Smith & Nephew completes acquisition of surgical robotics business

Medical tech business Smith & Nephew has completed the acquisition of surgical robotics business Blue Belt Technologies.

The FTSE 100 company announced the completion of the deal on Monday, which was originally announced in October last year.

It said the deal, which is valued at $275m (£186.8m), will secure a leading position in the fast-growing area of orthopaedic robotics-assisted surgery.

The group also highlighted that it intends to expand Blue Belt Technologies' Navio surgical platform, from robotics-assistance in unicondylar or partial knee replacement surgery into a wider range of functions including total knee implants.

In October, the company said it was “a compelling strategic move” which reinforces the company’s “distinctive orthopaedic reconstruction strategy”.