving Deeper Understanding of International Markets and Customers 1 2 3 Drive Deeper Market Knowledge and Expertise of Marketing, Regulatory, Reimbursement and Access • Integra wins in markets with local expertise (e.g., Japan, Italy and Canada) • Local talent
Slide 56: Driving Commercial Investments and Execution
Driving Commercial Investments and Execution Double-digit Growth in Key Emerging Markets by Geographic Expansion 1 2 3 Expand geographic footprint in key emerging markets • Establish stronger presence in India, Southeast Asia, Middle East and Latin America • Expand in Tier 2 – 3 – 4 cities in China
Slide 57: Building Upon Industry-leading Portfolio
Building Upon Industry-leading Portfolio Driving Organic Growth through Existing Portfolio and Accelerating Inorganic Opportunities Demonstrated Market Leadership with Strong Portfolio and Commercial Footprint 1 2 3 EU JAPAN CHINA Strengthened our MDR approach to Above market growth through category
Slide 58: China: Largest Int'l Growth Opportunity; Build In-China-For-China
China: Largest Int’l Growth Opportunity; Build In-China-For-China Extending China's Double-digit Growth Trajectory in China; ICFC to Ensure Continued Market Access China is >20% of global MedTech market, 1 growing double digits Driving Double-digit Growth through NPIs and Footprint Expansion • China
Slide 59: Summary of International Opportunity
Summary of International Opportunity MILESTONES >30% HSD Establish International as a % of Total Revenue by 2027 Revenue Growth (2022 – 2027 CAGR) In-China-For-China TA K E A WAY S 1 2 3 Advancing international revenue Capitalizing on strong, market- Driving clear, well-aligned strategic contributio
Slide 60: Global Operations
Global Operations Steve Leonard CVP, Global Operations & Supply Chain Integra 2023 Investor Day | 60
Slide 61: Key Messages
Key Messages 1 Adapting global network and capacity to support broad technology portfolio 2 Creating a scalable, resilient supply chain to deliver on strategic growth 3 Focusing on productivity and cost management to support margin expansion Integra 2023 Investor Day | 61
Slide 62: Global Manufacturing and Distribution Footprint
Global Manufacturing and Distribution Footprint Network Supports Broad Technology Portfolio throughout Patient Journey Well-positioned to Serve Attractive Markets 14 MANUFACTURING SITES Established Global Centers of Excellence Ghent, BE Tullamore, IE Cincinnati, OH Boston, MA Rietheim-Weilheim, DE M
Slide 63: Key Capabilities to Drive Operations and Customer Excellence
Key Capabilities to Drive Operations and Customer Excellence Scale Global Operations with Our Competitive Advantages Clear Strategic Priorities Sourcing and Technology COEs with Deep Invest in Long-Term Risk Management Manufacturing Capabilities 1 Supply Resilience Global scale and continue Industry
Slide 64: Long-Term Supply Resilience
Long-Term Supply Resilience Investing Capital in Infrastructure for Reliability and Capacity 1 2 3 Standardizing key processes, further drives scalability of network • Transitioned to single core ERP system globally rapid decision support • Adopted single quality management system clarity and consis
Slide 65: Speed and Quality of Execution
Speed and Quality of Execution Elevating Talent and Capabilities to Improve Resilience in Uncertain Macro Environment 1 2 3 Elevate leadership and skillsets to manage complex, challenging environment • Implemented new organization structure and repurposed leadership positions • Invested in organizat
Slide 66: Margin Drivers
Margin Drivers Focusing on Operations, Customer Excellence and Conversion Cost Productivity 1 2 3 Culture of continuous improvement Recent Achievement Highlights – • Dedicated resources – rebuilt central continuous improvement team in 2022 Yield Improvement on • Investing in leadership capability bu
Slide 67: Summary of Global Operations Opportunity
