Smith & Nephew has been active over the past several months, acquiring new assets and launching products for future growth.
10 key updates to know:
1. Smith & Nephew launched its Pico 7Y single-use negative pressure wound therapy system at the tail end of 2018.
2. At the start of 2019, Smith & Nephew agreed to acquire cartilage repair specialist Ceterix Orthopaedics for up to $105 million.
3. Smith & Nephew completed acquisition of monitoring device maker Leaf Healthcare, a medical technology company dedicated to preventing hospital-acquired pressure injuries/ulcers and other immobility-related complications.
4. A February 2019 financial report showed that Smith & Nephew's pre-tax profit fell 11 percent in 2018 after booking restructuring costs, despite revenue increasing.
5. The company announced the relocation of its Pittsburgh facility, with plans to open a research, development and education training facility for robotics in 2020.
6. Smith & Nephew jumps into stem cells with the acquisition of Osiris Therapeutics for $660 million in early March.
7. Osiris Therapeutics shareholders are suing to block Smith & Nephew's $660 million acquisition as they believe the price is too low.
8. Smith & Nephew completed the acquisition of Brainlab’s orthopedic joint reconstruction business, including its associated salesforce.
9. For the first quarter of 2019, Smith & Nephew reported revenue increased 0.5 percent to $1.2 billion. The company's knee sales were up 0.6 percent to $261 million and hip sales were down 1.5 percent to $152 million.
10. On May 13 Smith & Nephew launched its Werewolf Flow 90 Wand, a medical device intended to be used in the shoulder but can also be used on all types of soft tissue.