Smith+Nephew (SN.L,SNN) has agreed to acquire the Extremity Orthopaedics business of Integra LifeSciences Holdings Corp. (IART) for $240 million. Smith+Nephew said the acquisition will significantly strengthen its extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and a new product pipeline.
The business operates from facilities in Austin, Texas, which includes a surgeon training facility, as well as in Lyon, France. Around 300 employees are anticipated to join Smith+Nephew on completion of the deal.
Smith+Nephew noted that the Extremity Orthopaedics R&D pipeline includes a next-generation shoulder replacement system, which is anticipated to be ready for full commercial launch in 2022.
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