Summary of Global Operations Opportunity MILESTONES +30% 98%+ 5% Capacity Creation Sustained Service Levels Productivity Improvement Annually TA K E A WAY S 1 2 3 Adapting global network and Creating a scalable, resilient Focusing on productivity and capacity to support broad supply chain to deliver
Slide 68: Long-Term Financial Outlook & Closing Remarks
Long-Term Financial Outlook & Closing Remarks Jan De Witte President & Chief Executive Officer Integra 2023 Investor Day | 68
Slide 69: Key Messages
Key Messages Executing commercial and innovation strategy to accelerate annual organic growth to 1 a range of 5% – 7% Expanding adjusted gross margin to 70% – 72% through volume growth, leverage, mix and 2 a broad set of efficiency levers Capitalizing on strong balance sheet, cash generation and fin
Slide 70: Financial Progress Since Pre-COVID
Financial Progress Since Pre-COVID Growth Potential Hampered by Procedure Responsible OPEX Management Offset Slow Downs and Supply Bottlenecks Pandemic-related Headwinds and Inflation Long-Term PRE-COVID TODAY 2019 2022 Target ORGANIC 4.8% 4.2% +5% – 7% GROWTH1 34% ADJ. EPS $2.74 $3.36 34% Double-di
Slide 71: Achieve +5% – 7% Organic Growth
Achieve +5% – 7% Organic Growth Multiple Organic Levers and Clear Execution Path Organic Growth KEY ENABLERS 5% – 7% • Codman Specialty Surgical ~100 bps Aurora International • 3% – 5% market growth Combo- Expansion IBBR catheter • CereLink re-launch and growth 4.2% PMAs • Launch and growth of key N
Slide 72: Achieve 70% – 72% Adj. Gross Margin
Achieve 70% – 72% Adj. Gross Margin Execution Potential Across Broad Set of Profitability Levers KEY ENABLERS 70% – 72% • Volume growth and price capture Price International • Favorable product mix Volume and Accelerated • Higher margin NPIs Product Mix Growth 67.2% • Faster growing Tissue Technolog
Slide 73: Continuing to Enhance Long-Term Cash Flow Generation
Continuing to Enhance Long-Term Cash Flow Generation Strong Cash Flow Generation Fuels Continued Growth Investments Operating Cash Flow, Free Cash Flow ($M) & Adj. FCF Conversion (%) KEY ENABLERS FCF Capex Adj. FCF Conversion • Revenue growth acceleration >$450 • Margin improvement $50 0 350 .0% ~$5
Slide 74: Strong and Flexible Balance Sheet
Strong and Flexible Balance Sheet Supporting Both Organic and Inorganic Growth Capital Structure ($M, 3/31/23) KEY DRIVERS Cash and Cash Equivalents $307 Profitable growth generating Revolver ($1,300) – 2028 $0 strong cash flow Term Loan ($775) – 2028 $775 Convertible Bond – 2025 $575 Total liquidit
Slide 75: Disciplined Capital Allocation Framework
Disciplined Capital Allocation Framework Historical Use of Cash ($B) 2017 – 2019 2020 – 2022 FUTURE PRIORITIES Focusing on Growth Strengthening Balance Sheet M&A (>75%) $1.70 • Strategic and tuck-in acquisitions remain 9% core focus 11% • M&A focused on expanding capabilities/ distribution in target
Slide 76: Strategic and Accretive Approach to M&A
Strategic and Accretive Approach to M&A M&A is a Key Growth Catalyst on Top of Organic Growth S T R AT E G I C F I LT E R S F I N A N C I A L F I LT E R S Breadth/Depth in Care Pathway Synergistic Adjacencies Accretive to ≥10% ROIC Higher Growth, Higher Margin Growth Adjacencies Growth and/or by Yea
Slide 77: Value Creation through M&A
Value Creation through M&A M & A F I LT E R S Closed: Jan 2021 | Price: $300M2 Closed: Dec 2022 | Price: $50M2 Breadth/Depth in Care Pathway Synergistic Adjacencies Higher Growth, Higher Margin Growth Adjacencies International Portfolio and Channel Opportunity Accretive to Growth and Earni
Slide 78: Integrated Strategy to Achieve Long-Term Targets
Integrated Strategy to Achieve Long-Term Targets Timing to Enter K E Y S T R AT E G Y V E C T O R S Long-Term Target Low End of Range Organic Profitability and Inorganic ORGANIC GROWTH Growth Cash Flow Growth Baseline for YoY Delivery +5% – 7% 2024 • Executing in our core • Volume growth and • M&A g
Slide 79: Closing Remarks: The Integra Opportunity
Closing Remarks: The Integra Opportunity Executing on an Integrated Strategy to Achieve Profitable Growth Acceleration Capitalizing on strong commercial presence in large, attractive markets with stable growth while strengthening 1 operational and commercial excellence for market capture and margin
