21st December 2012
Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, today announces the completion of the acquisition of substantially all the assets of Healthpoint Biotherapeutics (“Healthpoint”). The purchase price of $782 million in cash has been financed from Smith & Nephew’s existing cash resources and bank facilities.
The acquisition gives Smith & Nephew a strong position in bioactives, the fastest growing area of advanced wound management.
Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said:
”We are delighted to welcome Healthpoint to Smith & Nephew. Its bioactives platform perfectly complements our exudate and infection management and negative pressure expertise. Our Advanced Wound Management division has consistently outperformed the market growth rate in recent years. We expect to make further progress as we build upon our unique breadth of products to help customers meet the growing human and economic cost of wounds.”
+44 (0) 20 7401 7646
Smith & Nephew
+44 (0) 20 7401 7646
Smith & Nephew
Andrew Mitchell / Justine McIlroy
+44 (0) 20 7404 5959
About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping improve people's lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma, Smith & Nephew has almost 11,000 employees and a presence in more than 90 countries. Annual sales in 2011 were nearly $4.3 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
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