Smith+Nephew acquired Engage Surgical, owner of the only cementless unicompartmental (partial) knee system commercially available in the U.S. The cost of the acquisition is up to $135 million contingent on sales performance.
Engage Surgical's Partial Knee System currently has regulatory clearance in the U.S. where it is in limited market release.
This move supports Smith+Nephew's strategy for growth through innovation and acquisition, while also providing differentiation. The Engage Surgical Partial Knee System is a novel, modern cementless knee implant serving a resurgent segment driven by the potential for better long-term fixation through biologic integration, shorter operating times and the shift to Ambulatory Surgery Centers (ASCs).
The acquisition will drive Smith+Nephew's Robotics and Real Intelligence strategy. Partial knee procedures are well-matched for robotics due to the need for precise alignment and Smith+Nephew's CORI Surgical System already supports the cemented JOURNEY II™ unicompartmental knee.
The Engage Surgical Partial Knee System is optimized for robotics and will have an application with CORI in the future.
Randy Kilburn, Executive Vice President & General Manager, Reconstruction, Robotics and Digital, said, "Smith+Nephew is now the only medical device company offering both cemented and cementless partial knee implants in the US, as well as robotics-assistance through the CORI™ Surgical System that is well-suited for the precise alignment needed. Through our Sports Medicine franchise we have an established, strong position in ASCs where the vast majority of partial knees in the US are performed. Our VISIONAIRE™ business, the high performance and small footprint of CORI, plus our partial knee portfolio, is a unique compelling offering for customers."