Smith & Nephew Plc Russian distribution and manufacturing business
July 10 2015 - 1:00AM
RNS Non-Regulatory
TIDMSN.
Smith & Nephew Plc
10 July 2015
Smith & Nephew acquires Russian distribution and
manufacturing business
10 July 2015
Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical
technology business, today announces the acquisition of the trauma
and orthopaedics business of DeOst LLC and DC LLC, a manufacturing
company in the DeOst group. DeOst has distributed Smith &
Nephew's products in Russia since 2009.
The acquisition brings us closer to our customers through
well-established commercial channels, allowing us to better
understand needs and offer a fuller range of products and services.
DC's local capability to manufacture mid-tier trauma products will
enable us to reach more customers following recent changes relating
to state tenders supporting Russian produced products.
Olivier Bohuon, chief executive officer of Smith & Nephew,
commented:
"Smith & Nephew has grown its business in Russia since 2005.
This investment, in-line with our strategy to build our platform in
the Emerging Markets, significantly boosts our local presence and
prospects and will enable us to take advantage of market dynamics
and better serve Russian customers."
Approximately 350 new employees have joined Smith & Nephew.
The terms of the transaction have not been disclosed.
ends
Enquiries
Investors
Ingeborg Øie +44 (0) 20 7401 7646
Smith & Nephew
Media
Charles Reynolds +44 (0) 20 7401 7646
Smith & Nephew
Ben Atwell / Deborah Scott / Matthew Cole +44 (0) 20 3727 1000
FTI Strategic Communications
About Smith & Nephew
Smith & Nephew is a global medical technology business
dedicated to helping healthcare professionals improve people's
lives. With leadership positions in Orthopaedic Reconstruction,
Advanced Wound Management, Sports Medicine and Trauma &
Extremities, Smith & Nephew has around 14,000 employees and a
presence in more than 100 countries. Annual sales in 2014 were more
than $4.6 billion. Smith & Nephew is a member of the FTSE100
(LSE: SN, NYSE: SNN).
For more information about Smith & Nephew, please visit our
corporate website www.smith-nephew.com, follow @SmithNephewplc on
Twitter or visit SmithNephewplc on Facebook.com.
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, payers 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 performing due diligence, valuing and
integrating acquired businesses; disruption that may result from
transactions or other 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, competitive or reputational 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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