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Smith & Nephew Plc

Smith & Nephew Buys ArthroCare for $1.7B

Smith & Nephew (NYSE:SNN) inked a deal on Monday to buy medical-device maker ArthroCare (NASDAQ:ARTC) for $1.7 billion as it bets on sports medicine.The medical device companies, which have worked together in the past through licensing and supply arrangements, will focus on their resection and repair technologies, including those affecting joint, knee and shoulder repair."Together, we will be able to generate significant additional revenue from the more comprehensive portfolio, combined sales force and Smith & Nephew's global footprint," Smith & Nephew CEO Olivier Bohuon said in a statement.The deal will also expand their global footprint, enabling Smith & Nephew to cross-sell their combined portfolio and take advantage of cost and revenue synergies, which are expected to mount to roughly $85 million in the third full year after the acquisition closes.Smith & Nephew says the money saved will help to offset a projected $100 million in integration costs incurred over a three-year period....

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