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Smith & Nephew Plc - Smith+Nephew Completes Orthopaedics Acquisition

RNS Number : 5130K
Smith & Nephew Plc
04 January 2021
 

 

Smith+Nephew completes Extremity Orthopaedics acquisition

 

4 January 2021

 

 

Smith+Nephew (LSE:SN, NYSE:SNN), the global medical technology business, announces that it has completed the acquisition of the Extremity Orthopaedics business of Integra LifeSciences Holdings Corporation (NASDAQ:IART) for $240 million.

 

The acquisition supports Smith+Nephew's strategy to invest in higher-growth segments. It will significantly strengthen Smith+Nephew's extremities business by adding a combination of a focused sales channel, complementary shoulder replacement and upper and lower extremities portfolio, and an exciting new product pipeline. This includes a next-generation shoulder replacement system, which is expected to be ready for full commercial launch in 2022.

 

Skip Kiil, President, Global Orthopaedics at Smith+Nephew, said:

 

"We are excited to secure this established global business in the rapidly growing extremities segment. Its portfolio, specialised sales channel and product pipeline all strengthen our business and we look forward to welcoming our new colleagues to Smith+Nephew."

 

 

Enquiries

Investors

Andrew Swift

+44 (0) 1923 477433

Smith+Nephew

   

   

Media


Charles Reynolds

+44 (0) 1923 477314 

Smith+Nephew

  

    

    

Susan Gilchrist / Ayesha Bharmal 

+44 (0) 20 7404 5959

Brunswick 


 

 

About Smith+Nephew 

 

Smith+Nephew is a portfolio medical technology business that exists 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 17,500+ 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 franchises of Orthopaedics, Advanced Wound Management and Sports Medicine & ENT. Founded in Hull, UK, in 1856, we now operate in more than 100 countries, and generated annual sales of $5.1 billion in 2019. Smith+Nephew is a constituent of the FTSE100 (LSE:SN, NYSE:SNN). The terms 'Group' and 'Smith+Nephew' are used to refer to Smith & Nephew plc and its consolidated subsidiaries, unless the context requires otherwise.

 

For more information about Smith+Nephew, please visit www.smith-nephew.com and follow us on Twitter, LinkedIn, Instagram or Facebook. 

 

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: risks related to the impact of COVID-19, such as the depth and longevity of its impact, government actions and other restrictive measures taken in response, material delays and cancellations of elective procedures, reduced procedure capacity at medical facilities, restricted access for sales representatives to medical facilities, or our ability to execute business continuity plans as a result of COVID-19; economic and financial conditions in the markets we serve, especially those affecting health care providers, payers and customers (including, without limitation, as a result of COVID-19); 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 compliance risks and related investigative, remedial or enforcement actions; disruption to our supply chain or operations or those of our suppliers (including, without limitation, as a result of COVID-19); competition for qualified personnel; strategic actions, including acquisitions and dispositions, 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; 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, 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.

 ◊ Trademark of Smith+Nephew. Certain marks registered US Patent and Trademark Office.

 

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