Irish medical technology film Medtronic has agreed to acquire Smith & Nephew's gynecology (GYN) business for about $350m.
The acquisition, which is expected to be completed by the end of this summer, allows Medtronic to provide less invasive treatments for women with abnormal uterine bleeding (AUB).
Smith & Nephew’s GYN portfolio includes Truclear system, which will be used to remove abnormal uterine tissue such as polyps and fibroids.
Currently available across the US and parts of Europe, the Truclear system is a less invasive treatment option to surgical procedures such as a hysterectomy.
According to Medtronic, the Truclear is a minimally invasive surgical option that can be carried out as an outpatient procedure.
Medtronic minimally invasive therapies group’s surgical innovations business president Chris Barry said: "We believe gynecology is one of the most underserved specialty procedure areas. Smith & Nephew has developed a rapidly growing business that expands minimally invasive treatment options for gynecology patients.
"This acquisition expands our existing GYN portfolio and we believe creates opportunities to further explore and develop global therapies and solutions that improve GYN surgery."
About 100 million women currently suffer from AUB across the globe and less than 15% receive treatment annually.
AUB can be treated using medical therapy, dilation and curettage, polypectomy, global endometrial ablation, hysterectomy, myomectomy and electrical hysteroscopic tissue resection.
Image: Medtronic operational headquarters, Minneapolis. Photo: courtesy of Medtronic, Inc.