Smith & Nephew completes Healthpoint acquisition
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."