Smith & Nephew leans on debt for Osiris buy
UK medical equipment manufacturer Smith & Nephew has agreed to buy US firm Osiris Therapeutics using cash and debt, as consolidation in the healthcare sector continues to provide one of the few bright spots for M&A activity this year.
Smith & Nephew said it would buy regenerative medicine company Osiris for $19 a share in cash, valuing the target company at around $660m and a 37% premium to the 90 day weighted volume of the target’s shares at pre-announcement levels.
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