Smith & Nephew (LSE:SN, NYSE:SNN), the global medical technology business, announces it has completed the acquisition of Rotation Medical Inc., the developer of a novel tissue regeneration technology for shoulder rotator cuff repair, supporting the Company’s strategy to invest in innovative technologies that meet unmet clinical needs.
The acquisition cost is $125 million and up to a further $85 million over the next five years, contingent on financial performance.
The Rotation Medical Rotator Cuff 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. There are more than 650,000 rotator cuff procedures taking place annually in the US growing at a rate of 5-6% per annum1.
The system is highly complementary to Smith & Nephew’s existing portfolio of shoulder repair technologies to supplement repairs of more complex tears. It will be sold through Smith & Nephew’s larger sports medicine sales force and the integrated Rotation Medical sales team. It has 510(k) clearance for sale in the US and a filing is being prepared for approval in the EU.
- Millennium Research Group, Inc. Published in: Sports Medicine Devices, US, 2016
Ingeborg Øie - Smith & Nephew +44(0)20 7960 2285
Charles Reynolds - Smith & Nephew +44(0)1923 477314
Ben Atwell / Simon Conway - FTI Strategic Consulting+44(0)20 3727 1000
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 15,000 employees and a presence in more than 100 countries. Annual sales in 2016 were almost $4.7 billion. Smith & Nephew is a member of the FTSE100 (LSE:SN, NYSE:SNN).