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: Out-of-patience investors sell off Amazon

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

Out-of-patience investors sell off Amazon

Oct 24, 2014

Amazon has long acted like an ideal customer on its own website: a freewheeling big spender with no worries about balancing a checkbook. Investors confident in founder and CEO Jeff Bezos' invest-and-expand ...

States ascend into the cloud

Oct 24, 2014

Seven years ago, the state of Delaware started moving computer servers out of closets and from under workers' desks to create a consolidated data center and a virtual computing climate.

Microsoft drops Nokia name from smartphones

Oct 24, 2014

Microsoft said Friday it was dropping the Nokia name from its Lumia smartphones, rebranding following the acquisition earlier this year of the Finnish group's handset division.

Amazon's loss makes holidays a question mark

Oct 24, 2014

Amazon's trademark smile icon is becoming more of a grimace. The world's largest online retailer reported a wider third-quarter loss than analysts expected and gave a disappointing holiday forecast.

User comments : 0