Smith & Nephew plc (LSE:SN.) entered into a definitive agreement to acquire CartiHeal (2009) Ltd. for $330 million on November 22, 2023. Under the terms of transaction, initial cash consideration of $180 million at closing and up to a further $150 million contingent on financial performance will be paid. The acquisition will be financed from existing cash and debt facilities.

All CartiHeal employees are expected to transfer to Smith+Nephew. The transaction is expected to close in the first quarter of 2024. JPMorgan Chase & Co.

(NYSE:JPM) acted as financial advisor to CartiHeal (2009) Ltd. Harold Birnbaum, David R. Bauer, Michael Mollerus, Veronica M. Wissel and Jesse Solomon of Davis Polk & Wardwell LLP acted as legal advisor to Smith & Nephew plc (LSE:SN.). BofA Securities acted as exclusive financial advisor to Smith+Nephew.