Smith & Nephew puts up $275m for Blue Belt, misses with Q3 top line

Smith & Nephew (NYSE:SNN) said today that it agreed to acquire robot-assisted surgery company Blue Belt Technologies for $275 million, but missed top-line expectations for the 3rd quarter. Minneapolis-based Blue Belt makes the portable Navio system, which is designed to work with 8 different knee systems, including Smith & Nephew’s Zuk and Journey Uni devices. The London-based medical products giant, noting that Blue Belt is its “most successful” implant sales partner, plans to continue to support implants from other manufacturers with the Blue Belt system. “Our experience working with Blue Belt Technologies and our customer insight has convinced us that robotics will become increasingly mainstream across orthopedic reconstruction in the foreseeable future,” Smith & Nephew CEO Olivier Bohuon said in prepared remarks. “This acquisition is a compelling strategic move, with the combination of complementary products and R&D programs creating a platform from which we can shape this exciting new area of surgery. It reinforces our distinctive orthopedic reconstruction strategy, which combines cutting edge innovation, disruptive business models and a strong emerging markets platform to drive outperformance.” “Blue Belt Technologies has redefined robotics in orthopaedic surgery, establishing strong traction with customers who are attracted by the high degrees of implant placement accuracy made possible by Navio, ...
Source: Mass Device - Category: Medical Equipment Authors: Tags: MassDevice Earnings Roundup Mergers & Acquisitions Orthopedics Blue Belt Technologies Smith & Nephew Source Type: news