Integra LifeSciences Holdings (IART) 2016年年度报告「NASDAQ」.pdf

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1、2016 Annual ReportTO OUR SHAREHOLDERS In 2016,we made great strides to strengthen our position as one of the leading medical technology companies in the world.We remain financially strong.We delivered record revenue and earnings,and outperformed major market indices.We launched several key products,

2、made strategic investments to expand our product portfolio,and sharpened our focus on the customer experience.THE YEAR IN PERSPECTIVEFive years ago,we implemented a strategy for driv-ing profitability focusing on improving our exe-cution,optimizing our structure,and accelerating growth.This strategy

3、 has delivered impressive re-sults and has enabled us to become a much stronger company.For the third consecutive year,Integra delivered double-digit revenue growth.We grew net revenues 12 percent,to a record$992 million,and achieved record organic growth1 of 9 percent.We significantly improved gros

4、s margins and working capital,and expanded EBITDA margins,which helped generate operating cash flows of approximately$160 million in 2016,excluding the accreted interest payment associated with our convertible notes.We simplified the organization two years ago by cre-ating two global divisions Speci

5、alty Surgical Solu-tions,and Orthopedics and Tissue Technologies to intensify our focus on market opportunities,increase efficiencies and drive improvement in our profitability.In 2016,we started to reap the benefits of moving to a more streamlined and simplified or-ganizational structure.Our Specia

6、lty Surgical Solu-tions division,which accounts for 64 percent of our revenues,grew 7.8 percent to$632.5 million,driven by strong performance from our market-leading dural repair products,and strong performance in international markets.Our Orthopedics and Tissue Technologies division grew 21.5 perce