Smith+Nephew signs distribution agreement with SI-BONE
Rhea-AI Summary
Smith+Nephew (SNN) signed a distribution agreement with SI-BONE to add the iFuse TORQ portfolio, expanding offerings for percutaneous pelvic fracture fixation and sacroiliac joint fusion. The iFuse TORQ TNT has FDA Breakthrough Device Designation and is NTAP-eligible, potentially adding up to $4,136 per procedure in reimbursement.
The deal grants Smith+Nephew access to SI-BONE’s sales channel and aims to deepen surgeon engagement in high-frequency trauma procedures.
Positive
- Portfolio expansion into percutaneous pelvic fracture fixation and SI joint fusion
- Access to SI-BONE’s existing sales channel to broaden surgeon reach
- FDA Breakthrough Device Designation for iFuse TORQ TNT
- NTAP-eligible reimbursement potentially adding up to $4,136 per procedure
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
SNN was up 1.29% pre-news, while close peers were mixed: ZBH +0.78%, PODD +1.44%, PHG -0.03%, STE -1.22%, PEN -0.10%, pointing to stock-specific rather than sector-driven dynamics.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Shoulder acquisition | Positive | +1.9% | Closed Integrity Orthopaedics deal adding Tendon Seam RCR system to portfolio. |
| Oct 27 | Outcomes study data | Positive | +0.3% | Large real-world study showed PICO sNPWT outperformed Prevena in key outcomes. |
| Oct 22 | Sports partnership | Positive | +1.8% | Multi-year extension of global UFC marketing partnership highlighting sports med tech. |
| Oct 09 | Reimbursement milestone | Positive | -0.6% | New Category I CPT code for CARTIHEAL AGILI-C cartilage implant from 2027. |
| Oct 03 | Dressing performance data | Positive | -0.4% | Data showed ALLEVYN COMPLETE CARE dressing absorbs 93% of mechanical energy. |
Recent product, partnership, and data announcements have often led to modest positive moves, though some strong clinical or reimbursement updates have seen short-term sell-offs.
Over the last six months, Smith+Nephew has focused on portfolio expansion and clinical differentiation. On Jan 21 2026, it closed the Integrity Orthopaedics acquisition, with shares up 1.9% in 24 hours. Multiple 2025 releases highlighted comparative outcome data, reimbursement milestones, and new dressing technology, with 24-hour moves generally modest (between roughly -0.6% and +1.75%). Today’s distribution agreement continues the theme of broadening trauma and orthopedics offerings through innovation-focused partnerships.
Market Pulse Summary
This announcement highlights a distribution agreement with SI-BONE that broadens Smith+Nephew’s trauma and extremities portfolio, particularly for percutaneous pelvic fracture fixation and SI joint fusion. The inclusion of iFuse TORQ TNT, supported by an NTAP that may add up to $4,136 per procedure, underscores a focus on both innovation and reimbursement access. In context of prior acquisitions and product launches, investors may watch adoption trends, procedural volumes, and future updates on clinical and economic outcomes.
Key Terms
percutaneous medical
510(k) regulatory
fda breakthrough device designation regulatory
AI-generated analysis. Not financial advice.
Trauma and Extremities partnership aligns disciplined approach to portfolio optimization and focuses on delivering long-term value for surgeons and patients
Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology company, today announced it has signed a distribution agreement with SI-BONE, focused on their innovative iFuse TORQ portfolio. This collaboration expands the Smith+Nephew portfolio offerings for percutaneous pelvic fracture fixation procedures and strengthens our position in high-frequency, high-impact trauma procedures.
“We’re incredibly excited to partner with SI-BONE,” said Scott Gunn, Vice President Trauma, Extremities and Shoulder. “This collaboration reflects a shared commitment to innovation, clinical excellence, and improving patient outcomes. By combining SI-BONE’s industry leadership with Smith+Nephew’s established commercial platform, we see a meaningful opportunity to expand access to differentiated solutions, deepen surgeon engagement, and drive sustainable growth.”
The iFuse TORQ portfolio includes iFuse TORQ TNT and iFuse TORQ implants, offering breakthrough solutions with indications for pelvic fracture fixation and fusion of the sacroiliac (SI) joint.123456
iFuse TORQ TNT is designed specifically to address the anatomical and bone density needs of the sacrum and ilium. iFuse TORQ TNT represents the next generation of technology for pelvic fracture fixation and SI joint fusion, providing a unique market advantage:
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- FDA Breakthrough Device Designation (BDD)7: Recognized for its potential to provide more effective treatment of pelvic fractures compared to traditional cannulated screws.
