Smith+Nephew buys Engage Surgical
The total cost of the acquisition will reach up to $135 million, contingent on sales performance. Smith+Nephew funded the acquisition from existing cash and debt facilities.
Orlando, Florida–based Engage Surgical designed its partial knee system as a novel, modern, cementless knee implant aiming at seizing the potential for better long-term fixation through biologic integration, shorter operating times and a shift to ambulatory surgery centers (ASCs).
The company’s platform is the only cementless unicompartmental knee system commercially available in the U.S., according to a news release.
London-based Smith+Nephew said the acquisition supports its growth strategy while providing differentiation for its customers. ■