MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTEGRA LIFESCIENCES SALES (IRELAND) LIMITED |
|
|
|
|
Registered Office : |
First Floor Fitzwilton House Wilton Place 999930 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.11.2006 |
|
|
|
|
Com. Reg. No.: |
IE429546 |
|
|
|
|
Legal Form : |
Not Available |
|
|
|
|
Line of Business : |
Medical practice activities |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Ireland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRELAND - ECONOMIC
OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis, with GDP falling by over 3% in 2008, nearly 7% in 2009, and less than 1% in 2010. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property and construction markets. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become a key component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the banking sector. In late 2010, the former COWEN Government agreed to a $112 billion loan package from the EU and IMF to help Dublin further increase the capitalization of its banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland achieved moderate growth in 2011 and cut the budget deficit to 10.1% of GDP, although the recovery is expected to slow in 2012 as a result of the euro-zone debt crisis.
Source
: CIA
REGISTERED NAME & COMPANY SUMMARY
|
Company Name |
INTEGRA LIFESCIENCES SALES (IRELAND) LIMITED |
Company Number |
IE429546 |
|
Registered Address |
FIRST FLOOR |
|
|
|
|
FITZWILTON HOUSE |
|
|
|
|
WILTON PLACE |
|
|
|
|
999930 |
|
|
|
Website Address |
- |
|
|
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
No |
|
Incorporation Date |
10/11/2006 |
Company Status |
Active - Accounts Filed |
|
Previous Name |
|
Type |
Other |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
|
|
Share Capital |
€1 |
|
SIC03 |
85120 |
Currency |
EUR |
|
SIC03 Description |
Medical practice activities |
||
|
SIC07 |
86210 |
||
|
SIC07 Description |
GENERAL MEDICAL PRACTICE ACTIVITIES |
||
|
Principal Activity |
The sale of medical devices. |
||
DIRECTORS/MANAGEMENT
|
Total Current Directors |
4 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company Secretaries |
8 |
Current Directors
|
Name |
Date of Birth |
02/01/1956 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
10/06/2011 |
|
|
|
Address |
2 ROSEBROOKE, FR. RUSSELL ROAD, LIMERICK |
||
|
|
|
|
|
|
Name |
Date of Birth |
29/12/1961 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
6 |
Function |
Director |
|
Appointment Date |
10/11/2006 |
|
|
|
Address |
27 VAN DEVENTER AVENUE, PRINCETON, NEW JERSEY 08542, USA |
||
|
|
|
|
|
|
Name |
Date of Birth |
11/11/1971 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
2 |
Function |
Director |
|
Appointment Date |
30/11/2006 |
|
|
|
Address |
23 CHANTIERE GATE, BLOCK ROAD, PORTLAOISE, CO LAOIS |
||
|
|
|
|
|
|
Name |
Date of Birth |
17/05/1964 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
3 |
Function |
Director |
|
Appointment Date |
01/02/2012 |
|
|
|
Address |
341 PINEVILLE ROAD, NEWTOWN, PA 18940, UNITED STATES |
||
|
|
|
|
|
Current Company Secretary
|
Name |
Date of Birth |
29/12/1961 |
|
|
Officers Title |
|
Nationality |
|
|
Present Appointments |
6 |
Function |
Company Secretary |
|
Appointment Date |
10/11/2006 |
|
|
|
Address |
27 VAN DEVENTER AVENUE, PRINCETON, NEW JERSEY 08542, USA |
||
Previous Director/Company Secretaries
|
Name |
Current
Directorships |
Previous
