REG - Smith & Nephew Plc - Acquisition of Integrity Orthopaedics

Smith & NephewAnnouncement

12/01/2026 16:30

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RNS Number : 5057O  Smith & Nephew Plc  12 January 2026

Smith+Nephew strengthens shoulder repair portfolio with acquisition of sports
medicine business Integrity Orthopaedics and its novel Tendon Seam™ rotator
cuff repair technology

12 January 2026

 

Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology company,
today announces the acquisition of Integrity Orthopaedics, a US‑based
early‑stage commercial developer of Tendon Seam™, an innovative rotator
cuff repair (RCR) system designed to significantly reduce re‑tear rates and
improve patient outcomes.

The acquisition represents a meaningful step in delivering Smith+Nephew's RISE
strategy to accelerate growth through strategic investment and portfolio
leadership, and will be an important building block in our ambition to become
the global leader in Sports Medicine.

RCR is a substantial and growing treatment area, with approximately 500,000
procedures performed annually in the US and an estimated market value of $875
million(1). Yet traditional surgical techniques have historically suffered
from high structural failure rates, averaging 20-40%(2).

Tendon Seam™ directly addresses this unmet clinical need. Its patented
micro‑anchors, continuous suture, individually locked stitches, and
integrated implantation instrument are designed to deliver stronger repairs,
accelerated patient recovery, lower re‑tear rates, and a simplified surgical
technique. Early clinical experience indicates low re‑tear rates, reduced
sling times and shorter procedures compared with standard methods(3). The
system received 510(k) clearance in 2023 and is indicated for reattachment of
soft tissue to bone, including tendons, ligaments, and joint capsules.

Integrity Orthopaedics was founded in 2020 and is headquartered in Maple
Plain, MN, US. Its founders include Tom Westling, co-founder of Rotation
Medical, the developer of the REGENETEN(◊) Bioinductive Implant, which was
acquired by Smith+Nephew in 2017.

Scott Schaffner, President Sports Medicine, Smith+Nephew, said:

"Smith+Nephew now has an unrivalled portfolio for shoulder, including a
powerful next‑generation rotator cuff repair platform to complement
market-leading biological augmentation, the newest shoulder arthroplasty
system, and proven solutions across shoulder instability. We welcome the
Integrity team, including those involved with our prior successful acquisition
of Rotation Medical, and look forward to working together again to offer
customers and their patients this exciting technology."

Tom Westling, Chief Executive Officer of Integrity Orthopaedics, said:

"Integrity Orthopaedics was founded to change the paradigm of rotator cuff
repair to improve the lives of patients and surgeons. We are excited by Tendon
Seam's™ early results which indicate reduced pain, shorter sling times, and
low retear/failure rates. Tendon Seam's™ promising performance combined with
Smith+Nephew's track record launching innovative products, which I experienced
firsthand with REGENETEN, give me confidence we will together change the
standard of care in soft tissue repair."

Ryan Majkrzak, President at Integrity Orthopaedics, said:

"Smith+Nephew is the ideal partner to accelerate the launch of Tendon Seam™
and enable this novel technology to best serve surgeons and patients
worldwide. We are thrilled to be joining the Smith+Nephew team and its
impressive portfolio of shoulder repair solutions."

Smith+Nephew's portfolio for shoulder

Tendon Seam™ enhances Smith+Nephew's extensive shoulder repair offering,
which spans technologies for both replacement and repair. This includes:

·    REGENETEN Bioinductive Implant - used in 200,000+ rotator cuff
procedures in the last decade, and shown to support new tissue growth and
improved healing(4,5).

·    Q‑FIX(◊) All‑Suture Anchor - delivering market‑leading
fixation strength with a decade of clinical performance(6-12).

·    AETOS(◊) Shoulder System - launched in 2024, designed for both
anatomic and reverse total shoulder arthroplasty, supporting a fast‑growing
US shoulder replacement segment estimated at 250,000 procedures in 2025(13).

