Smith & Nephew shells out $782m for wound care business

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Artificial joint maker Smith & Nephew has agreed a deal to seize control of US wound treatment firm Healthpoint.

The group is paying $782 million (£488.5m) in cash for the business, which is expected to generate sales of about $190m this year, driven by Santyl, an ointment for the removal of dead tissue in wounds.

Paul Dorman, chairman of privately-held Healthpoint, said: “We are very proud of our employees and the busines and believe now is the time to allow it to grow to the next level by joining a global organisation like Smith & Nephew.”

Smith & Nephew chief executive Olivier Bohuon said the deal would give the group’s a strong position in the rapidly-growing area of “bioactive” treatments.

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