Smith and Nephew to buy Rotation Medical for up to 210 million dollars

LONDON: Medical technology group Smith and Nephew, which has been urged by activist investor Elliott Management to shed some operations according to media reports, has agreed to buy a U.S. tissue repair business for up to $210 million.

The British company, best known for its replacement hips and knees, said on Monday it would pay an initial $125 million to acquire unlisted Rotation Medical and up to $85 million over the next five years if certain financial targets are hit.

(Reporting by Ben Hirschler; editing by Jason Neely)