2 May 2013
Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, today announces an agreement to acquire Adler Mediequip Private Limited and with it, the brands and assets of Sushrut Surgicals Private Limited, a leader in mid-tier, orthopaedic trauma products for the India market. The transaction is expected to complete upon the satisfaction of customary conditions. The terms are not disclosed.
The acquisition will give Smith & Nephew a well-established platform to provide and develop products for the mid-tier market in India and for export. In particular, it gives Smith & Nephew an entry point to India’s fast growing trauma segment.
Olivier Bohuon, Chief Executive Officer of Smith & Nephew, commented:
“Through this important acquisition we are continuing to deliver on our Strategic Priorities to build leadership positions in the emerging markets, to supplement our organic growth through acquisitions, and to bring forward a mid-tier offering for these regions.
“Sushrut-Adler has a long and distinguished history, a reputation for quality products and a loyal customer base. Its trauma portfolio strongly complements our established positions in orthopaedic reconstruction and sports medicine in India, giving us an enhanced platform from which to continue to build a sustainable business. ”
Adler employs 116 people, while approximately 50 Sushrut employees (which include an experienced sales force that directly supports the Adler business) will also transfer as part of the arrangement. Products include primarily trauma implants and instrumentation, as well as spine and limb salvage portfolios.
Adler is owned by the Pitre family and its senior management team will continue with the business. Ajay Pitre, Managing Director, said, “We are excited with the opportunity to bring together our long experience of navigating the mid-tier segment in emerging markets, with the vast global resources and capabilities of Smith & Nephew to create and provide relevant solutions”.
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About Smith & Nephew
Smith & Nephew is a global medical technology business dedicated to helping improve people’s lives. With leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma, Smith & Nephew has around 10,500 employees and a presence in more than 90 countries. Annual sales in 2012 were more than $4.1 billion. Smith & Nephew is a member of the FTSE100 (LSE: SN, NYSE: SNN).
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