Directorships |
|
2 |
7 |
|
|
0 |
4 |
|
|
1 |
2 |
|
|
0 |
2 |
|
|
0 |
2 |
|
|
0 |
2 |
|
|
0 |
2 |
|
|
0 |
4 |
NEGATIVE INFORMATION
CJ
|
Total Number of Exact CJs - |
Total Value of Exact CJs - |
||
|
Total Number of Possible CJs - |
Total Value of Possible CJs - |
||
|
Total Number of Satisfied CJs - |
Total Value of Satisfied CJs - |
Exact CJ Details
There are no exact CJ details
Possible CJ Details
There are no possible CJ details
Writ Details
There are no Writ details
Mortgage Summary
|
Outstanding |
0 |
|
Satisfied |
0 |
SHARE & SHARE CAPITAL
INFORMATION
Top 20 Shareholders
|
Name |
Individual Share Value |
|
INTEGRA LIFESCIENCES NR IRELAND LTD |
1 ORDINARY EUR 1.00 |
|
Share Capital |
€1 |
PAYMENT INFORMATION
Payment Information Summary
|
Days Beyond Terms |
Trend Indicator |
Average Payment Experience |
|
||||
|
Steady Improving Worsening |
|
|
%20LIMITED%20-%20207622%2018-Jan-2013_files/image001.gif){kind=small}
GROUP STRUCTURE & AFFILIATED
COMPANIES
Statistics
|
Group |
11 companies |
|
Linkages |
|
|
Countries |
Summary
|
Holding Company |
INTEGRA LIFESCIENCES NR IRELAND LIMITED |
|
Ownership Status |
Intermediately Owned |
|
Ultimate Holding Company |
INTEGRATE LIFESCIENCES HOLDINGS CORP |
Group structure
|
Company Name |
|
Registered
Number |
Latest Key
Financials |
Consol. Accounts |
Turnover |
|
INTEGRATE
LIFESCIENCES HOLDING... |
|
|
- |
- |
$732,068,000 |
|
INTEGRA
LIFESCIENCES CORP |
|
N/A |
- |
- |
|
|
CAVEANGLE
LIMITED |
|
03937111 |
31.12.2011 |
N |
|
|
INTEGRA
NEUROSCIENCES HO... |
|
03922160 |
31.12.2011 |
N |
|
|
SPEMBLY
MEDICAL LIMITED |
|
02087534 |
31.12.2011 |
N |
|
|
INTEGRA
NEUROSCIENCE... |
|
02086419 |
31.12.2011 |
N |
£30,422,000 |
|
SPEMBLY
CRYOSURGER... |
|
02436069 |
31.12.2011 |
N |
|
|
INTEGRA
LIFESCIENCES NR IR... |
|
IE426804 |
31.12.2011 |
N |
€4,648,556 |
|
INTEGRA
LIFESCIENCES (IR... |
|
IE396331 |
31.12.2011 |
N |
€29,185,195 |
|
INTEGRA
LIFESCIENCES SAL... |
|
IE429546 |
31.12.2011 |
N |
€13,211,102 |
|
INTEGRA
LIFESCIENCES SHARE... |
|
IE429568 |
31.12.2011 |
N |
€5,591,500 |
Other Linked companies
|
|
Number |
Latest Key
Financials |
||
|
INTEGRA NEUROSCIENCES HOLDINGS B.V. |
|
33298255 |
31.12.2011 |
|
|
NMT NEUROSCIENCES GMBH |
|
HRB 46355 |
- |
|
|
BIMECO INC |
|
|
- |
|
|
MINNESOTA SCIENTIFIC, INC |
|
|
- |
$10,000,000 |
|
SEASPINE INC |
|
|
- |
|
|
INTEGRA LUXTEC, INC |
|
|
- |
$654,604,000 |
|
INTEGRA ORTHOBIOLOGICS, INC |
|
|
- |
$41,431,000 |
|
INTEGRATE YORK PA, INC |
|
|
- |
|
|
JAMNER SURGICAL EXEC P R |
|
|
- |
$47,000 |
|
CATHTEC INCORPORATED |
|
|
- |
|
|
INTEGRA BURLINGTON MA, INC |
|
|
- |
$29,900,000 |
|
INTEGRA LIFESCIENCES CORP |
|
|
- |
|
|
FIBER IMAGING TECHNOLOGIES, INC |
|
|
- |
|
|
INTEGRA NEUROSCIENCES INTERNATIONAL, INC |
|
|
- |
$200,000,000 |
|
CARDIODYNE INC |
|
|
- |
|
|
CAVEANGLE LTD. |
|
|
- |
|
|
GMSMBH |
|
|
- |
|
|
INTEGRA CLINICAL EDUCATION |
|
|
- |
|
|
INTEGRA LIFESCIENCES |
|
|
- |
|
|
INTEGRA LIFESCIENCES |
|
|
- |
|
FINANCIAL INFORMATION
Key Financials
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder
Funds |
Employees |
|
31/12/2011 |
€13,211,102 |
€536,238 |
€2,111,383 |
- |
|
31/12/2010 |
€10,988,332 |
€675,301 |
€1,644,243 |
- |
|
31/12/2009 |
€8,437,039 |
€344,242 |
€1,053,282 |
- |
Profit & Loss
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
60 |
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
|
Consolidated A/cs |
N |
|
N |
|
N |
|
N |
|
N |
|
|
