Smith & Nephew spends $1.7bn on medical devices company

Smith & Nephew, a “global medical technology business”, has agreed to pay 1.7 billion US dollars to acquire medical devices company ArthroCare.

 “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.”

Olivier Bohuon, chief executive, Smith & Nephew.

“ArthroCare and Smith & Nephew know each other well from our licensing and supply arrangements, and this is a natural transaction for both companies.”

David Fitzgerald, president and chief executive, ArthroCare.

 

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Related news:

Smith & Nephew to buy ArthroCare for $1.7 billion in cash (Bloomberg).

Reference link:

Smith & Nephew strengthens global sports medicine business through agreement to acquire ArthroCare for $1.7 billion (Smith & Nephew press release).

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