Smith & Nephew acquires Russian trauma and orthopaedics business
read the 2011 article – S&N interview regarding their strategy to expand into BRIC countries
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.
|Ingeborg Øie||+44 (0) 20 7401 7646|
|Smith & Nephew|
|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.