Smith & Nephew is to acquire Osiris Therapeutics Inc for around $660 million, and the current employees will join Smith & Nephew when the deal has gone through. Osiris' principal products are the skin substitute Grafix, the cryopreserved placental tissue Stravix, BIO4 bone matrix for bone repair and Cartiform, an allograft for articular cartilage repair.
President, Advanced Wound Management at Smith & Nephew, Simon Fraser, said: "Grafix offers a compelling new option for managing hard to heal wounds and Stravix expands our tissue repair portfolio. We will drive synergies across products from common call points and increased access to our wider customer base."
“Smith & Nephew acquires Osiris Therapeutics.“
Chairman and co-founder of Osiris, Peter Friedli, said: "I am immensely proud of the business we have built from our research into advanced regenerative technologies. Smith & Nephew is the best new owner to take these products forward, widening access to more customers and restoring quality of life for more patients."
Chief Executive Officer, Smith & Nephew, Namal Nawana, said: "Greater presence in the fast growing regenerative medicine market enhances our portfolio and will help immediately accelerate our wound management business as well as provide longer term innovations in additional channels and indications. We sought out a fast growing portfolio with strong clinical evidence addressing critical needs in the marketplace."