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Smith & Nephew Acquiring Ceterix, Meniscal Repair Technology -

Smith & Nephew entered into an agreement to acquire Ceterix Orthopaedics, developer of NovoStitch®Pro Meniscal Repair, for up to US $105MM. The transaction is expected to close in early 2019.Ceterix received FDA 510(k) clearance to market the next-generation NovoStitch Pro in 3Q18. The technology allows arthroscopic stitch placement in tight joint compartments to repair complex meniscal tears in knees, hips and shoulders. It treats a broad range of tear types, including horizontal, radial, complex, bucket handle and root, as well as vertical tears, and complements SNN's FAST-FIX 360, which also addresses vertical meniscus tears. NovoStitch Pro will be sold through SNN's sports medicine salesforce and Ceterix’s existing dedicated salesforce. (Smith & Nephew plc, 12/18/18)