Smith & Nephew Acquires US-Based Partial Knee System Provider Engage Surgical

Smith & Nephew plc SNN has acquired Engage Surgical, a provider of cementless unicompartmental (partial) knee systems. Engage Surgical is located in Orlando, Florida.

• The deal value of up to $135 million is contingent on sales performance. The acquisition was financed from existing cash and debt facilities.
• The company noted that Engage's knee systems are the only cementless partial knee implants commercially available in the U.S.
• The Engage Surgical Partial Knee System is a novel, modern cementless knee implant to serve a resurgent segment driven by the potential for better long-term fixation through biologic integration, shorter operating times, and the shift to Ambulatory Surgery Centers (ASCs).
• Smith & Nephew expects the acquisition to drive its Robotics and Real Intelligence strategy.
• The partial knee market is currently worth approximately $300 million in the U.S., as per SmartTRAK. It is expected to grow faster than the total knee market by around 4% per annum through 2029. 
• Price Action: SNN shares are up 3.20% at $34.84 during the market session on the last check Wednesday.