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(Johan Swanepoel/Getty Images/iStockphoto)

Smith & Nephew tackles a wounded rival

Smith & Nephew is jumping on a wounded rival. The British medical technology giant has agreed to buy ArthroCare, a U.S. specialist in sports medicine, for an enterprise value of $1.5-billion (U.S.). Treating injured athletes is a faster-growing business than selling artificial hips and knees, Smith & Nephew’s traditional focus. And because of the target’s own self-inflicted injuries, the buyer is paying the slimmest of premiums.