Smith+Nephew Acquires CartiHeal

Smith+Nephew, the global medical technology company, has acquired CartiHeal, developer of Agili-C, a novel sports medicine technology for cartilage regeneration in the knee.
 
Agili-C is an off-the-shelf one-step treatment for osteochondral (bone and cartilage) lesions with a broader indication than existing treatments. It is indicated to treat a wide patient population, including those with lesions in knees with mild to moderate osteoarthritis, a previously unaddressed condition, as well as the approximately 700,000 patients¹ that receive cartilage repair annually in the U.S.  
 
“With its proven superiority² to current standard of care, Agili-C has the potential to transform cartilage repair outcomes,” said Scott Schaffner, President Sports Medicine, Smith+Nephew. “Our expertise in regenerative therapy and leadership in knee repair gives me great confidence that this will be a significant value creator for Smith+Nephew.”
 
Smith+Nephew paid $180 million on completion, with up to a further $150 million contingent on future financial performance, as previously disclosed.
 
References:
¹ Medtech 360, Sports Medicine Devices, Market Analysis, US, 2018, Millennium Research Group, Inc.
² The U.S. Food and Drug Administration (FDA) granted Agili-C Breakthrough Device designation status in 2020 and Premarket Approval (PMA) in March 2022. PMA approval was granted based on the results of a two-year randomised controlled trial (N=251) that confirmed superiority of Agili-C over current standard of care – microfracture and debridement for the treatment of knee joint surface lesions, chondral and osteochondral defects. Study inclusion criteria included patients with mild and moderate osteoarthritis.