Smith and Nephew completes Healthpoint Biotherapeutics takeover

Smith and Nephew has announced the completion of Healthpoint Biotherapeutics in a deal worth $782 million ( 483.6 million pounds).

The takeover has been financed from Smith and Nephew's existing cash resources and bank facilities and sees the firm acquiring substantially all the assets of Healthpoint.

It is expected that this deal will provide Smith and Nephew with a strong position in the field of bioactives, the fastest-growing area of advanced wound management, which is a market in which Smith and Nephew has demonstrated great strength in recent years.

In particular, Healthpoint's bioactives platform is considered a perfectly complement to Smith and Nephew's exudate and infection management and negative pressure expertise.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "We expect to make further progress as we build upon our unique breadth of products to help customers meet the growing human and economic cost of wounds."

Earlier this month, the company expanded its product line-up with the launch of the new Truclear Ultra Reciprocating Morcellator 4.0, which has been designed specifically for removing uterine fibroids.