Smith and Nephew swoops for US firm
Medical technology firm Smith & Nephew has acquired US firm Rotation Medical for $125m and a further $85m over the next five years depending on financial performance.
The firm, which has its advanced wound care management in Hull, said the purchase complimented its portfolio of shoulder repair technologies.
Rotation Medical is a developer of tissue regeneration technology for shoulder rotator cuff repair. Smith and Nephew added that the acquisition would support the firm’s strategy to invest in innovative technologies to deliver unmet clinical needs.
The Rotation Medical Rotator Cuff System incorporates a breakthrough technology and technique that balances biomechanics and biology to enhance the body’s natural healing response. There are more than 650,000 rotator cuff procedures taking place annually in the US growing at a rate of 5-6% a year.
The technology will will be sold through Smith & Nephew’s larger sports medicine sales force and the integrated Rotation Medical sales team. It has clearance for sale in the US and a filing is being prepared for approval in the EU.
