24th Jan 2020 07:43
(Alliance News) - Smith & Nephew PLC on Friday said it has acquired US-based Tusker Medical Inc for an undisclosed sum as part of its strategy to invest in "innovative technologies that address unmet clinical needs".
Tusker Medical, which is headquartered in Menlo Park, California, manufactures Tula System, a system for in-office delivery of ear tubes to treat ear infections.
The Tula system enables the placement of ear tubes in the physician's office without general anaesthesia for patients six months and older. The system received Breakthrough Device designation from the US Food & Drug Administration and on DA, and in November 2019 received pre-market approval.
London-based medical equipment manufacturer Smith & Nephew said the acquisition is complementary to its existing ENT business, with the same customer and patient populations.
Brad Cannon, president of Sports Medicine & ENT at Smith & Nephew, said: "The Tula system is a truly innovative option for physicians treating incredibly common ear conditions. It is a game-changer when treating children, removing the risk and stress of general anaesthesia for patients and caregivers. Tula is a highly complementary addition to our ENT portfolio, and we are excited to significantly improve the treatment options for surgeons and patients with the launch of this technology."
Smith & Nephew financed the Tusker Medical acquisition from existing cash and debt facilities.
By Tapan Panchal; [email protected]
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