Smith & Nephew completes acquisition of Healthpoint Biotherapeutics
Global medical technology company Smith & Nephew announced Monday it has completed the acquisition of a substantial stake in Healthpoint Biotherapeutics.
Global medical technology company Smith & Nephew announced Monday it has completed the acquisition of a substantial stake in Healthpoint Biotherapeutics.
The FTSE 100 company paid $782m in cash for the assets, financed from the existing cash resources and bank facilities. The transaction increases Smith & Nephew's position in bioactives, the fastest growing area of advanced wound management.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"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."
Smith & Nephew is a global medical technology business with a strong focus in orthopaedic reconstruction, advanced wound Management, sports medicine and trauma.
The company, which has about 11,000 employees, reported $4.3bn in annual sales for 2011.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
IFS: Wealthier areas set to pay more council tax under government plans
Council tax reforms could see households in wealthy areas, including London and the home counties, hit with big bill increases, according to the Institute for Fiscal Studies
-
5 of the best luxury cruise lines to see the world with five-star service
From onboard butlers who will unpack for you to visiting more unique destinations, there are plenty of reasons to indulge in a luxury cruise