Smith + Nephew will pay $180 million at closing and up to an additional $150 million based on financial performance, according to a Nov. 22 news release from the company.
CartiHeal is the developer of Agili-C, a biocompatible and resorbable scaffold that promotes knee cartilage regeneration. The technology is a treatment option for bone and cartilage lesions and is designed to treat a wide patient population.
The FDA granted Aligi-C breakthrough device designation status in October 2020 and premarket approval in March 2022.
The transaction is expected to close during the first quarter of 2024, the release said.
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
