Smith and Nephew now has ‘an outstanding knee portfolio’

Smith and Nephew’s chief executive has described his company’s knee product portfolio as “outstanding” following the introduction of new products and the acquisition of OsteoBiologics.

The British medical device company yesterday reported its second quarter financial results, highlighting a six per cent increase in revenue, despite “challenging” market conditions in the US and underestimated cost pressures in Europe.

Smith and Nephew said it expects to improve its performance in the second half of the year further, led by new product introductions and the expansion of its knee portfolio.

As Sir Christopher O’Donnell, Smith and Nephew chief executive explained: “Techniques for treating the knee are constantly increasing, and through our orthopaedic and endoscopic businesses we have a unique involvement in these treatments.”

Speaking of the acquisition of OsteoBiologics, Sir Christopher remarked: “These transactions, together with innovative new knee product introductions in the first half of the year, give us an outstanding knee portfolio.”

The chief executive concluded: “We remain confident in our growth prospects and reconfirm our earnings guidance for the full year.”

Smith and Nephew’s origins lie in Hull, when in 1856 Thomas James Smith opened a pharmaceutical chemist shop. The company’s links with Hull remain to this day, where it is one of the city’s largest employers, according to Industry magazine, employing 1,200 people.

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