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Smith & Nephew completes acquisition of ArthroCare

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Smith & Nephew has announced the completed acquisition of ArthroCare Corporation.

The purchase price was $48.25 per share, translating into an enterprise value of approximately $1.5 billion.

First announced in February, this acquisition is expected to deliver substantial cost and revenue synergies for Smith & Nephew that will add approximately $85 million to the annual trading profit in the third full year.

“The acquisition of ArthroCare is a compelling transaction that accelerates our strategy to rebalance Smith & Nephew towards our higher growth segments.  Its technology and highly complementary products will significantly strengthen our portfolio, and we will use our global footprint to drive substantial new revenue growth,” Olivier Bohuon, chief executive officer of Smith & Nephew, stated in a company press release. “We are pleased to welcome ArthroCare's employees to Smith & Nephew and look forward to the further development and expansion of our combined business.”