 

Together, these technologies provide surgeons with one of the broadest and
most advanced portfolios for managing shoulder pathology, spanning biological
enhancement, mechanical repair, and replacement.

 

Transaction details

Under the terms of the transaction, Smith+Nephew will acquire Integrity
Orthopaedics for an initial cash payment of US$225 million plus additional
performance-based payments of up to US$225 million over the next five years.
The transaction is expected to be accretive to Group trading profit margin by
2028.

The acquisition will be financed from Smith+Nephew's existing cash facilities
and the Group remains below its leverage target of 2x EBITDA.

The transaction is expected to close before the end of January 2026.

References

1.   SmartTRAK, 2025, Shoulder Soft Tissue Fixation, 2025 BioMedGPS -
SmartTRAK.

2.   Hein J, et al. Arthroscopy. 2015;31(11):2274-2281.

3.   Data on File at Integrity Orthopaedics.

4.   Camacho Chacón JA, Roda Rojo V, Martin Martinez A, Cuenca Espierrez J,
Garcia Calvo V, Calderón Meza JM, Martin Hernandez C. An isolated
bioinductive repair vs. sutured repair for full-thickness rotator cuff tears:
2-year results of a double blinded, randomized controlled trial. J Shoulder
Elbow Surg, 2024.

5.   Ruiz Ibán M, García Navlet M, Moros Marco S, Diaz Heredia J, Hernando
Sánchez A, Ruiz Díaz R, Vaquero Comino C, Rosas Ojeda ML, Del Monte Bello G,
Ávila Lafuente JL. Augmentation of a Transosseous-Equivalent Repair in
Posterosuperior Nonacute Rotator Cuff Tears With a Bioinductive Collagen
Implant Decreases the Retear Rate at 1 Year: A Randomized Controlled Trial.
Arthroscopy 40(6): 1760, 2024.

6.   ArthroCare Corporation 2017. Report: Design Verification, 1.8mm Q-FIX
MINI Soft Suture Anchor. P/N 49190-03 Rev. B.

7.   Barber FA, Herbert MA. All-Suture Anchors: Biomechanical Analysis of
Pullout Strength, Displacement, and Failure Mode. Arthroscopy.
2017;33(6):1113-1121.

8.   Douglass NP, Behn AW, Safran MR. Cyclic and Loadto Failure Properties
of All-Suture Anchors in Synthetic Acetabular and Glenoid Cancellous Bone.
Arthroscopy. 2017;33(5):977-985 e975.

9.   Ruder JA, Dickinson EY, Peindl RD, Habet NA, Trofa DP, Fleischli JE.
Cyclic and Load-to-Failure Properties of All-Suture Anchors in Human Cadaveric
Shoulder Glenoid Bone. Arthroscopy. 2019;35(7):1954-1959 e1954.

10.  Smith+Nephew 2023. Q-FIX with MINITAPE Claims Report. Internal Report.
10090792- Revision B.

11.  Smith+Nephew 2024 Internal Report, 10144423 Rev B.

12.  Ergun S, Akgun U, Barber A, Karahan M. The Clinical and Biomechanical
Performance of All-Suture Anchors: A Systematic Review. Arthroscopy. 2020;
2(3): e263-e275.

13.  SmartTRAK Report, 2023.

 

Enquiries

 Investors
 Emily Heaven                      +44 (0) 7811 919437
 Craig Bijou                       +1 (475) 850-8282
 Smith+Nephew

 Media
 Charles Reynolds                  +44 (0) 1923 477314
 Smith+Nephew

 Susan Gilchrist / Ayesha Bharmal  +44 (0) 20 7404 5959
 Brunswick

 

About Integrity Orthopaedics

Integrity Orthopaedics was founded in 2020 and is headquartered in Maple
Plain, MN, US. Its founders include Tom Westling, co-founder of Rotation
Medical, the developer of the REGENETEN Bioinductive Implant, which was
acquired by Smith+Nephew in 2017, as well as David Crompton, Chief IP &
General Counsel at Integrity Orthopaedics and former Chief Patent Counsel for
Rotation Medical, and distinguished surgeons Patrick Connor, MD, FAOA, Howard
Harris, MD and Marc Labbe, MD.

