If you recall in 2022, Bioventus planned to acquire CartiHeal for $450M (4X sales), but Bioventus spit them out - "Not so fast… Bioventus backs out of CartiHeal acquisition for $450M (4.5 X sales)"
Key Milestones in CartiHeal's History
2004: CartiHeal is founded
2012: CartiHeal initiates clinical trials for Agili-C™
2016: CartiHeal receives CE Mark approval for Agili-C™
2020: CartiHeal receives FDA Breakthrough Device Designation for Agili-C™
2022: CartiHeal receives FDA Premarket Approval (PMA) for Agili-C™
2022
Press Release
November 22, 2023 – Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announces that it has entered into a definitive agreement to acquire CartiHeal, developer of Agili-C, a novel sports medicine technology for cartilage regeneration in the knee. Under the terms of the agreement, Smith+Nephew will pay an initial cash consideration of $180 million at closing, and up to a further $150 million contingent on financial performance.
Agili-C is an off-the-shelf one-step treatment for osteochondral (bone and cartilage) lesions with a broader indication than existing treatments. It is indicated to treat a wide patien...
