Smith and Nephew’s revenues rise in 2011

Smith and Nephew has experienced a four percent increase in reported sales in 2011.

The medical technology firm's latest financial report revealed that it generated $4.27 billion (2.69 billion pounds) in sales during the year, with its endoscopy division delivering strong revenue growth and its advanced wound management expanding at more than twice the market rate.

Meanwhile, the company's orthopaedics business unit also experienced improved profitability as a result of St Jude Medical's management initiatives, thus helping it to exceed its profit margin expectations for the fourth quarter.

Olivier Bohuon, chief executive officer of Smith and Nephew, said the firm has also made progress in terms of efforts to streamline its operations and realign its strategy.

"We are building momentum every day and I am confident that the result will be a business that is stronger, growing faster, better balanced and fit and effective for the future," he added.

Last month, the company announced plans to form a new joint venture called Bioventus with Essex Woodlands, which will be focused on biologics and clinical therapies.