With this move, effectively S+N has dropped out as a suitor to outbid Stryker for Wright Medical. Read more - Everything you need to know about the Stryker-Wright acquisition
Integra LifeSciences Announces Definitive Agreement To Divest Its Extremity Orthopedics Business To Smith+Nephew For $240 Million (press release)
Integra LifeSciences Holdings Corporation (NASDAQ:IART), a leading global medical technology company, today announced it has entered into a definitive agreement to sell its Extremity Orthopedics business to Smith+Nephew (LSE:SN, NYSE:SNN) for $240 million in cash. The transaction is expected to close at or around the end of 2020, subject to the satisfaction of customary conditions including regulatory approvals and consultation with employee representative bodies.
“Smith+Nephew’s strong focus in orthopedics will enable the business to expand its reach and scale, while allowing the team to thrive in a new environment,” said Peter Arduini, president and CEO, Integra LifeSciences. “This divestiture will increase our focus on Integra’s portfolio of market-leading products in neurosurgery, surgical instrumentation and regenerative medicine and move us closer ...
