Smith & Nephew Buys Tissue Regeneration Developer Rotation Medical

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Smith & Nephew Buys Tissue Regeneration Developer Rotation Medical

(RTTNews.com) - Smith & Nephew plc (SN.L, SNN), a medical technology business, announced Wednesday that it has completed the acquisition of Rotation Medical Inc., the developer of a novel tissue regeneration technology for shoulder rotator cuff repair.

The acquisition supports Smith & Nephew's strategy to invest in innovative technologies that meet unmet clinical needs, it said.

The acquisition cost is $125 million and up to a further $85 million over the next five years, contingent on financial performance.

Smith & Nephew said the system is highly complementary to its 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 clearance for sale in the US and a filing is being prepared for approval in the EU.

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