Smith & Nephew buys skin substitute maker for $660M (MedTechDive)
Dive Brief:
Smith & Nephew announced Tuesday it has agreed to pay $660 million to acquire Osiris Therapeutics to expand its presence in the fast-growing regenerative medicine market. The company also announced it is acquiring Brainlab's orthopaedic joint reconstruction business in an effort to boost its digital surgery and robotic assets.
Osiris sells products including skin, bone graft and cartilage substitutes, generating $102 million in revenue for the nine months ended September 2018, an increase of 18.7% over a year earlier. The company has two principal products: Grafix, designed to treat hard-to-heal wounds, and Stravix, for use as a surgical wrap to support soft tissue repair.
The Brainlab deal includes its joint reconstruction digital workflow tools and orthopaedic sales team. Smith & Nephew and Brainlab will develop new applications for orthopaedic reconstruction together and will potentially expand to other surgical areas.
Dive Insight:
Smith & Nephew, which struggled with weak revenue growth last year amid declining sales in its arthrosc...
