British medical device company Smith & Nephew have made a deal to sell its gynecology unit to major medical device player Medtronic for the handsome sum of $350 million.
Smith and Nephew specialise mostly in orthopaedics and a lot of the areas Projectus recruit for including sports medicine, wound management, trauma and extremities. It’s agreed by Smith and Nephew that the gynaecology unit is better placed in Medtronic with CEO Oliver Bohuon stating that plans to sell off the division had gained widespread favour.
Smith and Nephew will now focus their attention on their 3-D printing developments on their latest titanium hip implants.
Smith and Nephew are set to return $300 million to its investors in their share buy-back scheme later this summer.
What impact do you think this will have on the industry? We'd love to hear from you!
Nicola Lawler, Head of Marketing at Projectus Consulting