Smith & Nephew PLC (LON:SN.) has announced the acquisition of ear tubes specialist Tusker Medical, Inc. for an undisclosed sum.
The FTSE 100-listed firm said it was financed from existing cash and debt facilities.
Tusker Medical’s lead product is Tula System, a technology that allows children to receive treatment for ear infections without undergoing surgery.
Normally, they are given a general anaesthetic, which poses risks and increases the cost but Tula can be administered to children aged over six months in the physician's office.
Tula System received the ‘breakthrough device’ denomination by the US Food & Drug Administration (FDA), which speeds up approval processes for products providing more effective treatment for life-threatening or debilitating conditions.
In November it received pre-market approval, whereby the FDA deems it safe and effective, paving the way for marketing approval.
“It is a game-changer when treating children, removing the risk and stress of general anaesthesia for patients and caregivers,” said Brad Cannon, president of sports medicine & ear, nose and throat (ENT) at Smith+Nephew, in a release.
“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.”