The companies previously announced the planned divestiture, worth $240 million, in September 2020.
At the time, London-based Smith+Nephew said that the acquisition would significantly strengthen its extremities business by adding a combination of a focused sales channel and complimentary shoulder replacement and upper and lower extremities portfolios, plus a new product pipeline.
Integra’s commercial sales force to be inherited by Smith+Nephew focuses predominantly in the U.S. with further sales and distribution in Canada and Europe.
The inherited portfolio includes devices, implants and instruments designed for shoulder replacement and reconstruction of bone in the hand, wrist and elbow, along with the foot and ankle. Additionally, the pipeline includes a next-generation shoulder replacement system expected to be ready for full commercial launch in 2022.
When initially announced in the fall of last year, Smith+Nephew said it expects around 300 employees to join once the acquisition is completed, with the business operating from facilities in Austin, Texas and Lyon, France.
“With this divestiture, we will now be in an even stronger position to capitalize on our core products and technologies in neurosurgery and regenerative medicine, and provide greater value to our customers and shareholders,” Integra president & CEO Peter Arduini said in a news release. “We want to thank the orthopedics team for their contributions to Integra’s success and wish them all the best for their future.”