Smith & Nephew Pays $782M For Texas Wound Care Co.

Law360, New York (November 28, 2012, 1:29 PM EST) -- U.K. medical device maker Smith & Nephew PLC has agreed to buy Texas-based wound care company Healthpoint Biotherapeutics for $782 million in cash, Smith & Nephew said Wednesday.

The acquisition gives London-based Smith & Nephew a foothold in the fast-growing bioactive wound healing market, a $1 billion submarket of the advanced wound care industry. Healthpoint is projected to have 2012 revenues of $190 million and manufactures the popular treatment Santyl, a bioactive ointment for the removal of dead tissue in wounds.

Smith & Nephew will fund the...
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