Business
Smith+Nephew Completes Orthopaedics Acquisition
Smith+Nephew Completes Orthopaedics Acquisition.
About this update from Smith & Nephew Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5130K\n Smith & Nephew Plc\n 04 January 2021\n \n \n \n \n \n \n \n Smith+Nephew completes Extremity Orthopaedics acquisition \n \n \n \n \n \n 4 January 2021\n \n \n \n \n \n \n \n \n S\n mith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, announces that it has completed the acquisition of the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation (NASDAQ:IART) for $240 million. \n \n \n \n \n \n The acquisition supports Smith+Nephew's strategy to invest in higher-growth segments. It will significantly strengthen Smith+Nephew's extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and an exciting new product pipeline. This includes a next-generation shoulder replacement system, which is expected to be ready for full commercial launch in 2022.\n \n \n \n \n \n Skip Kiil, President, Global Orthopaedics at Smith+Nephew, said:\n \n \n \n \n \n \"We are excited to secure this established global business in the rapidly growing extremities segment. Its portfolio, specialised sales channel and product pipeline all strengthen our business and we look forward to welcoming our new colleagues to Smith+Nephew.\"\n \n \n \n \n \n \n \n \n Enquiries\n \n \n \n \n \n Investors\n \n \n \n \n \n \n \n \n \n \n \n Andrew Swift\n \n \n \n \n +44 (0) 1923 477433\n \n \n \n \n \n \n Smith+Nephew\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Media\n \n \n \n \n \n \n \n \n \n \n \n \n \n Charles Reynolds\n \n \n \n \n +44 (0) 1923 477314 \n \n \n \n \n \n \n Smith+Nephew\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Susan Gilchrist / Ayesha Bharmal \n \n \n \n \n +44 (0) 20 7404 5959\n \n \n \n \n \n \n Brunswick \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n About Smith+Nephew\n \n \n \n \n \n \n \n Smith+Nephew is a portfolio medical technology business that exists to restore people's bodies and their self-belief by using technology to take the limits off living. We call this purpose 'Life Unlimited'. Our 17,500+ employees deliver this mission every day, making a difference to patients' lives through the excellence of o...