Turnover |
€13,211,102 |
|
€10,988,332 |
|
€8,437,039 |
|
€7,928,438 |
|
€8,327,058 |
|
|
Export |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Cost of Sales |
€10,648,325 |
|
€8,266,714 |
|
€5,673,746 |
|
€5,902,858 |
|
€7,059,922 |
|
|
Gross Profit |
€2,562,777 |
|
€2,721,618 |
|
€2,763,293 |
|
€2,025,580 |
|
€1,267,136 |
|
|
Wages & Salaries |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Directors Emoluments |
€2,069 |
|
€9,217 |
|
€9,074 |
|
€10,236 |
|
- |
|
|
Operating Profit |
€524,468 |
|
€675,005 |
|
€344,029 |
|
€470,932 |
|
€366,670 |
|
|
Depreciation |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Audit Fees |
- |
|
€10,240 |
|
€17,317 |
|
€27,198 |
|
€11,211 |
|
|
Interest Payments |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Pre Tax Profit |
€536,238 |
|
€675,301 |
|
€344,242 |
|
€490,485 |
|
€378,843 |
|
|
Taxation |
-€69,098 |
|
-€84,340 |
|
-€30,500 |
|
-€79,936 |
|
-€49,853 |
|
|
Profit After Tax |
€467,140 |
|
€590,961 |
|
€313,742 |
|
€410,549 |
|
€328,990 |
|
|
Dividends Payable |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Retained Profit |
€467,140 |
|
€590,961 |
|
€313,742 |
|
€410,549 |
|
€328,990 |
%20LIMITED%20-%20207622%2018-Jan-2013_files/image003.gif){kind=small}
Balance Sheet
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Tangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Intangible Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Fixed Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Stock |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Trade Debtors |
€1,986,795 |
|
€1,829,939 |
|
€1,749,846 |
|
€1,772,420 |
|
€1,397,357 |
|
|
Cash |
€1,040,372 |
|
€2,874,325 |
|
€2,480,165 |
|
€1,054,163 |
|
€1,394,904 |
|
|
Other Debtors |
€1,019,451 |
|
€117,383 |
|
€370,802 |
|
€403,760 |
|
€1,108,028 |
|
|
Miscellaneous Current Assets |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Current Assets |
€4,046,618 |
|
€4,821,647 |
|
€4,600,813 |
|
€3,230,343 |
|
€3,900,289 |
|
|
Trade Creditors |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Bank Loans & Overdrafts |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Other Short Term Finance |
€1,729,019 |
|
€2,998,798 |
|
€3,288,218 |
|
€2,444,257 |
|
€3,464,346 |
|
|
Miscellaneous Current Liabilities |
€206,216 |
|
€178,606 |
|
€259,313 |
|
€46,546 |
|
€106,952 |
|
|
Total Current Liabilities |
€1,935,235 |
|
€3,177,404 |
|
€3,547,531 |
|
€2,490,803 |
|
€3,571,298 |
|
|
Bank Loans & Overdrafts and LTL |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Other Long Term Finance |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
|
Total Long Term Liabilities |
0 |
|
0 |
|
0 |
|
0 |
|
0 |
Capital & Reserves
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Called Up Share Capital |
€1 |
|
€1 |
|
€1 |
|
€1 |
|
€1 |
|
|
P & L Account Reserve |
€2,111,382 |
|
€1,644,242 |
|
€1,053,281 |
|
€739,539 |
|
€328,990 |
|
|
Revaluation Reserve |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Sundry Reserves |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Shareholder Funds |
€2,111,383 |
|
€1,644,243 |
|
€1,053,282 |
|
€739,540 |
|
€328,991 |
Other Financial Items
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Net Worth |
€2,111,383 |
|
€1,644,243 |
|
€1,053,282 |
|
€739,540 |
|
€328,991 |
|
|
Working Capital |
€2,111,383 |
|
€1,644,243 |
|
€1,053,282 |
|
€739,540 |
|
€328,991 |
|
|
Total Assets |
€4,046,618 |
