Smith & Nephew, the global medical technology business, agreed to acquire Osiris Therapeutics, a fast growing company delivering regenerative medicine products, including skin, bone graft and articular cartilage substitutes, for $19 per share in cash, representing a total equity value of approximately $660m. Smith & Nephew will commence a two-step tender offer to purchase all of the outstanding shares of Osiris common stock for $19 per share in cash. The purchase price represents a 37% premium over the 90-day volume weighted average price of Osiris' shares. "Greater presence in the fast growing regenerative medicine market enhances our portfolio and will help immediately accelerate our wound management business as well as provide longer term innovations in additional channels and indications. We sought out a fast growing portfolio with strong clinical evidence addressing critical needs in the marketplace," Namal Nawana, Smith & Nephew Chief Executive Officer.