Smith & Nephew Buys Tissue Regeneration Developer Rotation Medical

(RTTNews) - Smith & Nephew plc (SN.L, SNN), a medical technology business, announced Wednesday that it has completed the acquisition of Rotation Medical Inc., the developer of a novel tissue regeneration technology for shoulder rotator cuff repair.

The acquisition supports Smith & Nephew's strategy to invest in innovative technologies that meet unmet clinical needs, it said.

The acquisition cost is $125 million and up to a further $85 million over the next five years, contingent on financial performance.

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.

Smith & Nephew said the system is highly complementary to its existing portfolio of shoulder repair technologies to supplement repairs of more complex tears.

It 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.