Smith & Nephew has agreed to acquire Blue Belt Technologies for $275 million.
Here are six key notes:
1. Smith & Nephew is at present Blue Belt Technologies' most successful implant sales partner.
2. Blue Belt's Navio surgical system provides robotics-assistance in unicondylar or partial knee replacement surgery. It is available for use with Smith & Nephew's JOURNEY UNI partial knee and the recently acquired ZUK unicompartmental knee.
3. Following the acquisition, Smith & Nephew will focus on expanding Blue Belt's Navio system into indications beyond partial knees.
4. For example, Smith & Nephew plans to use Blue Belt's technology pipeline to support its existing development work in a new bi-cruciate retaining knee arthroplasty product.
5. According to Eric Timko, president and CEO of Blue Belt Technologies, annual revenue growth at Blue Belt is expected to be in excess of 50 percent over the medium-term from a 2015 base of approximately $19 million.
6. The deal is expected to close around the year end, and approximately 120 employees will be joining Smith & Nephew, noted Mr. Timko.