Smith & Nephew Announces Worldwide Agreement With Covalon Technologies
March 19 2007 - 10:35AM
PR Newswire (US)
HULL, England, March 19 /PRNewswire-FirstCall/ -- Smith &
Nephew's (NYSE: SNN)(LSE:SN) Advanced Wound Management division,
announced today the signing of an exclusive worldwide sales,
marketing and distribution agreement with Covalon Technologies
(TSX-VENTURE: COV) for their advanced range of collagen dressings.
Smith & Nephew Advanced Wound Management will be the sole
distributor of ColActive(TM) products globally, effectively
immediately. The agreement not only allows the distribution of
ColActive(TM) range of products based on Covalon's unique patented
technology, but also grants access and distribution rights to an
exciting and differentiated new product development portfolio in
the field of advanced wound care utilising the same unique
technology. This will yield further new product introductions in
2007. This agreement further strengthens the Smith & Nephew
Advanced Woundcare product portfolio alongside our ALLEVYN* foam
and ACTICOAT* antimicrobial technologies and offers our customers a
more a comprehensive solution to address their wound care needs.
"The addition of the Covalon collagen dressing range truly
strengths the Smith & Nephew product portfolio and the obvious
synergies between the two companies also look set to deliver
exciting future new product development opportunities in addition
to the current distributed products," said Roger Teasdale, Senior
Vice President of the Advanced Woundcare Strategic Business Unit.
Joe Woody, President, Smith & Nephew Advanced Wound Management,
said, "This is an important entry into a fast growing product
category and reinforces our strategic focus on the US. The Covalon
agreement is in-line with our strategy to aggressively acquire or
partner, enabling access to advanced technologies that deliver true
patients benefits and shareholder value." * - Trademark of Smith
& Nephew TM - Trademark of Covalon Technologies Notes for
Editors The ColActive(TM) range of product can be used to treat a
wide range of wound types, including pressure ulcers, diabetic foot
ulcers and venous leg ulcers. The products contain collagen and
sodium alginate and when applied to the wound bed they create a
moist wound environment in which fibroblasts and macrophages can
easily move and function more efficiently. ColActive(TM) in situ.
About Smith & Nephew Smith & Nephew is a global medical
technology business, specialising in Orthopaedic Reconstruction,
Orthopaedic Trauma and Clinical Therapies, Endoscopy and Advanced
Wound Management products. Smith & Nephew is a global leader in
arthroscopy and advanced wound management and is one of the leading
global orthopaedics companies. Smith & Nephew is dedicated to
helping improve people's lives. The company prides itself on the
strength of its relationships with its surgeons and professional
healthcare customers, with whom its name is synonymous with high
standards of performance, innovation and trust. The company has
more than 8,500 employees and operates in 33 countries around the
world and generated sales in excess of $2.6 billion.
Forward-Looking Statements This press release contains certain
"forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995. In particular, statements
regarding expected revenue growth and trading margins discussed
under "Outlook" are forward-looking statements as are discussions
of our product pipeline. These statements, as well as the phrases
"aim", "plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions,
are generally intended to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other important factors (including, but not
limited to, the outcome of litigation, claims and regulatory
approvals) that could cause the actual results, performance or
achievements of Smith & Nephew, or industry results, to differ
materially from any future results, performance or achievements
expressed or implied by such forward-looking statements. 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 20F, for a discussion of certain
of these factors. All forward-looking statements in this press
release are based on information available to Smith & Nephew as
of the date hereof. All written or oral forward-looking statements
attributable to Smith & Nephew or any person acting on behalf
of Smith & Nephew are expressly qualified in their entirety by
the foregoing. Smith & Nephew does not undertake any obligation
to update or revise any forward-looking statement contained herein
to reflect any change in Smith & Nephew's expectation with
regard thereto or any change in events, conditions or circumstances
on which any such statement is based. Contact: Sidonie Myers, Head
of Communication, Smith & Nephew Advanced Wound Management,
+44-1482-673246, DATASOURCE: Smith & Nephew CONTACT: Contact:
Sidonie Myers, Head of Communication, Smith & Nephew Advanced
Wound Management, +44-1482-673246,
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