UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
January
12, 2026
Commission
File Number 001-14978
SMITH & NEPHEW plc
(Registrant’s
name)
Building 5, Croxley Park, Hatters Lane
Watford, England, WD18 8YE
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F ✔
Form 40-F
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Smith+Nephew strengthens shoulder repair portfolio with acquisition
of sports medicine business Integrity Orthopaedics and its novel
Tendon Seam™ rotator cuff repair technology
12 January 2026
Smith+Nephew (LSE: SN, NYSE: SNN), the global medical technology
company, today announces the acquisition of Integrity Orthopaedics,
a US-based early-stage commercial developer of Tendon Seam™,
an innovative rotator cuff repair (RCR) system designed to
significantly reduce re-tear rates and improve patient
outcomes.
The acquisition represents a meaningful step in delivering
Smith+Nephew's RISE strategy to accelerate growth through strategic
investment and portfolio leadership, and will be an important
building block in our ambition to become the global leader in
Sports Medicine.
RCR is a substantial and growing treatment area, with approximately
500,000 procedures performed annually in the US and an estimated
market value of $875 million1.
Yet traditional surgical techniques have historically suffered from
high structural failure rates, averaging 20-40%2.
Tendon Seam™ directly addresses this unmet clinical need. Its
patented micro-anchors, continuous suture, individually locked
stitches, and integrated implantation instrument are designed to
deliver stronger repairs, accelerated patient recovery, lower
re-tear rates, and a simplified surgical technique. Early clinical
experience indicates low re-tear rates, reduced sling times and
shorter procedures compared with standard
methods3.
The system received 510(k) clearance in 2023 and is indicated for
reattachment of soft tissue to bone, including tendons, ligaments,
and joint capsules.
Integrity Orthopaedics was founded in 2020 and is headquartered in
Maple Plain, MN, US. Its founders include Tom Westling, co-founder
of Rotation Medical, the developer of the
REGENETEN◊ Bioinductive
Implant, which was acquired by Smith+Nephew in
2017.
Scott Schaffner, President Sports Medicine, Smith+Nephew,
said:
"Smith+Nephew now has an unrivalled portfolio for shoulder,
including a powerful next-generation rotator cuff repair platform
to complement market-leading biological augmentation, the newest
shoulder arthroplasty system, and proven solutions across shoulder
instability. We welcome the Integrity team, including those
involved with our prior successful acquisition of Rotation Medical,
and look forward to working together again to offer customers and
their patients this exciting technology."
Tom Westling, Chief Executive Officer of Integrity Orthopaedics,
said:
"Integrity Orthopaedics was founded to change the paradigm of
rotator cuff repair to improve the lives of patients and surgeons.
We are excited by Tendon Seam's™ early results which indicate
reduced pain, shorter sling times, and low retear/failure rates.
Tendon Seam's™ promising performance combined with
Smith+Nephew's track record launching innovative products, which I
experienced firsthand with REGENETEN, give me confidence we will
together change the standard of care in soft tissue
repair."
Ryan Majkrzak, President at Integrity Orthopaedics,
said:
"Smith+Nephew is the ideal partner to accelerate the launch of
Tendon Seam™ and enable this novel technology to best serve
surgeons and patients worldwide. We are thrilled to be joining the
Smith+Nephew team and its impressive portfolio of shoulder repair
solutions."
Smith+Nephew's portfolio for shoulder
Tendon Seam™ enhances Smith+Nephew's extensive shoulder
repair offering, which spans technologies for both replacement and
repair. This includes:
● REGENETEN
Bioinductive Implant - used in 200,000+ rotator cuff procedures in
the last decade, and shown to support new tissue growth and
improved healing4,5.
● Q-FIX◊ All-Suture
Anchor - delivering market-leading fixation strength with a decade
of clinical performance6-12.
● AETOS◊ Shoulder
System - launched in 2024, designed for both anatomic and reverse
total shoulder arthroplasty, supporting a fast-growing US shoulder
replacement segment estimated at 250,000 procedures in
202513.
Together, these technologies provide surgeons with one of the
broadest and most advanced portfolios for managing shoulder
pathology, spanning biological enhancement, mechanical repair, and
replacement.
Transaction details
Under the terms of the transaction, Smith+Nephew will
acquire Integrity
Orthopaedics for
an initial cash payment of US$225 million plus additional
performance-based payments of up to US$225 million over the next
five years. The transaction is expected to be accretive to Group
trading profit margin by 2028.
The acquisition will be financed from Smith+Nephew's existing cash
facilities and the Group remains below its leverage target of 2x
EBITDA.
The transaction is expected to close before the end of January
2026.
References
1. SmartTRAK,
2025, Shoulder Soft Tissue
Fixation, 2025 BioMedGPS -
SmartTRAK.
2. Hein J, et
al. Arthroscopy. 2015;31(11):2274-2281.
3.
Data on File at Integrity Orthopaedics.
4.
Camacho Chacón JA, Roda Rojo V, Martin Martinez A, Cuenca
Espierrez J, Garcia Calvo V, Calderón Meza JM, Martin
Hernandez C. An isolated bioinductive repair vs. sutured repair for
full-thickness rotator cuff tears: 2-year results of a double
blinded, randomized controlled trial. J Shoulder Elbow Surg,
2024.
5.
Ruiz Ibán M, García Navlet M, Moros Marco S, Diaz Heredia
J, Hernando Sánchez A, Ruiz Díaz R, Vaquero Comino C,
Rosas Ojeda ML, Del Monte Bello G, Ávila Lafuente JL.
Augmentation of a Transosseous-Equivalent Repair in Posterosuperior
Nonacute Rotator Cuff Tears With a Bioinductive Collagen Implant
Decreases the Retear Rate at 1 Year: A Randomized Controlled Trial.
