Smith & Nephew PLC (LON:SN.) has continued its recent acquisition spree after agreeing to buy out Leaf Healthcare for an undisclosed sum.
Leaf has developed a technology which helps prevents bedsores by reminding hospital staff when to turn patients over and to which position.
S&N has been the exclusive distributor for the Leaf Patient Monitoring System for the past two years.
“The Leaf Patient Monitoring System is highly complementary to Smith & Nephew's existing wound portfolio and we are excited by the opportunities of expanding this product within our global portfolio,” said S&N’s president of advanced wound management, Simon Fraser.
Bedsores cost an estimated US$11bn to treat every year in the United States, S&N said.
Reminds nurses to turn patients
Nurses are supposed to turn patients every couple of hours, but with so many people to look after, they can easily forget.
Leaf is a small device placed on to the patient’s chest which then shows up on staff computers, letting them know how long it has been since the last turn and which position they need to be moved to.
“The benefits of patient turning and improved patient mobility are well recognised, including the potential for shorter hospital stays," said Leaf co-founder and chief executive Barrett Larson.
“We are excited by this new opportunity to deploy our award-winning pressure injury prevention technology through Smith & Nephew's extensive Advanced Wound Management portfolio.”
Third deal of 2019
The deal, which is expected to close in the second quarter of this year, follows two further acquisitions already in 2019.
Back in January, Smith agreed to buy cartilage repair specialist Ceterix Orthopaedics for up to US$105mln, while last week it took out regenerative medicine maker Osiris Therapeutics for US$660mln.
S&N shares edged 0.6% higher to 1,532p on Monday morning.