Smith+Nephew’s Acquisition of Engage Surgical

Davis Polk advised Smith+Nephew on its acquisition of Engage Surgical.

The cost of the acquisition is up to $135 million contingent on sales performance.

Smith+Nephew is a portfolio medical technology business that exists to restore people’s bodies and their self-belief by using technology to take the limits off living. Engage Surgical is the owner of the only cementless unicompartmental knee (partial knee) system commercially available in the United States. The Engage Surgical Partial Knee System is a unique, modern cementless knee implant to serve a resurgent segment driven by the potential for better long-term fixation through biologic integration, shorter operating times and the shift to ambulatory surgery centers (ASCs).

The Davis Polk corporate team included partner Harold Birnbaum (Picture) and associates Kristy Choi and Jessica L. Teng. The tax team included partner Michael Mollerus and counsel Elina Khodorkovsky. The executive compensation team included partner Veronica M. Wissel and associate Kathleen Ginder. The intellectual property and technology transactions team included partner David R. Bauer and associate Hilary Smith. Partner Jesse Solomon provided antitrust and competition advice.

Involved fees earner: David Bauer – Davis Polk & Wardwell; Harold Birnbaum – Davis Polk & Wardwell; Kristy Choi – Davis Polk & Wardwell; Kathleen Ginder – Davis Polk & Wardwell; Elina Khodorkovsky – Davis Polk & Wardwell; Michael Mollerus – Davis Polk & Wardwell; Hilary Smith – Davis Polk & Wardwell; Jesse Solomon – Davis Polk & Wardwell; Jessica Teng – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Smith & Nephew;