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THE TAPE

adsilico raises 10 million pounds to test implants on virtual patients X9 wins a Breakthrough designation for power-assisted dialysis cannulation Smith+Nephew and J&J ortho merger talks collapse over who would run it Rivanna clears a machine learning bone overlay for its Accuro XV ultrasound Teleflex takes a Breakthrough designation for its resorbable magnesium scaffold in PCI Edwards wins FDA approval for Pascal Precision in tricuspid repair EQT agrees to take Qiagen private for 10.8 billion euros Elucid clears FFR-IQ under K262015 and folds plaque biology into FFR-CT Nova Biomedical pulls Gen 2.0 StatStrip glucose meters over stale barcode scans adsilico raises 10 million pounds to test implants on virtual patients X9 wins a Breakthrough designation for power-assisted dialysis cannulation Smith+Nephew and J&J ortho merger talks collapse over who would run it Rivanna clears a machine learning bone overlay for its Accuro XV ultrasound Teleflex takes a Breakthrough designation for its resorbable magnesium scaffold in PCI Edwards wins FDA approval for Pascal Precision in tricuspid repair EQT agrees to take Qiagen private for 10.8 billion euros Elucid clears FFR-IQ under K262015 and folds plaque biology into FFR-CT Nova Biomedical pulls Gen 2.0 StatStrip glucose meters over stale barcode scans

Merger

Smith+Nephew and J&J ortho merger talks collapse over who would run it

MedDevice Startups Staff · 4 days ago · 2 min read · Via MassDevice

Smith+Nephew said on October 23 that talks to merge its orthopedics business with Johnson & Johnson's have stopped. The Financial Times reported the breakdown first. The sticking point was leadership. Smith+Nephew opposed installing Namal Nawana, J&J's former orthopedics chief, atop the combined company.

The structure under discussion left J&J shareholders with 50.1 percent. Smith+Nephew planned a $10 billion dividend to J&J to bridge the valuation gap. Smith+Nephew's market capitalization sits near $12.7 billion. The two sides had been aiming to announce in mid-October.

J&J said earlier this month it wants DePuy Synthes separated by mid-2027. That separation now goes ahead on its own. For the contract manufacturers and instrument suppliers who were modeling one consolidated ortho customer, the account list stays as it is.

Questions & Answers

Why did the Smith+Nephew and Johnson & Johnson orthopedics merger talks fail?

The talks collapsed over leadership. Smith+Nephew opposed the plan to put Namal Nawana, Johnson & Johnson's former orthopedics chief, in charge of the combined business. Smith+Nephew confirmed the breakdown on October 23, 2026.

What structure was proposed for the Smith+Nephew and J&J orthopedics deal?

Under the structure discussed, Johnson & Johnson shareholders would have owned 50.1 percent of the combined orthopedics company, and Smith+Nephew planned a $10 billion dividend to Johnson & Johnson to close the valuation gap.

What happens to DePuy Synthes now?

Johnson & Johnson said in October 2026 that it plans to separate DePuy Synthes by mid-2027. With the Smith+Nephew talks over, that separation proceeds without a merger partner.

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