Smith & Nephew Buys Engage Surgical for Up to $135 Million
19 January 2022 - 6:51PM
Dow Jones News
By Anthony O. Goriainoff
Smith & Nephew PLC said Wednesday that it has acquired
Engage Surgical for up to $135 million, contingent on sales
performance.
The U.K. medical-technology company said the transaction was
financed from existing cash and debt facilities, and that this
acquisition will drive its Robotics and Real Intelligence
strategy.
"Partial knee procedures are well-matched for robotics due to
the need for precise alignment and Smith & Nephew's CORI
Surgical System already supports the cemented JOURNEY II
unicompartmental knee," the company said.
The company said that Florida-based Engage Surgical owns the
only cementless unicompartmental [partial] knee system commercially
available in the U.S.
Smith & Nephew said it expects the Partial Knee System to
drive its market expansion in the U.S. as well as other markets
once regulatory approvals are obtained.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
January 19, 2022 02:36 ET (07:36 GMT)
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