Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Smith & Nephew to Buy Healthpoint for $782 Million

Don't Miss Out —
Follow us on:

Nov. 28 (Bloomberg) -– Smith & Nephew Plc, Europe’s biggest maker of artificial hips and knees, agreed to buy closely held Healthpoint Biotherapeutics for $782 million in cash to expand offerings of wound-care treatments.

The acquisition of Fort Worth, Texas-based Healthpoint will enable Smith & Nephew to enter the $1 billion market for “bioactive” wound healing, the London-based company said in a statement today. Healthpoint will generate sales of about $190 million in 2012 and is growing at a “double-digit” percentage rate, Smith & Nephew said.

“Strategically, it reinforces our advanced wound management division by giving us a strong position in the fast-growing area of bioactive wound care treatment,” Smith & Nephew Chief Executive Officer Olivier Bohuon said in the statement. “It brings material revenues from a fast-growing product range, an attractive pipeline, and commercial and R&D capabilities upon which we will build.”

The purchase will be “broadly” neutral to Smith & Nephew’s adjusted earnings per share next year, and will add to profit after that, the company said.

Healthpoint makes Santyl, an ointment to remove dead tissue in wounds.

Deutsche Bank AG advised Smith & Nephew, and BofA Merrill Lynch and JPMorgan Chase & Co. advised Healthpoint.

To contact the reporter on this story: Andrea Gerlin in London at agerlin@bloomberg.net

To contact the editor responsible for this story: Phil Serafino at pserafino@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.