TIDMSN.

Smith & Nephew Plc

03 March 2015

Smith & Nephew expands emerging markets business with acquisition of Colombian distributor ECC

3 March 2015

Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, today announces the acquisition of EuroCiencia Colombia ('ECC'). ECC has been Smith & Nephew's sole distributor for orthopaedic reconstruction, trauma and sports medicine products in Colombia since 2006.

Olivier Bohuon, Chief Executive Officer of Smith & Nephew, commented:

"ECC provides us with an established, successful platform to accelerate growth in Colombia, one of the largest economies in Latin America. With increased resources and direct relationships with customers we are better able to fulfil their needs, through our pioneering technologies and enhanced service. We welcome our new employees to Smith & Nephew and look forward to working together to support healthcare professionals in improving the quality of life for their patients."

The acquisition of ECC is in-line with Smith & Nephew's strategic priority to supplement its organic growth through acquisitions and follows similar transactions in Brazil, Turkey and India. Smith & Nephew has built a dynamic and sustainable emerging markets business which delivered 17% revenue growth in 2014. It accounts for 15% of Group revenue, up from 8% in 2010.

The terms of the transaction have not been disclosed. ECC, which has a workforce of approximately 150 people, was acquired from Miami-based GrupoCiencia, a distributor of Smith & Nephew products in Latin America since 1947.

- ends -

Enquiries:

 
 Investors 
  Ingeborg Øie             +44 (0) 20 7401 
  Smith & Nephew                7646 
 Media 
  Charles Reynolds             +44 (0) 20 7401 
  Smith & Nephew               7646 
 Ben Atwell / Matthew Cole    +44 (0) 20 3727 
  FTI Strategic Consulting     1000

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 90 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.

Trademark of Smith & Nephew. Certain marks registered US Patent and Trademark Office.

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRASSWFEDFISESD

Smith and Nephew (NYSE:SNN)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Smith and Nephew Charts.
Smith and Nephew (NYSE:SNN)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Smith and Nephew Charts.