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12 Mar 2019 | 13:07

Smith & Nephew acquires Osiris Therapeutics for around $660m

Medical technology company Smith & Nephew said it had agreed to acquire regenerative medicine group Osiris Therapeutics for around $660m.

Osiris Therapeutics offered products including skin, bone graft and articular cartilage substitutes.

Smith & Nephew offered $19.00 cash per Osiris Therapeutics share.

'Greater presence in the fast growing regenerative medicine market enhances our portfolio and will help immediately accelerate our wound management business as well as provide longer term innovations in additional channels and indications,' chief executive Namal Nawana said.

'We sought out a fast growing portfolio with strong clinical evidence addressing critical needs in the marketplace.'

Osiris posted revenue of $102m for the nine-months through September, up 19% on-year.

At 1:07pm: (LON:SN.) Smith Nephew PLC share price was +19.75p at 1481.75p

Story provided by StockMarketWire.com
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