Smith & Nephew Regulatory News (SN.)

Smith & Nephew Completes Acquisition of Osiris Therapeutics, Inc.

17 April 2019

Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, today announces completion of the acquisition of Osiris Therapeutics, Inc. for $19.00 per share in cash, representing a total equity value of approximately $660 million. Osiris is a fast growing company delivering regenerative medicine products including skin, bone graft and articular cartilage substitutes.

The acquisition is expected to accelerate growth from Smith & Nephew's Advanced Wound Management franchise.

Osiris delivered revenue of $142.8 million for the year ended 31 December 2018, a 20.5% increase over the prior year.

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Smith & Nephew is a portfolio medical technology business with leadership positions in Orthopaedics, Advanced Wound Management and Sports Medicine. Smith & Nephew has more than 16,000 employees and a presence in more than 100 countries. Annual sales in 2018 were $4.9 billion. Smith & Nephew is a member of the FTSE100 (LSE:SN, NYSE:SNN). For more information about Smith & Nephew, please visit our corporate website www.smith-nephew.com and follow us on Twitter, LinkedIn or Facebook.

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