Smith & Nephew acquires Leaf Healthcare as 2019 buying spree continues
The medical equipment giant has bases around the world
By Hull Daily Mail | Posted: 1 Apr 2019
FTSE medical giant Smith & Nephew has continued its 2019 buying spree with the acquisition of US tech firm Leaf Healthcare.
Leaf Healthcare designed a unique device worn by patients in hospital, which can monitor their movements and alert staff when they need turning over in bed to avoid pressure injuries.
Hull-headquartered Smith & Nephew has now bought the American firm for an undisclosed fee, in a move which comes hot on the heels of two other purchases in 2019.
Simon Fraser, president of advanced wound management at Smith & Nephew, said: “Consistent with our initial strategic investment, Smith & Nephew is focused on providing not just products to treat conditions, but also supporting clinicians with technologies designed for prevention as well as treatment, and helping healthcare facilities reduce the cost of care.
“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.”
The acquisition follows Smith & Nephew’s successful two-year partnership with Leaf Healthcare as an exclusive distributor and strategic investor.
The deal is expected to be concluded by the end of June 2019. Commercial terms have not been disclosed.
The wearable device Leaf Healthcare designed shows how long a patient has been sleeping on one side.
It gives medical staff alerts as to when they need turning or moving, and can also track their movements around the hospital if they leave their bed.
An app which accompanies the device records how long the patient has been asleep on each side for.
Barrett Larson, managing director and co-founder at Leaf Healthcare, said: “The benefits of patient turning and improved patient mobility are well recognised, including the potential for shorter hospital stays.
“We are proud of the impact our technology has already made through our existing relationship with Smith & Nephew.
“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.”
Smith & Nephew hinted at the start of 2019 that it would seek new acquisitions to boost growth.
It has now completed four major deals in the first three months of the year.
The business bought medical tech firm Ceterix for up to £80m in January, and followed it up with the double deals in March.