British medical equipment manufacturing company Smith & Nephew PLC has agreed to purchase U.S. Osiris Therapeutics Inc., a regenerative medicine products developer and manufacturer, for $19 per share in cash.
Osiris Therapeutics will be bought in a deal that represents about $660 million in total equity value.
Smith & Nephew said that greater presence in the fast-growing regenerative medicine market advances its portfolio and will help immediately enhance the company’s wound management business.
The parties expect to finalize the deal in the second quarter of 2019, subject to customary closing conditions.