 

About Smith+Nephew

Smith+Nephew is a portfolio medical technology business focused on the repair,
regeneration and replacement of soft and hard tissue. We exist to restore
people's bodies and their self-belief by using technology to take the limits
off living. We call this purpose 'Life Unlimited'. Our 17,000 employees
deliver this mission every day, making a difference to patients' lives through
the excellence of our product portfolio, and the invention and application of
new technologies across our three global business units of Orthopaedics,
Sports Medicine & ENT and Advanced Wound Management.

Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and
generated annual sales of $5.8 billion in 2024. Smith+Nephew is a constituent
of the FTSE100 (LSE:SN, NYSE:SNN). The terms 'Group' and 'Smith+Nephew' are
used to refer to Smith & Nephew plc and its consolidated subsidiaries,
unless the context requires otherwise.

For more information about Smith+Nephew, please visit www.smith-nephew.com
(http://www.smith-nephew.com/) and follow us on LinkedIn
(http://www.linkedin.com/company/smith-%26-nephew) , Instagram
(https://www.instagram.com/smithnephewmeded/) , Facebook
(http://www.facebook.com/smithnephewplc) or X
(http://www.twitter.com/smithnephewplc) .

 

Forward-looking Statements

 

This document may contain forward-looking statements that may or may not prove
accurate. For example, statements regarding expected revenue growth and
trading profit margins, market trends and our product pipeline are
forward-looking statements. Phrases such as "aim", "plan", "intend",
"anticipate", "well-placed", "believe", "estimate", "expect", "target",
"consider" and similar expressions are generally intended to identify
forward-looking statements. Forward-looking statements involve known and
unknown risks, uncertainties and other important factors that could cause
actual results to differ materially from what is expressed or implied by the
statements. For Smith+Nephew, these factors include: conflicts in Europe and
the Middle East, economic and financial conditions in the markets we serve,
especially those affecting healthcare providers, payers and customers; price
levels for established and innovative medical devices; developments in medical
technology; regulatory approvals, reimbursement decisions or other government
actions; product defects or recalls or other problems with quality management
systems or failure to comply with related regulations; litigation relating to
patent or other claims; legal and financial compliance risks and related
investigative, remedial or enforcement actions; disruption to our supply chain
or operations or those of our suppliers; competition for qualified personnel;
strategic actions, including acquisitions and disposals, our success in
performing due diligence, valuing and integrating acquired businesses;
disruption that may result from transactions or other changes we make in our
business plans or organisation to adapt to market developments; relationships
with healthcare professionals; reliance on information technology and
cybersecurity; disruptions due to natural disasters, weather and climate
change related events; changes in customer and other stakeholder
sustainability expectations; changes in taxation regulations; effects of
foreign exchange volatility; and numerous other matters that affect us or our
markets, including those of a political, economic, business, competitive or
reputational nature. Please refer to the documents that Smith+Nephew has filed
with the U.S. Securities and Exchange Commission under the U.S. Securities
Exchange Act of 1934, as amended, including Smith+Nephew's most recent annual
report on Form 20-F, which is available on the SEC's website at www. sec.gov,
for a discussion of certain of these factors. Any forward-looking statement is
based on information available to Smith+Nephew as of the date of the
statement. All written or oral forward-looking statements attributable to
Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake
any obligation to update or revise any forward-looking statement to reflect
any change in circumstances or in Smith+Nephew's expectations.

(◊) Trademark of Smith+Nephew. Certain marks registered in US Patent and
Trademark Office.

 

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