CartiHeal, a privately-held medical device company with headquarters in Israel, has been bought by Smith+Newphew, a global leader in sports medicine, for up to USD 330 million.

CartiHeal develops the Agili-C implant, a novel technology for cartilage regeneration in the knee,

Shibolet advised CartiHeal, its founder and CEO on the transaction. The Corporate team comprised Einat Weidberg, Dani Kariv, Yearit Simchon, Kfir Widawski, Keren Gugel Bond and Amit Levy, with the support of Galit Ofer and Meyrav Oren.

Goldfarb Gross Seligman advised Smith+Nephew, led by corporate partner Ido Zemach, included partner Ronen Hausirer, associates Nicole Dillon and Ella Dekel of the firms International and Hi-Tech Department; tax team included partners Yaron Sever, Shirit Nackar and Sagit Shoval-Moked, as well as associates Lidor AlmasyandYarden Ravivo; and labor team included partner Revital Shprung-Levy and associate Omer Elisha. Partner Shira Gorodetsky and associate Lee J. Kind are providing environmental law advice.

Davis Polk also advised Smith+Nephew on the acquisition, which is expected to close in the first quarter of 2024.

Its Corporate team includes partner Harold Birnbaum and associates Steven Jaffe and Shuhan Zhang. Partner David R. Bauer and associate Adrian Rabin are providing intellectual property advice. The tax team includes partner Michael Mollerus and associate Dmitry Dobrovolskiy. Partner Veronica M. Wissel and associate Chloe Wang are providing executive compensation advice. 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.

Founded in Hull, UK, in 1856, Smith+Nephew is a portfolio medical technology business focused on the repair, regeneration and replacement of soft and hard tissue. The company now operates in more than 100 countries and generated annual sales of USD5.2 billion in 2022.