Slide 80: Q&A
Q&A Integra 2023 Investor Day | 80
Slide 81: Appendix: Non-GAAP Reconciliations
Appendix Non-GAAP Reconciliations Integra 2023 Investor Day | 81
Slide 82: FY 2019 and FY 2022 Organic Growth Reconciliation
FY 2019 and FY 2022 Organic Growth Reconciliation (1) Organic revenue has been adjusted for 2022, 2021, 2019, and 2018 to account for divestitures and discontinued products; (2) Revenue from acquisitions include ACell, SIA, and Arkis Biosciences Integra 2023 Investor Day | 82
Slide 83: FY 2019 and FY 2022 Adjusted Gross Margin Reconciliation
FY 2019 and FY 2022 Adjusted Gross Margin Reconciliation (1) Acquisition, divestiture, and integration-related charges are associated with the Codman Neurosurgery acquisition and the divestiture of Extremity Orthopedics Integra 2023 Investor Day | 83
Slide 84: FY 2019 and FY 2022 Adjusted EBITDA Margin Reconciliation
FY 2019 and FY 2022 Adjusted EBITDA Margin Reconciliation (1) Acquisition, divestiture, and integration-related charges are associated with the Codman Neurosurgery, Derma Sciences, Arkis Biosciences, Rebound Therapeutics, ACell and SIA acquisitions and the divestiture of Extremity Orthopedics, TWC,
Slide 85: FY 2019 and FY 2022 Adjusted EPS Reconciliation
FY 2019 and FY 2022 Adjusted EPS Reconciliation (1) Acquisition, divestiture, and integration-related charges are associated with the Codman Neurosurgery, Derma Sciences, Arkis Biosciences, Rebound Therapeutics, ACell and SIA acquisitions and the divestiture of Extremity Orthopedics, TWC, and includ
Slide 86: FY 2019 and FY 2022 Adjusted Free Cash Flow Reconciliation
FY 2019 and FY 2022 Adjusted Free Cash Flow Reconciliation Integra 2023 Investor Day | 86
Slide 87: First Quarter 2023 Net Debt Reconciliation
First Quarter 2023 Net Debt Reconciliation Integra 2023 Investor Day | 87
Slide 88: Speaker Bios
Speaker Bios Integra 2023 Investor Day | 88
Slide 89: Speaker Bios
Speaker Bios JAN DE WITTE joined Integra in December 2021 as president and chief executive officer. Mr. De Witte has an extensive track record in the global healthcare industry spanning more than two decades. Prior to joining Integra, Mr. De Witte served as chief executive officer of Barco N.V., a g
Slide 90: Speaker Bios
Speaker Bios MIKE McBREEN is the executive vice president and president, Codman Specialty Surgical. He is responsible for overall strategic direction and commercial operations of the company’s market leading neurosurgical portfolio and broad surgical instrumentation offering. Mr. McBreen is a 30-yea
Slide 91: Speaker Bios
Speaker Bios ROBERT T. DAVIS, JR. is the executive vice president and president of the Tissue Technologies global product division. He leads global business unit operations across sales, commercial functions, product management and product development/R&D, strategy, business development and regulato
Slide 92: Speaker Bios
Speaker Bios MARK JESSER is the corporate vice president and chief digital officer and is responsible for helping define the company’s digital roadmap and support the execution of its digital plans. Mr. Jesser has 15 years of successfully developing and launching digital platforms and strategies tha
Slide 93: Speaker Bios
Speaker Bios HARVINDER SINGH is the executive vice president and president of Integra’s international business. Prior to joining Integra, Mr. Singh was at Abbott Laboratories for more than 20 years. He was a corporate officer and vice president of global commercial operations for the vascular busine
Slide 94: Speaker Bios
Speaker Bios STEVE LEONARD assumed the role of corporate vice president, Global Operations and Supply Chain in August 2020. Mr. Leonard joined Integra as of senior vice president, OTT Operations in October 2019. Before joining Integra, he was the senior vice president for global operations at Albany
Integra LifeSciences Holdings — Investor Day (May 2023) on 6ix