|
€4,821,647 |
|
€4,600,813 |
|
€3,230,343 |
|
€3,900,289 |
|
|
Total Liabilities |
€1,935,235 |
|
€3,177,404 |
|
€3,547,531 |
|
€2,490,803 |
|
€3,571,298 |
|
|
Net Assets |
€2,111,383 |
|
€1,644,243 |
|
€1,053,282 |
|
€739,540 |
|
€328,991 |
Cash Flow
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Net Cashflow from Operations |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Net Cashflow before Financing |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Net Cashflow from Financing |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Increase in Cash |
- |
|
- |
|
- |
|
- |
|
- |
Miscellaneous
|
|
Date Of Accounts |
31/12/11 |
|
31/12/10 |
|
31/12/09 |
|
31/12/08 |
|
31/12/07 |
|
|
Contingent Liability |
NO |
|
NO |
|
NO |
|
NO |
|
NO |
|
|
Capital Employed |
€2,111,383 |
|
€1,644,243 |
|
€1,053,282 |
|
€739,540 |
|
€328,991 |
Ratios
|
|
Date Of Accounts |
31/12/11 |
31/12/10 |
31/12/09 |
31/12/08 |
31/12/07 |
|
|
Pre-tax profit margin % |
4.06 |
6.15 |
4.08 |
6.19 |
4.55 |
|
|
Current ratio |
2.09 |
1.52 |
1.30 |
1.30 |
1.09 |
|
|
Sales/Net Working Capital |
6.26 |
6.68 |
8.01 |
10.72 |
25.31 |
|
|
Gearing % |
0 |
0 |
0 |
0 |
0 |
|
|
Equity in % |
52.20 |
34.10 |
22.90 |
22.90 |
8.40 |
|
|
Creditor Days |
- |
- |
- |
- |
- |
|
|
Debtor Days |
54.74 |
60.61 |
75.49 |
81.37 |
70.47 |
|
|
Liquidity/Acid Test |
2.09 |
1.51 |
1.29 |
1.29 |
1.09 |
|
|
Return On Capital Employed % |
25.39 |
41.07 |
32.68 |
66.32 |
115.15 |
|
|
Return On Total Assets Employed % |
13.25 |
14 |
7.48 |
15.18 |
9.71 |
|
|
Current Debt Ratio |
0.91 |
1.93 |
3.36 |
3.36 |
10.85 |
|
|
Total Debt Ratio |
0.91 |
1.93 |
3.36 |
3.36 |
10.85 |
|
|
Stock Turnover Ratio % |
- |
- |
- |
- |
- |
|
|
Return on Net Assets Employed % |
25.39 |
41.07 |
32.68 |
66.32 |
115.15 |
FOREIGN EXCHANGE RATES
N/a
ADDITIONAL INFORMATION
|
SIC03 |
85120 |
|
SIC03 Description |
Medical practice activities |
|
SIC07 |
86210 |
|
SIC07 Description |
GENERAL MEDICAL PRACTICE ACTIVITIES |
|
Principal Activity |
The sale of medical devices. |
|
|
Number of Employees |
- |
|
- |
|
- |
|
- |
|
- |
|
|
Auditors |
PRICEWATERHOUSECOOPERS |
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|
|
Auditor Comments |
The audit report contains no adverse comments |
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|
|
Bankers |
BANK OF AMERICA |
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|
|
Bank Branch Code |
99-00-61 |
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Status History
|
No Status History found |
Event History
|
Date |
Description |
|
|
07/11/2012 |
New Accounts Filed |
|
|
07/11/2012 |
New Accounts Filed |
|
|
06/11/2012 |
Annual Returns |
|
|
07/08/2012 |
New Accounts Filed |
|
|
07/08/2012 |
New Accounts Filed |
|
|
07/08/2012 |
New Accounts Filed |
|
|
01/02/2012 |
STUART ESSIG has left the board |
|
|
01/02/2012 |
New Board Member (PETER JOSEPH ARDUINI) appointed |
|
|
18/10/2011 |
Annual Returns |
|
|
18/10/2011 |
New Accounts Filed |
|
|
18/10/2011 |
New Accounts Filed |
|
|
10/06/2011 |
New Board Member (MICHAEL O'BRIEN) appointed |
|
|
09/06/2011 |
ROBERT DAVID PALTRIDGE has left the board |
|
|
09/06/2011 |
BRIAN MICHAEL LARKIN has left the board |
|
|
09/06/2011 |
ZEEV HADASS has left the board |
Previous Company Names
|
No Previous Names found |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through %)
are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.