Smith and Nephew CEO Reiterates Independence Amid Takeover Speculation (MedDeviceOnline)
The chief executive of London-based Smith & Nephew (S&N) reportedly describes ongoing M&A talk about the company as disruptive, and vows S&N would resist any takeover attempt, remaining independent amid consolidation in the orthopedics market.
In an interview with the Financial Times (FT), S&N CEO Olivier Bohuon, regarding continued speculation, said, “It has disrupted our sales force because every day they are with [competitors] who are saying, ‘By the way, we are going to buy you.’” However, the news outlet adds that Bohuon "has not wavered from his belief in S&N’s ability to prosper on its own," despite analysts' observation that it's just a matter of time before the British company is bought out by bigger rivals, such as Stryker and Johnson & Johnson (J&J).
Bouhon's pronouncements confirm his previous stance on the matter; he said earlier in the year that mergers were not a priority because they hardly change existing market shares or affect profit margins of involved parties.
"For me, what matters is the ability of a company to bring to the market disruptive...
