UK firm buys Texas-based Healthpoint for $782 mln (Update)

Nov 28, 2012

(AP)—British medical technology company Smith & Nephew PLC said Wednesday it is buying Texas-based Healthpoint Biotherapeutics for $782 million.

Healthpoint Biotherapeutics, founded in 1992, is a privately owned company that focuses on acute, chronic and burn-related wound care.

Smith & Nephew CEO Olivier Bohuon said the acquisition of Healthpoint would strengthen his company's position in bioactive wound care.

"It brings material revenues from a fast growing product range, an attractive pipeline, and commercial and R&D capabilities upon which we will build," he said.

Smith & Nephew shares were down 0.8 percent at 653.5 pence in midday trading in London.

"Whilst the acquisition is broadly about strategy, expanding S&N's wound business, it takes S&N into riskier areas, with future performance linked to the outcome of clinical trials," said Sebastien Jantet, analyst at Investec Securities.

Travis Baugh, Healthpoint's president and chief operating officer, said the acquisition "will enable us to accelerate many of the initiatives we wanted to pursue and will provide development and promotional opportunities to our employees that would not have been available to them had we stayed an independent company."

Healthpoint, which has 460 employees, will continue to be based in Fort Worth.

Explore further: IBM posts lower 1Q earnings amid hardware slump

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Ted Hoffman joins Smith Micro

Dec 19, 2005

A former Verizon Wireless executive has been named to the Smith Micro Board, the company announced Monday.

Curtiss-Wright buying Spirent unit for $64 million

Sep 24, 2012

(AP)—Aerospace and defense supplier Curtiss-Wright is buying a division of Britain's Spirent Communications PLC that makes controllers and drives for electric-powered vehicles for $64 million in cash.

Recommended for you

IBM posts lower 1Q earnings amid hardware slump

9 hours ago

IBM's first-quarter earnings fell and revenue came in below Wall Street's expectations amid an ongoing decline in its hardware business, one that was exasperated by weaker demand in China and emerging markets.

New US-Spanish firm says targets rich mobile ad market

16 hours ago

Spanish telecoms firm Telefonica and US investment giant Blackstone launched a mobile telephone advertising venture on Wednesday, challenging internet giants such as Google and Facebook in a multi-billion-dollar ...

Technip, Heerema win third giant Angolan oil contract

19 hours ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

User comments : 0

More news stories

Simplicity is key to co-operative robots

A way of making hundreds—or even thousands—of tiny robots cluster to carry out tasks without using any memory or processing power has been developed by engineers at the University of Sheffield, UK.

Microsoft CEO is driving data-culture mindset

(Phys.org) —Microsoft's future strategy: is all about leveraging data, from different sources, coming together using one cohesive Microsoft architecture. Microsoft CEO Satya Nadella on Tuesday, both in ...

Floating nuclear plants could ride out tsunamis

When an earthquake and tsunami struck the Fukushima Daiichi nuclear plant complex in 2011, neither the quake nor the inundation caused the ensuing contamination. Rather, it was the aftereffects—specifically, ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...

Quantenna promises 10-gigabit Wi-Fi by next year

(Phys.org) —Quantenna Communications has announced that it has plans for releasing a chipset that will be capable of delivering 10Gbps WiFi to/from routers, bridges and computers by sometime next year. ...