Deals
Smith & Nephew to Buy Healthpoint for $782 Million
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– 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.