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Smith & Nephew To Acquire Healthpoint Biotherapeutics - Quick Facts

Smith & Nephew plc (SNN, SN.L) Wednesday announced an agreement to acquire Fort Worth, Texas based Healthpoint Biotherapeutics for an all-cash offer of $782 million.

Healthpoint is engaged in the development and commercialisation of novel, cost-effective bioactive solutions for skin repair and regeneration. Smith & Nephew intends to build upon Healthpoint's complementary product range and established commercial organisation, thereby strengthening its position in the U.S.

Upon close of acquisition, Healthpoint will be integrated into Smith & Nephew's Advanced Wound Management division.

The purchase price of $782 million in cash is being financed from the company's existing cash resources and bank facilities.

"The acquisition reinforces our Advanced Wound Management division by giving us a strong position in the fast growing area of bioactive wound care treatment. It brings material revenues from a fast growing product range, an attractive pipeline, and commercial and R&D capabilities upon which we will build, " said Olivier Bohuon, CEO of Smith & Nephew.

Healthpoint is expected to generate around $190 million sales in 2012.

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