![]() ![]() Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. ![]() Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. For example, statements regarding expected revenue growth and trading margins, market trends and our product pipeline are forward-looking statements. This document may contain forward-looking statements that may or may not prove accurate. Smith & Nephew is a member of the FTSE 100 (LSE:SN, NYSE:SNN).įor more information about Smith & Nephew, please visit our website follow on Twitter or visit SmithNephewplc on. Annual sales in 2017 were almost $4.8 billion. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has more than 15,000 employees and a presence in more than 100 countries. Smith & Nephew is a global medical technology business dedicated to supporting healthcare professionals in their daily efforts to improve the lives of their patients. The acquisition will be financed from existing cash and debt facilities.įTI Strategic Consulting About Smith & Nephew The transaction is expected to close in early 2019, subject to the satisfaction of customary conditions. "We are proud of the impact our technology has made in developing the meniscal repair market and are excited by the opportunity to reach many more customers and their patients as an integrated part of Smith & Nephew's extensive Sports Medicine portfolio,” said John McCutcheon, Chief Executive Officer of Ceterix. NovoStitch Pro has 510(k) clearance for sale in the US. ![]() The NovoStitch Pro will be sold through Smith & Nephew's extensive sports medicine sales force as well as Ceterix’s existing dedicated sales force. “NovoStitch offers the potential to repair tear types that were previously considered difficult or impossible to sew, with good control and access for the surgeon.” Peter Kurzweil, president of Memorial Orthopaedic Surgical Group in Long Beach, California. “The new NovoStitch Pro Meniscal Repair System is one of the most innovative technologies developed for arthroscopic knee repair,” said Dr. The NovoStitch Pro allows surgeons to repair arthroscopically a broader range of meniscal tear types, including horizontal, radial, complex, bucket handle and root tears, as well as vertical tears. No other company is better positioned to support changing clinical practice as the standard for meniscal treatment pivots from resection to repair.” “We are excited by the opportunities to take this new option to our customers. "NovoStitch Pro is an outstanding technology that addresses an unmet clinical need,” said Brad Cannon, President Sports Medicine and ENT, Smith & Nephew. Smith & Nephew will pay an initial cash consideration of $50 million and up to a further $55 million over the next five years, contingent on financial performance. With products like NovoStitch Pro and FAST-FIX 360 we see the opportunity to double this proportion in the medium term. In only 15-20% 1 of the cases is the meniscus repaired, rather than removed. It is highly complementary to Smith & Nephew’s leading FAST-FIX ◊ 360 Meniscal Repair System, which addresses vertical tears, the most commonly repairable meniscal injury today.Ĭurrently more than 1.2 million 1 meniscal tears are treated surgically in the US each year. This unique device addresses complex meniscal tear patterns not adequately served by other repair systems. Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces that it has agreed to acquire Ceterix ® Orthopaedics, Inc, the developer of the NovoStitch ® Pro Meniscal Repair System. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |