Issue: January 2013
January 01, 2013
1 min read
Save

Smith & Nephew enters into agreement with Healthpoint Biotherapeutics

Issue: January 2013
You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Smith & Nephew announced in a company press release that it has entered into an agreement through its subsidiaries to acquire substantially all the assets of Healthpoint Biotherapeutics for $782 million in cash.

“The acquisition of Healthpoint is an important step for Smith & Nephew. Strategically, it reinforces our Advanced Wound Management division by giving us a strong position in the fast growing area of bioactive wound care treatment,” Olivier Bohuon, chief executive officer of Smith & Nephew, stated in the company press release.

According to the release, the acquisition brings a complementary range of bioactive debridement, dermal repair and regeneration products generating around $190 million for 2012 revenues growing at a double-digit percentage rate, driven by SANTYL ointment.

“It brings material revenues from a fast growing product range, an attractive pipeline and commercial and R&D capabilities upon which we will build,” Bohuon stated.