Smith & Nephew Endoscopy Acquires Osteobiologics

Smith & Nephew's (Andover, MA, USA) endoscopy division, a global leader in arthroscopic surgery, has announced its acquisition of OsteoBiologics (OBI, San Antonio, TX, USA) for U.S.$72.3 million in cash.

OBI had sales revenues of $3.3 million in 2005. The company markets innovative bioabsorbable bone graft substitutes (BGS) in Europe to repair cartilage defects in the knee, and offers the TruFit BGS plugs in the United States, a one-step arthroscopic procedure for repairing bone and articular cartilage defects. The TruFit implants are manufactured with a poly (D,L-lactide-co-glycolide) polymer and formed into a bi-layered cylindrical scaffold that is absorbed by the body within six to nine months.

"Efficacious repair of articular cartilage defects represents a significant unmet need of sports medicine surgeons,” said Joe Darling, vice-president of marketing at Smith & Nephew Endoscopy. "The availability of OBI's simple-to-use TruFit will allow these defects to be treated before they lead to additional damage within the joint.”



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