From https://www.insidermedia.com/insider/national/smith-nephew-acquires-company-behind-medical-device | Thursday 20 December 2018
Device is designed to address complex meniscal tear patterns not adequately served by other repair systems.
Historic medical equipment manufacturing giant Smith & Nephew has agreed a deal to acquire the US-based developer of a new device for a fee that could rise to $105m (£82.8m).
Ceterix Orthopaedics is the company behind the NovoStitch Pro Meniscal Repair System. The device has been designed to address complex meniscal tear patterns not adequately served by other repair systems.
Smith & Nephew said the technology was "highly complementary" to its own FAST-FIX 360 Meniscal Repair System, which addresses vertical tears.
Smith & Nephew will pay an initial cash consideration of $50m and up to a further $55m over the next five years, dependant on financial performance.
Read the full story here.