Smith+Nephew completed the acquisition of Integra LifeSciences' extremity orthopedics business for $240 million.
Integra's sales channel, shoulder replacement and upper and lower extremities portfolio strengthen Smith+Nephew's orthopedics line. The acquisition includes a shoulder replacement system the company expects to launch in 2022.
"We are excited to secure this established global business in the rapidly growing extremities segment," Skip Kiil, Smith+Nephew's president of global orthopedics, said in a Jan. 4 news release. "Its portfolio, specialised sales channel and product pipeline all strengthen our business."
After closing, Integra's Orthopedics and Tissue Technologies segment has rebranded as the Tissue Technologies segment.
"With this divestiture, we will now be in an even stronger position to capitalize on our core products and technologies in neurosurgery and regenerative medicine," said Peter Arduini, president and CEO of Integra.
In December, Integra entered into a definitive agreement to acquire regenerative medicine company ACell for up to $400 million.