By Anthony O. Goriainoff

Smith & Nephew PLC said Wednesday that it has acquired Engage Surgical for up to $135 million, contingent on sales performance.

The U.K. medical-technology company said the transaction was financed from existing cash and debt facilities, and that this acquisition will drive its 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 company said.

The company said that Florida-based Engage Surgical owns the only cementless unicompartmental [partial] knee system commercially available in the U.S.

Smith & Nephew said it expects the Partial Knee System to drive its market expansion in the U.S. as well as other markets once regulatory approvals are obtained.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

January 19, 2022 02:36 ET (07:36 GMT)

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