LONDON, June 24, 2015 /PRNewswire/ -- Smith & Nephew
(NYSE:SNN; LSE:SN), the global medical technology business, today
announced an agreement to acquire the
Zimmer® Unicompartmental High Flex Knee (ZUK)
system in the US market. ZUK is a clinically proven uni knee
replacement introduced globally in 2004. Smith & Nephew
has purchased all existing inventory and certain intellectual
property for the US market.
The transaction will close within three business days after the
merger between Zimmer® and
Biomet® has closed.
"Our acquisition of this product line expands our access to a
fast growing segment of the joint reconstruction market," says
Brad Cannon, President of Global
Orthopaedic Franchises. "We look forward to welcoming many new
customers to Smith & Nephew and are excited by this opportunity
to demonstrate first-hand our excellent customer service and broad
range of advanced surgical products."
Terms of the transaction were not disclosed.
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 2013 were more than $4.3
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
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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.
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SOURCE Smith & Nephew