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Home Industry News Smith and Nephew agrees takeover of ArthroCare

Smith and Nephew agrees takeover of ArthroCare

6th February 2014

Smith and Nephew has announced the acquisition of fellow medical device manufacturer ArthroCare, a deal that will greatly strengthen its global sports medicine business.

The $1.7 billion (1.04 billion pounds) deal is expected to close midway through 2014, with ArthroCare to be swiftly integrated into the Smith and Nephew business structure in order to minimise disruption for customers.

By purchasing ArthroCare, Smith and Nephew will create a comprehensive resection and repair portfolio with exciting growth prospects, while generating additional revenue opportunities through a combined global footprint and channel presence.

ArthroCare's adjacent ear, nose and throat business will also provide new growth opportunities, with the deal as a whole having been deemed a financially and strategically beneficial move.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "Together, we will be able to generate significant additional revenue from the more comprehensive portfolio, combined sales force and Smith and Nephew's global footprint."

This comes in the same week the company announced its financial results for 2013, during which it generated a revenue total of $4.35 billion – up by four percent year on year.ADNFCR-8000103-ID-801690845-ADNFCR

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