Smith & Nephew strengthens global sports medicine business through agreement to acquire ArthroCare for $1.7 billion (press release)
Smith & Nephew plc the global medical technology business, today announces the execution of a definitive agreement to acquire medical device company ArthroCare Corp. (NASDAQ: ARTC) for $48.25 per ArthroCare share in cash, a total consideration of approximately $1.7 billion and an enterprise value of $1.5 billion.
Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:
“This is a compelling opportunity to add ArthroCare’s technology and highly complementary products to further strengthen our sports medicine business. Together, we will be able to generate significant additional revenue from the more comprehensive portfolio, combined sales force and Smith & Nephew’s global footprint. With this transaction, we are again accelerating our strategy to rebalance Smith & Nephew towards higher growth.”
Strategic rationale
Creation of a comprehensive resection and repair portfolio with exciting growth prospects.
- In resection, the combination of ArthroCare’s latest generation of radio frequency (RF) technology an...
