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