We are advising Smith+Nephew on the transaction

Davis Polk is advising 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 includes partner Harold Birnbaum and associates Kristy Choi and Jessica L. Teng. The tax team includes partner Michael Mollerus and counsel Elina Khodorkovsky. The executive compensation team includes partner Veronica M. Wissel and associate Kathleen Ginder. The intellectual property and technology transactions team includes partner David R. Bauer and associate Hilary Smith. Partner Jesse Solomon is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.