Smith and Nephew Buy Texas Wound Care Firm Healthpoint Biotherapeutics–$782 Million
Posted Nov 28 2012 2:58pm
This seems to be a match of related and similar technologies. It was just earlier this year that the PICO system from Smith and Nephew received FDA approval which is a small device used either at home or at the hospital for therapy to help wounds heal. Just a couple weeks ago the company said they were looking for new acquisitions in the wound care business. Their knee and hip business is down a little and they have and distribute what has been called the 30 year knee.
Healthpoint employs 460 people and has revenues of $150 million so is there something else in the works with new products to come out soon? Johnson and Johnson at one point also tried to acquire Smith and Nephew for more than 7 billion but that didn’t work out. I would guess their knee implant might have been a big motivator there with all the issues J and J had with theirs. You can view the products from Healthpoint here as relates to wound care and they also offer products that help control infection such as hand washes, etc. . BD
LONDON — 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.
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.