Business
Acquisition of tissue regeneration technology
Acquisition of tissue regeneration technology.
About this update from Smith & Nephew Plc
[{"type":"text","content":"\n \nRNS Number : 3576U Smith & Nephew Plc 23 October 2017 \n\n \n \n \nSmith & Nephew acquires tissue regeneration technology for\nshoulder repair\n23 October 2017\n \nSmith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces that it has entered into a definitive agreement to acquire Rotation Medical Inc., a developer of a novel tissue regeneration technology for shoulder rotator cuff repair, for an initial cash consideration of $125 million and up to $85 million over the next five years, contingent on financial performance.\n \n\"Rotation Medical furthers our strategy to invest in disruptive technologies that accelerate the transformation of Smith & Nephew to higher growth,\" said Chief Executive Officer Olivier Bohuon. \"The Rotation Medical Rotator Cuff System is an innovative technology serving unmet clinical needs. It is highly complementary to our Sports Medicine portfolio and provides a compelling new treatment option for our customers.\"\nThe system incorporates a breakthrough technology and technique that balances biomechanics and biology to enhance the body's natural healing response. The bioinductive implant helps tendons heal by inducing growth of new tendon-like tissue, offering the potential to prevent tear progression and reduce the incidence of re-tears. The system also includes a set of disposable arthroscopic instruments that enable reproducible procedures.\n \nThe bioinductive implant can be used along the rotator cuff tear treatment continuum - by itself for partial tears or in conjunction with our conventional portfolio of anchors and suturing technologies to supplement repairs of more complex tears. It is deployed arthroscopically.\n \nIn clinical studies the bioinductive implant has demonstrated the ability to improve tendon healing by inducing growth of new tendon-like issue, resulting in thicker tendons and replacement of tissue defects1,2,3, as well as improving clinical scores over time and with a high percentage (92%) of patients expressing their satisfaction post treatment3.\n \n\"This is the most innovative product that I have seen in sports surgery in recent years,\" said Jeffrey Abrams, MD, Princeton Orthopedic Associates and Sports Medicine. \"There have been many improvements in surgical repa...