Smith & Nephew, the U.K. orthopedic giant, has agreed to pay $12 million to settle a shareholder lawsuit blocking its $1.7 billion acquisition of ArthroCare, according to a SEC filing.
The day after Baxter announced it will split its biopharma and medical products, an analyst is calling for U.K. devicemaker Smith & Nephew to follow suit.
Smith & Nephew and ArthroCare moved one step ahead with M&A plans with a new regulatory blessing. Federal officials granted the companies early terminiation of a waiting period for their merger, clearing one hurdle for the deal's completion, the Austin Business Journal reported.
Smith & Nephew has inked a co-marketing deal with OrthoSensor involving one of the company's orthopedic surgical tools. Neither side is discussing financial details.
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.