TIDMSN.
RNS Number : 7030B
Smith & Nephew Plc
11 June 2019
Smith & Nephew expands digital surgery ecosystem with
acquisition of innovator in optical tracking technology
11 June 2019
Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical
technology business, today announces that it has agreed to acquire
Atracsys Sàrl, the Switzerland-based provider of optical tracking
technology used in computer-assisted surgery.
Atracsys' fusionTrack 500 optical tracking camera will be a core
enabling technology for Smith & Nephew's multi-asset digital
surgery and robotic ecosystem, including initially in its
next-generation robotics platform due for commercial release in
2020. The fusionTrack 500 offers superior measurement speed and
latency performance, supporting reduced procedure times, as well as
increased accuracy resulting in finer precision surgical tasks,
such as bone cuts, compared to existing tracking technology.
"The promise of computer assisted surgery with robotics is to
provide faster, more accurate, reproducible results that enable
surgeons to restore quality of life to more patients," said Skip
Kiil, Global President of Orthopaedics at Smith & Nephew. "With
the acquisition of Atracsys, we are securing what we believe to be
the best-in-class position tracking technology for our
next-generation robotic-assisted surgical system."
Atracsys' portfolio includes open platform optical navigation
and robotic tracking components with applications in orthopaedics,
neurosurgery, spine and dental. Smith & Nephew plans for the
business to continue serving these markets.
"Our aim is to continuously contribute to the improvements in
healthcare all around the world, guiding surgical instruments with
sub-millimetric precision," said Gaëtan Marti, co-founder and Chief
Executive Officer of Atracsys. "Smith & Nephew's commitment to
offer significant advancements in enabling technology across
multiple surgical specialities will open breakthrough opportunities
for robotics and computer-assisted surgery," added Maurice Hälg,
co-founder and Chief Technology Officer.
The acquisition is expected to complete during the third quarter
of 2019. The commercial terms have not been disclosed.
ENDS
Enquiries
Investors
Andrew Swift +44 (0) 1923 477433
Smith & Nephew
Media
Charles Reynolds +44 (0) 1923 477314
Smith & Nephew
Charis Gresser/Nick Beswick +44 (0) 20 7404 5959
Brunswick
About Smith & Nephew
Smith & Nephew is a portfolio medical technology business
that exists to restore people's bodies, and their self-belief.
Smith & Nephew has leadership positions in Orthopaedics,
Advanced Wound Management and Sports Medicine, more than 16,000
employees and a presence in more than 100 countries. Annual sales
in 2018 were $4.9 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 and
follow us on Twitter, LinkedIn or Facebook.
Cautionary Statement Regarding Forward-looking Statements
This press release contains forward-looking information related
to Smith & Nephew, Osiris and the proposed transaction that
involves substantial risks and uncertainties that could cause
actual results to differ materially from those expressed or implied
by such statements. These forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
"believes," "plans," "anticipates," "projects," "estimates,"
"expects," "intends," "strategy," "future," "opportunity," "may,"
"will," "should," "could," "potential," or similar expressions.
Forward-looking statements in this press release include, among
other things, statements about the potential benefits of the
proposed transaction, including expected synergies, the expected
timing of completion of the proposed transaction, anticipated
earnings accretion, as well as Smith & Nephew's plans and
expectations and Osiris' financial condition, results of
operations, products and businesses. Forward-looking statements
involve known and unknown risks, uncertainties and other important
factors that could cause actual results to differ materially from
what is expressed or implied by the statements. These
forward-looking statements may be affected by risks and
uncertainties, including, without limitation, the risk that the
proposed transaction will not close when expected or at all; the
risk that the conditions to the tender offer will not be satisfied
in the anticipated timeframe or at all, including uncertainties as
to how many of Osiris' stockholders will tender their shares in the
tender offer; risks related to the ability to realize the
anticipated benefits of the proposed transaction, including the
possibility that its expected benefits and synergies will not be
realized or will not be realized within the expected time period;
negative effects of the announcement or consummation of the
proposed transaction on the market price of Smith & Nephew
shares and its operating results; the risk that Smith &
Nephew's and Osiris' business will be adversely impacted during the
pendency of the proposed transaction; the risk that the operations
of the two companies will not be integrated successfully; unknown
liabilities; and the risk of litigation and regulatory actions
related to the proposed transaction. Additionally, for Smith &
Nephew, these factors include: economic and financial conditions in
the markets we serve, especially those affecting health care
providers, payers and customers; price levels for established and
innovative medical devices; developments in medical technology;
regulatory approvals, reimbursement decisions or other government
actions; product defects or recalls or other problems with quality
management systems or failure to comply with related regulations;
litigation relating to patent or other claims; legal compliance
risks and related investigative, remedial or enforcement actions;
disruption to our supply chain or operations or those of our
suppliers; competition for qualified personnel; strategic actions,
including acquisitions and dispositions, our success in performing
due diligence, valuing and integrating acquired businesses and
disruption that may result from transactions or other changes we
make in our business plans or organisation to adapt to market
developments; and numerous other matters that affect us or our
markets, including those of a political, economic, business,
competitive or reputational nature. Please refer to the documents
that Smith & Nephew has filed with the U.S. Securities and
Exchange Commission (the "SEC") under the U.S. Securities Exchange
Act of 1934, as amended, including Smith & Nephew's most recent
annual report on Form 20-F, for a discussion of certain of these
factors. Any forward-looking statement is based on information
available to Smith & Nephew as of the date of the statement.
All written or oral forward-looking statements attributable to
Smith & Nephew are qualified by this caution. Smith &
Nephew does not undertake any obligation to update or revise any
forward-looking statement to reflect any change in circumstances or
in Smith & Nephew's expectations.
Trademark of Smith & Nephew. Certain marks registered US
Patent and Trademark Office.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
ACQFMGMVMGVGLZM
(END) Dow Jones Newswires
June 11, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Smith & Nephew (LSE:SN.)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Smith & Nephew (LSE:SN.)
Storico
Da Apr 2023 a Apr 2024