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by Sara Calabro
Med Tech Sentinel



The two founders of BlueSky Medical Group, a private med tech company based in Carlsbad, CA, stand to make up to $110 million off a deal with Smith & Nephew (SNN). The British giant announced today that it has agreed to buy BlueSky, which makes products for treating chronic wounds using megative pressure wound therapy (NPWT), for an initial payment of $15 million, with additional milestone payments of up to $95 million related to revenues and other events.

The large payout may prove well worth it for Smith & Nephew. NPWT — a technology used to treat chronic wounds such as diabetic ulcers, pressure sores, and post-operative and hard-to-heal wounds — is the fastest growing segment of the wound care market. It has expanded rapidly in recent years, and in 2006, was estimated at $1.2 billion. The market is reportedly growing at an annual rate of 12% in the U.S. and greater than 25% in markets outside the states. The aquisition gives Smith & Nephew a stake in what was previously uncharted territory for the company. BlueSky founders Richard Weston and Tim Johnson have agreed to help integrate the business into Smith & Nephew’s Advanced Wound Management division.

BlueSky makes a range of negative pressure pumps and wound dressing kits, most of which are based on its Versatile 1 technology, which uses controlled negative pressure to accelerate the healing process.



Source: Med Tech Sentinel
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