Smith & Nephew to acquire patient monitor dev Leaf Healthcare

Smith & Nephew (NYSE:SNN) said today that it inked a deal to acquire patient monitoring system developer Leaf Healthcare for an undisclosed amount. London-based Smith & Nephew said that the acquisition follows a successful two-year partnership deal with Pleasanton, Calif.-based Leaf Healthcare in which Smith & Nephew served as its exclusive distributor and as a strategic investor. Leaf Healthcare’s flagship product is their Leaf patient monitoring system, which features a wearable wireless sensor designed to track patient movement and notify caregivers to prevent immobility-related health complications, such as pressure ulcers or injuries. Smith & Nephew said that the Leaf system will join the Allevyn Life, Allevyn Gentle Border and Secura skin care products in its pressure injury prevention portfolio. “The benefits of patient turning and improved patient mobility are well recognized, including the potential for shorter hospital stays. We are proud of the impact our technology has already made through our existing relationship with Smith & Nephew. We are excited by this new opportunity to deploy our award-winning pressure injury prevention technology through Smith & Nephew’s extensive advanced wound management portfolio,” Leaf Healthcare co-founder & CEO Dr. Barrett Larson said in a prepared statement. Smith & Nephew said that it expects the acquisition to close during the second quarter of this year, and added that it wi...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Featured MassDevice Earnings Roundup Wall Street Beat Leaf Healthcare Smith & Nephew Source Type: news