Tuesday, January 05, 2021
Smith+Nephew, the global medical technology business, announces that it has completed the acquisition of the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation for $240 million.
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.
Skip Kiil, President, Global Orthopaedics at Smith+Nephew, said:
“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.”
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Susan Gilchrist / Ayesha Bharmal
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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 our product portfolio, and the invention and application of new technologies across our three global franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT. Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $5.1 billion in 2019. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms ‘Group’ and ‘Smith+Nephew’ are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.
For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on Twitter, LinkedIn, Instagram or Facebook.
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