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Smith & Nephew to buy Rotation Medical for up to $210 million

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Smith & Nephew to buy Rotation Medical for up to $210 million

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LONDON (Reuters) – Medical technology group Smith & Nephew <SN.L>, which has been urged by activist investor Elliott Management to shed some operations according to media reports, has agreed to buy a U.S. tissue repair business for up to $210 million (£159.4 million). The British company, best known for its replacement hips and knees, said on Monday it would pay an initial $125 million to acquire unlisted Rotation Medical and up to $85 million over the next five years if certain financial targets are hit.

(Reporting by Ben Hirschler; editing by Jason Neely)
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