Smith & Nephew Inc. Acquires Privately-Held TENET Medical Engineering, Inc.; Premier Provider of Surgical Patient Positioning Equipment (press release)
ANDOVER, Mass., June 23, 2011 /PRNewswire/ — Smith & Nephew, (NYSE: SNN; LSE: SN), on behalf of its Endoscopy Division announced today the acquisition of privately-held, Calgary, Alberta-based TENET Medical Engineering, Inc.
TENET markets leading edge technology in the area of patient positioning such as intuitive positioning controls, increased versatility, adjustability and stability, global compatibility and fully integrated systems used in arthroscopic surgery.
TENET’s products are complementary to Smith & Nephew’s existing comprehensive arthroscopy portfolio and will be sold through Smith & Nephew Endoscopy’s global sales team. Prior to the acquisition, Smith & Nephew Endoscopy had a long-standing distribution agreement in place to be the distributor of choice for TENET’s patient positioning products.
“TENET is well known as the premier provider of patient positioning systems to surgeons and medical facilities around the world,” commented Mike Frazzette, president, Smith & Nephew Endoscopy. “TENET also brings considerable material expertise and a global awareness of customer needs, all of which complements Smith & Nephew’s own deep understanding of arthroscopic procedures and techniques.”
Terms of the agreement were not disclosed.