July 11, 2006
The Endoscopy division of Smith & Nephew, the global leader in arthroscopic surgery, agrees to acquire Willkie client OsteoBiologics, Inc.
On July 11, it was announced that the Endoscopy division of Smith & Nephew, the global leader in arthroscopic surgery, has agreed to acquire Willkie client OsteoBiologics, Inc. (OBI) for about $75 million. Based in San Antonio, Texas, OBI is a privately held company that markets innovative bioabsorbable bone graft substitutes (BGS) in Europe to repair cartilage defects in the knee, and offers the TruFit™ BGS Plugs in the U.S. as a bone void filler. OBI's product line will add to Smith & Nephew's comprehensive arthroscopy portfolio and will be sold through Smith & Nephew Endoscopy's global selling force. The transaction was handled by partner Gordon Caplan, and associates Russell Leaf, Adanech Getachew, Christopher Peters and David Rubinsky.