Smith+Nephew Buys Tula System Developer Tusker Medical; Terms Not Disclosed

(RTTNews) - Medical technology business Smith+Nephew Plc (SN.L, SNN) Friday announced that it has acquired Tusker Medical, Inc., a California-based developer of the Tula System. The commercial terms have not been disclosed.

Tula System is an in-office solution for tympanostomy tubes, commonly known as ear tubes. The Tula system enables placement of ear tubes in the physician's office without general anaesthesia for patients six months and older.

Tula received Breakthrough Device designation from the FDA, and in November 2019 received pre-market approval.

Tula consists of the Tula Iontophoresis System that induces local anaesthesia using TYMBION and the Tula Tube Delivery System that creates a myringotomy and inserts a tympanostomy tube.

Smith+Nephew said the acquisition of Tusker is highly complementary to its existing ENT business, with the same customer and patient populations.

Smith+Nephew's COBLATION technology is widely used in tonsillectomy and soft tissue management, and is used by both general and paediatric ENT surgeons.

Smith+Nephew expects to begin commercial launch of Tula in the US in the first quarter of 2020. All Tusker employees are expected to join Smith+Nephew.

The transaction was financed from existing cash and debt facilities.