Smith & Nephew (NYSE:SNN) said today that it closed both its $660 million acquisition of Osiris Therapeutics (NSDQ:OSIR) and its purchase of Leaf Healthcare and its Leaf Patient Monitoring System.
The London-based company said that it paid $19 per share in cash for Osiris, which develops and produces regenerative medicine products including skin, bone grafts and articular cartilage substitutes.
The deal is a 37% premium on the 90-day volume-weighted average for Osiris’s common shares. As part of the acquisition, Osiris’s 360 employees will be joining Smith & Nephew, the companies said. The companies originally announced the deal in March.
Osiris Therapeutics reported sales of $142.8 million for its 2018 fiscal year. Smith & Nephew expects the acquisition to accelerate growth in its advanced wound management franchise, according to a press release.
Smith & Nephew also said that it closed its acquisition of Leaf Healthcare, according to a separate press release.
The company said that the acquisition follows a successful two-year partnership deal with Pleasanton, Calif.-based Leaf Healthcare in which Smith & Nephew served as its exclusive distributor and as a strategic investor.
Leaf Healthcare’s flagship product is their Leaf patient monitoring system, which features a wearable wireless sensor designed to track patient movement and notify caregivers to prevent immobility-related health complications, such as pressure ulcers or injuries.
Smith & Nephew said that the Leaf system will join the Allevyn Life, Allevyn Gentle Border and Secura skin care products in its pressure injury prevention portfolio.
The company did not release details of the acquisition, which was announced earlier this month.
