Smith & Nephew To Acquire Cartiheal For Up To $330M
Smith & Nephew said it will acquire sports medicine technology company Cartiheal for up to $330m to boost its knee injury repair portfolio.
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Studies presented at the American Academy of Orthopedic Surgeons' annual meeting in San Francisco found that robotics did not improve revision rates in total knee arthroplasty surgeries and chatbots do not consistently provide accurate information to orthopedics patients. Wall Street analysts came away from the meeting bullish on the joint reconstruction surgery market. More news from the 12-16 February meeting.
Bioventus exercised a “call option” to acquire Cartiheal for about $315m, plus up to $135m in milestones. The US FDA recently approved Cartiheal’s Agili-C implant to treat knee joint surface lesions.
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