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- NTAP: Eligible for a Medicare New Technology Add-on Payment, which may provide up to
$4,136 in additional reimbursement per procedure for hospitals using iFuse TORQ TNT.
- NTAP: Eligible for a Medicare New Technology Add-on Payment, which may provide up to
Smith+Nephew will also have access to the broader iFuse TORQ portfolio alongside SI-BONE’s current sales channel, expanding the ability to serve surgeons and patients in this high-need area.
References:
1 iFuse TORQ TNT™ Implant System, 510(k) K241504
2 iFuse TORQ® Implant System, 510(k) K241574
3 iFuse TORQ® Implant System, 510(k) K231689
4 iFuse TORQ® Implant System, 510(k) K222605
5 iFuse TORQ® Implant System, 510(k) K213667
6 iFuse TORQ™ Implant System, 510(k) K203247
7 US Food and Drug Administration, Breakthrough Device Designation (BDD) Q231970
Media Enquiries
Gina Kamler +1 (901) 351-6991
Smith+Nephew gina.kamler@smith-nephew.com
About Smith+Nephew
Smith+Nephew is a portfolio medical technology business focused on the repair, regeneration and replacement of soft and hard tissue. We exist to restore people’s bodies and their self-belief by using technology to take the limits off living. We call this purpose ‘Life Unlimited’. Our 18,000 employees deliver this mission every day, making a difference to patients’ lives through the excellence of our product portfolio, and the invention and application of new technologies across our three global business units of Orthopaedics, Sports Medicine & ENT and Advanced Wound Management.
Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of
For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on LinkedIn, Instagram or Facebook.
About SI Bone
SI-BONE (NASDAQ: SIBN) is a global leader in developing procedural solutions to address clinical challenges associated with compromised bone. With expertise in biomechanical design and anatomy specific innovation, SI-BONE has built a technology platform with market-leading applications centered on the spinopelvic anatomy. SI-BONE continues to leverage the deep experience in addressing the challenges of low-density bone in the sacrum to develop unique technologies that are targeting new clinical adjacencies to help improve outcomes for patients with compromised bone. Since 2009, SI-BONE has supported physicians in performing a total of over 140,000 procedures. A unique body of clinical evidence supports the use of SI-BONE's technologies, including four randomized controlled trials and over 180 peer reviewed publications.
Forward-looking Statements
This document may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected revenue growth and trading profit margins, market trends and our product pipeline are forward-looking statements. Phrases such as "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions are generally intended to identify forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. For Smith+Nephew, these factors include: conflicts in Europe and the Middle East, economic and financial conditions in the markets we serve, especially those affecting healthcare providers, payers and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls or other problems with quality management systems or failure to comply with related regulations; litigation relating to patent or other claims; legal and financial compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers; competition for qualified personnel; strategic actions, including acquisitions and disposals, our success in performing due diligence, valuing and integrating acquired businesses; disruption that may result from transactions or other changes we make in our business plans or organisation to adapt to market developments; relationships with healthcare professionals; reliance on information technology and cybersecurity; disruptions due to natural disasters, weather and climate change related events; changes in customer and other stakeholder sustainability expectations; changes in taxation regulations; effects of foreign exchange volatility; and numerous other matters that affect us or our markets, including those of a political, economic, business, competitive or reputational nature. Please refer to the documents that Smith+Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith+Nephew's most recent annual report on Form 20-F, which is available on the SEC’s website at www. sec.gov, for a discussion of certain of these factors. Any forward-looking statement is based on information available to Smith+Nephew as of the date of the statement. All written or oral forward-looking statements attributable to Smith+Nephew are qualified by this caution. Smith+Nephew does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or in Smith+Nephew's expectations.
FAQ
What did Smith+Nephew announce about the SI-BONE distribution agreement (SNN) on February 23, 2026?
How does the iFuse TORQ TNT designation affect Smith+Nephew (SNN) product positioning?
What is the NTAP reimbursement for iFuse TORQ TNT and what does it mean for hospitals and SNN?
Will Smith+Nephew (SNN) sell the full iFuse TORQ portfolio through this agreement?
What clinical indications are covered by the iFuse TORQ portfolio in the Smith+Nephew (SNN) deal?
How might the SI-BONE partnership affect Smith+Nephew’s (SNN) surgeon engagement strategy?
