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Smith & Nephew to buy Rotation Medical for up to $210 mln
October 23, 2017 / 1:23 PM / a month ago

Smith & Nephew to buy Rotation Medical for up to $210 mln

LONDON, Oct 23 (Reuters) - Medical technology group Smith & Nephew, which has been urged by activist investor Elliott Management to shed some operations according to media reports, has agreed to buy a U.S. tissue repair business for up to $210 million.

The British company, best known for its replacement hips and knees, said on Monday it would pay an initial $125 million to acquire unlisted Rotation Medical and up to $85 million over the next five years if certain financial targets are hit. (Reporting by Ben Hirschler; editing by Jason Neely)

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