Smith and Nephew to purchase Healthpoint Biotherapeutics

Smith and Nephew has agreed a deal to acquire substantially all assets of Healthpoint Biotherapeutics, a leading provider of bioactive debridement, dermal repair and regeneration woundcare treatments.

The $782 million (488.93 million pounds) deal will strengthen the company's position in the fast-growing bioactives market, while adding a complementary range of products to its portfolio.

Following the takeover, Healthpoint Biotherapeutics will be integrated into Smith and Nephew's advanced wound management division, with its established research and development capability set to bolster its new parent company's pipeline.

This deal ties in with Smith and Nephew's strategy of supplementing organic growth through acquisitions.

Olivier Bohuon, chief executive officer of Smith and Nephew, said: "The combination benefits our customers, offering them a truly unique woundcare business – having leadership positions across exudate and infection management, negative pressure and bioactives."

Earlier this month, the company announced the introduction of its new Redapt revision femoral system, which is intended to help simplify complex hip revision operations.