- Medical technology group Smith & Nephew said it had agreed to acquire the extremity orthopaedics business of Integra LifeSciences for $240 million.

Smith & Nephew said the deal supported its strategy to invest in higher-growth segments.

'This acquisition will significantly strengthen Smith+Nephew's extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and an exciting new product pipeline,' the company said.

'The focused extremities commercial channel includes a specialised sales force and distributors, predominantly in the US as well as Canada and Europe.'

The extremity orthopaedics R&D pipeline included a next-generation shoulder replacement system, which was expected to be ready for full commercial launch in 2022.

At 2:18pm: [LON:SN.] Smith Nephew PLC share price was +15p at 1494.5p

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