Smith & Nephew acquires Engage Surgical, cementless partial knee system
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Smith & Nephew has announced acquisition of Engage Surgical and its cementless partial knee system, according to a company press release.
Engage Surgical Partial Knee System is a cementless knee implant that is engineered to serve a segment “driven by the potential for better long-term fixation through biologic integration, shorter operating times and the shift to ambulatory surgery centers,” according to the release. The partial knee implant is optimized for robotics and will have an application with Smith & Nephew’s CORI surgical system in the future.
“Smith & Nephew is now the only medical device company offering both cemented and cementless partial knee implants in the U.S., as well as robotics-assistance through the CORI surgical system that is well-suited for the precise alignment needed,” Randy Kilburn, executive vice president and general manager of reconstruction, robotics and digital at Smith & Nephew, said in the release.
Smith & Nephew expects to drive market expansion with the cementless knee implant. Engage Surgical’s Partial Knee System has regulatory clearance in the U.S. on limited market release, according to the release.
“The Engage Surgical team is excited about joining Smith & Nephew to help expand the impact of the Engage Surgical Partial Knee System and integrating it with the CORI surgical system,” Dan Justin, CEO of Engage Surgical, said in the release.
The acquisition cost was up to $135 million contingent on sales performance and was financed from existing cash and debt facilities, according to the release.
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