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.
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned