Smith & Nephew invests in product development through acquisition of world’s leading biomechanical software company, LifeModeler
April 2, 2012
Smith & Nephew (LSE:SN NYSE:SNN), the global medical technology business, announces the acquisition of LifeModeler, Inc. (LMI), the leading provider of biomechanical human body simulation tools and services.
LMI’s groundbreaking software shortens the time taken to develop new products by enabling the evaluation of innovations in a virtual model of the human body. New orthopeadic products can be tested and validated faster, further and more cost effectively prior to the production of a physical prototype.
Smith & Nephew has worked with LMI for more than 10 years and has used LMI’s LifeMOD© human simulation tool in developing several key products.
“Smith & Nephew’s history of developing innovative medical technology and its increasing investment in R&D convinced us that this was the right opportunity to take our business forward.” said Shawn McGuan, the CEO of LMI, who will continue to lead the business within Smith & Nephew. “We share a vision to bring forward new products that help clinicians improve the quality of life for patients.”
“We’re extremely pleased to welcome LMI and their employees into Smith & Nephew,” said Gaurav Agarwal, Senior Vice President of Smith & Nephew’s Advanced Surgical Devices division. “This addition will help us shorten the time it takes to safely deliver current product enhancements to the operating room, as well as helping us to develop the next generation of orthopaedic implant innovations.”
Privately owned LMI is based in San Clemente, California. The business has been acquired through Smith & Nephew’s US subsidiary Smith & Nephew, Inc. The terms of the transaction have not been disclosed.
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