Arthroscopy 40(6): 1760, 2024.
6.
ArthroCare Corporation 2017. Report: Design Verification, 1.8mm
Q-FIX MINI Soft Suture Anchor. P/N 49190-03 Rev. B.
7. Barber FA, Herbert MA. All-Suture
Anchors: Biomechanical Analysis of Pullout Strength, Displacement,
and Failure Mode. Arthroscopy. 2017;33(6):1113-1121.
8. Douglass NP, Behn AW, Safran MR.
Cyclic and Loadto Failure Properties of All-Suture Anchors in
Synthetic Acetabular and Glenoid Cancellous
Bone. Arthroscopy. 2017;33(5):977-985
e975.
9. Ruder
JA, Dickinson EY, Peindl RD, Habet NA, Trofa DP, Fleischli
JE. Cyclic
and Load-to-Failure Properties of All-Suture Anchors in Human
Cadaveric Shoulder Glenoid Bone. Arthroscopy. 2019;35(7):1954-1959
e1954.
10.
Smith+Nephew 2023. Q-FIX with MINITAPE Claims Report. Internal
Report. 10090792- Revision B.
11.
Smith+Nephew 2024 Internal Report, 10144423 Rev B.
12. Ergun S, Akgun U, Barber A, Karahan M.
The Clinical and Biomechanical Performance of All-Suture Anchors: A
Systematic Review. Arthroscopy. 2020;
2(3): e263-e275.
13.
SmartTRAK Report, 2023.
Enquiries
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Investors
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Emily Heaven
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+44 (0) 7811 919437
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Craig Bijou
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+1 (475) 850-8282
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Smith+Nephew
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Media
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Charles Reynolds
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+44 (0) 1923 477314
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Smith+Nephew
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Susan Gilchrist / Ayesha Bharmal
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+44 (0) 20 7404 5959
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Brunswick
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About Integrity
Orthopaedics
Integrity Orthopaedics was founded in 2020 and is headquartered in
Maple Plain, MN, US. Its founders include Tom Westling, co-founder
of Rotation Medical, the developer of the REGENETEN Bioinductive
Implant, which was acquired by Smith+Nephew in 2017, as well as
David Crompton, Chief IP & General Counsel at Integrity
Orthopaedics and former Chief Patent Counsel for Rotation Medical,
and distinguished surgeons Patrick Connor, MD, FAOA, Howard Harris,
MD and Marc Labbe, MD.
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on
the repair, regeneration and replacement of soft and hard tissue.
We exist to restore people's bodies and their self-belief by using
technology to take the limits off living. We call this purpose
'Life Unlimited'. Our 17,000 employees deliver this mission every
day, making a difference to patients' lives through the excellence
of our product portfolio, and the invention and application of new
technologies across our three global business units of
Orthopaedics, Sports Medicine & ENT and Advanced Wound
Management.
Founded in Hull, UK, in 1856, we now operate in more than 100
countries, and generated annual sales of $5.8 billion in 2024.
Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN).
The terms 'Group' and 'Smith+Nephew' are used to refer to Smith
& Nephew plc and its consolidated subsidiaries, unless the
context requires otherwise.
For more information about Smith+Nephew, please
visit www.smith-nephew.com and follow
us on LinkedIn, Instagram, Facebook or X.
Forward-looking Statements
This document may contain forward-looking statements that may or
may not prove accurate. For example, statements regarding expected
revenue growth and trading profit margins, market trends and our
product pipeline are forward-looking statements. Phrases such as
"aim", "plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions
are generally intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause actual
results to differ materially from what is expressed or implied by
the statements. For Smith+Nephew, these factors include: conflicts
in Europe and the Middle East, economic and financial conditions in
the markets we serve, especially those affecting healthcare
providers, payers and customers; price levels for established and
innovative medical devices; developments in medical technology;
regulatory approvals, reimbursement decisions or other government
actions; product defects or recalls or other problems with quality
management systems or failure to comply with related regulations;
litigation relating to patent or other claims; legal and financial
compliance risks and related investigative, remedial or enforcement
actions; disruption to our supply chain or operations or those of
our suppliers; competition for qualified personnel; strategic
actions, including acquisitions and disposals, our success in
performing due diligence, valuing and integrating acquired
businesses; disruption that may result from transactions or other
changes we make in our business plans or organisation to adapt to
market developments; relationships with healthcare professionals;
reliance on information technology and cybersecurity; disruptions
due to natural disasters, weather and climate change related
events; changes in customer and other stakeholder sustainability
expectations; changes in taxation regulations; effects of foreign
exchange volatility; and numerous other matters that affect us or
our markets, including those of a political, economic, business,
competitive or reputational nature. Please refer to the documents
that Smith+Nephew has filed with the U.S. Securities and Exchange
Commission under the U.S. Securities Exchange Act of 1934, as
amended, including Smith+Nephew's most recent annual report on Form
20-F, which is available on the SEC's website at www. sec.gov, for
a discussion of certain of these factors. Any forward-looking
statement is based on information available to Smith+Nephew as of
the date of the statement. All written or oral forward-looking
statements attributable to Smith+Nephew are qualified by this
caution. Smith+Nephew does not undertake any obligation to update
or revise any forward-looking statement to reflect any change in
circumstances or in Smith+Nephew's expectations.
◊ Trademark
of Smith+Nephew. Certain marks registered in US Patent and
Trademark Office.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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Smith & Nephew plc
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(Registrant)
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Date:
January 12, 2026
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By:
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/s/
Helen Barraclough
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Helen
Barraclough
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Company
Secretary
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