Smith+Nephew, the global medical technology business, announces that it has agreed to acquire 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.
This acquisition 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.
The focused extremities commercial channel includes a specialised sales force and distributors, predominantly in the US as well as Canada and Europe.
The portfolio is highly complementary to Smith+Nephew’s existing orthopaedics offering, in particular providing entry into the shoulder replacement and foot and ankle segments. The full portfolio includes devices, implants, and instruments which provide for shoulder replacement as well as reconstruction of bone in the hand, wrist and elbow (Upper Extremity) and foot and ankle (Lower Extremity). The US extremities segment has been growing at around 6-7% per annum.
The Extremity Orthopaedics R&D pipeline 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:
“Integra’s Extremity Orthopaedics business is an established global player in the rapidly growing extremities segment, including total shoulder replacement, and has a well-regarded specialised sales channel and a strong pipeline of new products. This strategic acquisition represents a significant opportunity to strengthen Smith+Nephew’s position in a high-value area and allows us to offer a leading extremities portfolio to customers.”
Peter Ligotti, Senior Vice President, Extremity Orthopaedics, Integra LifeSciences, said:
“We are looking forward to joining an organisation that is committed to growing and expanding its orthopaedic product portfolio. We are excited for the opportunities ahead as we continue to advance orthopaedic innovations for our customers and improve patient outcomes.”
The business operates from facilities in Austin, Texas, which includes a surgeon training facility, as well as in Lyon, France. It is expected that around 300 employees will join Smith+Nephew on completion.
See Full Press Release at the Source: Smith+Nephew expands in higher-growth extremities segment through planned acquisition of Integra LifeSciences’ Extremity Orthopaedics business
Press Release by: Smith+Nephew & Integra Lifesciences
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