Smith & Nephew (SNN) to Acquire BlueSky Medical Group
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Smith & Nephew plc (NYSE: SNN) announces that its Advanced Wound Management business has agreed to purchase BlueSky Medical Group, Inc, a privately-held company headquartered in Carlsbad, California, from its founders for an initial payment of $15 million.
Smith & Nephew has agreed to pay $15 million initially with further milestone payments of up to $95 million related to revenues and other events. BlueSky had revenues of approximately $11 million from its distributors in 2006.
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