Smith + Nephew strikes deal to buy sports medicine company for up to $330M

Orthopedic

Medtech company Smith + Nephew has entered into a definitive agreement to acquire CartiHeal, a sports medicine technology startup.

Smith + Nephew will pay $180 million at closing and up to an additional $150 million based on financial performance, according to a Nov. 22 news release from the company. 

CartiHeal is the developer of Agili-C, a biocompatible and resorbable scaffold that promotes knee cartilage regeneration. The technology is a treatment option for bone and cartilage lesions and is designed to treat a wide patient population. 

The FDA granted Aligi-C breakthrough device designation status in October 2020 and premarket approval in March 2022. 

The transaction is expected to close during the first quarter of 2024, the release said. 

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