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Smith & Nephew Inc. (SNN) to Acquire Brazilian Distribution


4/2/2013 6:37:06 AM

2 April 2013 -- Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, today announces an agreement to acquire assets related to the distribution business for its sports medicine, orthopaedic reconstruction and trauma products in Brazil, currently conducted through Pró Cirurgia Especializada (PCE).

The acquisition is in line with Smith & Nephew’s strategic priority to supplement its organic growth through acquisitions and to build sustainable businesses in the Emerging Markets.

Olivier Bohuon, Chief Executive Officer of Smith & Nephew, commented:

“Building a substantial and sustainable business in Brazil is central to our strategy to be leaders in the emerging markets. We know PCE well, having worked together for many years, and are confident that its deep market expertise and customer relationships give us a strong platform. We welcome the employees of PCE to Smith & Nephew and look forward to realising the many opportunities we see in this exciting market.”

PCE was established in 1957 and has worked for Smith & Nephew for over 30 years. PCE has approximately 165 employees today.

The acquisition is being made through Smith & Nephew’s Brazilian subsidiary, with closing expected to occur in the second half of 2013 subject to the satisfaction of certain customary conditions. The terms have not been disclosed.

Enquiries

Investors

Phil Cowdy +44 (0) 20 7401 7646

Smith & Nephew

Media

Charles Reynolds +44 (0) 20 7401 7646

Smith & Nephew

Andrew Mitchell / Justine McIlroy +44 (0) 20 7404 5959

Brunswick

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 and Extremities, Smith & Nephew has 10,500 employees and a presence in more than 90 countries. Annual sales in 2012 were almost $4.1 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).

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 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: economic and financial conditions in the markets we serve, especially those affecting health care providers, payors and customers; price levels for established and innovative medical devices; developments in medical technology; regulatory approvals, reimbursement decisions or other government actions; product defects or recalls; litigation relating to patent or other claims; legal compliance risks and related investigative, remedial or enforcement actions; strategic actions, including acquisitions and dispositions, our success in integrating acquired businesses, and disruption that may result from changes we make in our business plans or organisation to adapt to market developments; and numerous other matters that affect us or our markets, including those of a political, economic, business or competitive 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.


Read at BioSpace.com


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