Smith & Nephew (NYSE:SNN) said today that it closed the $210 million acquisition of Rotation Medical and its regenerative shoulder repair treatment.
The deal called for the British orthopedics and wound care giant to pay $125 million in up-front cash, with another $85 million on the line over the next five years in financial milestones.
Plymouth, Minn.-based Rotation’s bioinductive implant is designed to induce new tissue growth after a patient suffers a rotator cuff tendon tear. The device won FDA clearance in March 2014. Today Smith & Nephew said filing is being prepared for CE Mark approval in the European Union.
Smith & Nephew has said it plans to sell the Rotation implant both via its own and Rotation’s sales forces in the U.S. as it prepares to file for a CE Mark.
The post Smith & Nephew closes $210m Rotation Medical buy appeared first on MassDevice.
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