Smith & Nephew acquires extremity orthopedics business unit of Integra LifeSciences
Smith & Nephew has announced the acquisition of the extremity orthopedic business of Integra LifeSciences Holdings Corporation, according to a press release.
The planned acquisition, which is valued at $240 million, will expand the higher-growth extremities segment of Smith & Nephew by adding a shoulder replacement, upper and lower extremities portfolio and new product pipeline.
According to the release, Smith & Nephew will also add the focused extremities sales channel of Integra LifeSciences, which includes a specialized sales force and distributors across the United States, Canada and Europe.
“Integra’s extremity orthopedics business is an established global player in the rapidly growing extremities segment, including total shoulder replacement, and has a well-regarded specialized sales channel and a strong pipeline of new products,” Skip Kiil, president of global orthopedics at Smith & Nephew, said in the release. “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,” he added.
“We are looking forward to joining an organization that is committed to growing and expanding its orthopedic product portfolio,” Peter Ligotti, senior vice president of extremity orthopedics at Integra LifeSciences, said in the release. “We are excited for the opportunities ahead as we continue to advance orthopedic innovations for our customers and improve patient outcomes,” he said.
The acquisition is expected to be completed by the end of the 2020, when 300 employees will join Smith & Nephew in its offices in Austin, Texas, and Lyon, France, according to the release.