A proposed deal as large as Smith & Nephew's $1.7 billion to buy ArthroCare can make employees at the to-be-acquired company pretty nervous about their future. But it turns out a substantial sum of cash is at the ready to pay bonuses to help retain vital staff once the deal closes.
At the beginning of February, Smith & Nephew announced a deal to buy ArthroCare, a Texas company that specializes in sports medicine joint repair, for $1.7 billion. Now, the world knows a little more about what Smith & Nephew will be getting for their money if the deal closes midyear as planned.
Smith & Nephew's $1.7 billion bid for ArthroCare may be too low, and some analysts predict that interested rivals will swoop in with a higher offer as a result, Bloomberg reports.
Smith & Nephew agreed to fork over $1.7 billion for ArthroCare, a Texas device company that specializes in sports medicine joint repair and recently settled long-standing federal fraud charges in the U.S.
Its expansion to Europe--and "other markets worldwide in the near future"--underscores Smith & Nephew's commitment to find growth in its wound dressing unit, as its core businesses in knee and hip replacements make their way through a turnaround.
Harris Martin reported that a U.S. district judge threw out a patient's lawsuit alleging that U.K. orthopedics giant Smith & Nephew's metal hip replacement left her in pain, disabled and needing replacement surgery.
U.K. orthopedics giant Smith & Nephew has been riding its checkbook into emerging markets all year, and now the company has signed a deal to pick up a share of its Brazilian wound care partner with an eye on vertical integration.
Smith & Nephew has named a new chairman, and the British device company generated encouraging numbers for its 2013 third-quarter revenue.
Smith & Nephew's long-time chairman Sir John Buchananis planning to retire, Sky News reported, a move coming as the device company transitions away from its traditional reliance on orthopedic implants.
Georgia's Femasys will use international device giant Smith & Nephew to advance national distribution in the U.S. of one of its signature women's health diagnostic devices.