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Smith & Nephew Inc. (SNN) To Acquire Brazilian Distribution Of Its Advanced Wound Management Products
11/26/2013 8:40:05 AM
26 November 2013 -- Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, has agreed to acquire the assets and business of Politec Saúde relating to Smith & Nephew’s Advanced Wound Management products in Brazil.
In 2013 Smith & Nephew announced its intention to acquire its Advanced Surgical Devices distribution in Brazil, bought a mid-tier trauma business in India, and acquired a direct presence in Turkey. Through these transactions, together with today’s further acquisition in Brazil, Smith & Nephew is delivering on its strategic priority to build a sustainable Emerging Markets business.
Olivier Bohuon, Chief Executive Officer of Smith & Nephew, commented:
“Being closer to the customer is at the heart of our Emerging Markets strategy. Brazil is an exciting long-term opportunity and this is an important investment which creates a significant platform from which we can grow.”
Founded in 1973 and based in Sao Paulo, Politec Saúde is the sole distributor of Smith & Nephew Advanced Wound Management products registered in Brazil. This proposed acquisition comprises approximately one-quarter of Politec’s overall business. Politec will continue to operate its other businesses as usual, with its shareholding structure and management team unchanged.
It is planned that 30 employees will transfer to Smith & Nephew Brazil upon completion of the deal. The terms of the transaction have not been disclosed.
Phil Cowdy +44 (0) 20 7401 7646
Smith & Nephew
Charles Reynolds +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 and Extremities, Smith & Nephew has almost 11,000 employees and a presence in more than 90 countries. Annual sales in 2012 were more than $4.1 billion. Smith & Nephew is a member of the FTSE 100 (LSE: SN, NYSE: SNN).
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.
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