Smith & Nephew to acquire Zimmer's Unicondylar Knee system in US market
Jun 24, 2015, 11:51 ET
LONDON, June 24, 2015 /PRNewswire/ -- Smith & Nephew (NYSE:SNN; LSE:SN), the global medical technology business, today announced an agreement to acquire the Zimmer® Unicompartmental High Flex Knee (ZUK) system in the US market. ZUK is a clinically proven uni knee replacement introduced globally in 2004. Smith & Nephew has purchased all existing inventory and certain intellectual property for the US market.
The transaction will close within three business days after the merger between Zimmer® and Biomet® has closed.
"Our acquisition of this product line expands our access to a fast growing segment of the joint reconstruction market," says Brad Cannon, President of Global Orthopaedic Franchises. "We look forward to welcoming many new customers to Smith & Nephew and are excited by this opportunity to demonstrate first-hand our excellent customer service and broad range of advanced surgical products."
Terms of the transaction were not disclosed.
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping healthcare professionals improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma & Extremities, Smith & Nephew has around 14,000 employees and a presence in more than 100 countries. Annual sales in 2013 were more than $4.3 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
For more information about Smith & Nephew, please visit our corporate website www.smith-nephew.com, follow @SmithNephewplc on Twitter or visit SmithNephewplc on Facebook.com
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