Smith & Nephew has announced it will acquire Healthpoint Biotherapeutics for $782 million in cash, according to a news release.
Healthpoint, based in Fort Worth, Texas, is a developer of bioactive debridement, dermal repair and regeneration wound care treatments
"The acquisition of Healthpoint is an important step for Smith & Nephew," said Olivier Bohuon, CEO of Smith & Nephew, in the release. "Strategically, it 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. The combination benefits our customers, offering them a truly unique wound care business — having leadership positions across exudate and infection management, negative pressure and bioactives."
Healthpoint is an affiliate company of DFB Pharmaceuticals.
Completion of the transaction is expected by the end of 2012.
Smith & Nephew is headquartered in London.
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