UK-based Smith & Nephew will soon be offering a new way for surgeons to help people with knee injuries and their acquisition of Certerix Orthopaedics is part of that plan. In a December statement, the global medical technology company announced their intention to purchase Certerix for $105 million. As a structured deal, Smith & Nephew will make an initial payment of $50 million and up to an additional $55 million over five years, depending on the company’s financial performance.
This means big changes for Smith & Nephew customers interested in Certerix’ suite of surgical tools specifically designed to help treat soft-tissue joint injuries. The Novostitch Pro Meniscal Repair System is one example of their product line – it is a unique tool that enables surgeons to place stitches arthroscopically in tight joint areas. With this particular advancement, physicians are now able to repair complex meniscal tears they were unable to treat in the past.
Brad Cannon, president of Sports Medicine and ENT at Smith & Nephew said, “Novostitch Pro is an outstanding technology that addresses an unmet clinical need…We are excited by the opportunities to take this new option to our customers. No other company is better positioned to support changing clinical practice as the standard for meniscal treatment pivots from resection to repair.”
Smith & Nephew is a medical technology company that employs 15,000 people across 100 countries. They specialize in products and services designed for orthopedic reconstruction, sports medicine, trauma and extremities, and advanced wound management.
Founded in 1856 by Thomas James Smith, the company started as a small pharmacy in Hull, England. After Smith’s death in 1896, the company was taken over by his nephew, Horatio Nelson Smith, who was awarded a large contract by the French President to supply surgical and field dressings during WWI. Since then, the company has expanded and diversified its operations and now focuses primarily on wound management, endoscopy, and orthopedics. Today, Smith & Nephew is a public limited company incorporated and headquartered in the United Kingdom.