Smith & Nephew Grants $300,000 to InMotion

By Toby Sells | Memphis Business Journal | August 20, 2007

Smith & Nephew Inc. will give InMotion Musculoskeletal Institute $300,000 over three years to expand the institute's research capabilities.

In return for the charitable donation, InMotion will name Smith & Nephew to its list of Founding Funders, those who helped establish the institute. Also, InMotion will grant future naming rights to the company.

"This is an economic stimulus package," said InMotion executive director Richard Tarr in a statement. "These funds will allow InMotion to win future contracts from Smith & Nephew, as well as other biotechnology companies with an interest in orthopedics." Smith & Nephew's orthopedic reconstruction division president Joseph DeVivo said helping InMotion helps Smith & Nephew.

"We just feel that InMotion is going to be a big part of the musculoskeletal world," he said. "This support will help the institute to grow and make InMotion more able to serve the needs of companies like Smith & Nephew."

InMotion is an independent nonprofit laboratory that aims to improve musculoskeletal treatments and outcomes through translational research. InMotion opened its first laboratory in January 2007 and is recruiting clinician scientists through a joint appointment with the University of Tennessee Health Science Center and Campbell Clinic.

Smith & Nephew (NYSE: SNN) is a global medical technology business with 8,800 employees worldwide. It operates in 31 countries and generates annual sales of nearly $2.8 billion. The company's orthopedic reconstruction and orthopedic trauma and clinical therapies divisions are based in Memphis.