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In 1928 the company acquired the licence to market and produce the [[Elastoplast]] range of bandages. By 1977 the company acquired the pump manufacturer [[Watson-Marlow Pumps]], before selling it to [[Spirax-Sarco Engineering]] in 1990.<ref>{{cite web|url=http://www.watson-marlow.se/wmb-gb/50years-profile.htm |title=Watson-Marlow profile |publisher=Watson-marlow.se |date= |accessdate=18 April 2011}}</ref> In 1986 it went on to acquire Richards Medical Company, a US specialist in [[orthopaedic]] products for £201&nbsp;million.<ref name="history"/>
In 1928 the company acquired the licence to market and produce the [[Elastoplast]] range of bandages. By 1977 the company acquired the pump manufacturer [[Watson-Marlow Pumps]], before selling it to [[Spirax-Sarco Engineering]] in 1990.<ref>{{cite web|url=http://www.watson-marlow.se/wmb-gb/50years-profile.htm |title=Watson-Marlow profile |publisher=Watson-marlow.se |date= |accessdate=18 April 2011}}</ref> In 1986 it went on to acquire Richards Medical Company, a US specialist in [[orthopaedic]] products for £201&nbsp;million.<ref name="history"/>


In 2002 the company acquired ''Oratec Interventions'', a surgical devices business, for $310&nbsp;million.<ref>{{cite web |url=http://sis.windhover.com/buy/abstract.php?id=200210023 |title=Smith & Nephew to buy Oratec for $310mm in cash|publisher= Windhover Information|date= February 2002|accessdate=8 March 2009}}</ref> It went on to buy ''Midland Medical Technologies'', a [[hip]] resurfacing business, for £67&nbsp;million in 2004.<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-115966303.html |title=Smith & Nephew buys UK hip resurfacing business|publisher= Biomedical Materials|date= 1 May 2004|accessdate=8 March 2009|via=Highbeam}}</ref>
In 2002 the company acquired ''Oratec Interventions'', a surgical devices business, for $310&nbsp;million.<ref>{{cite web|url=http://sis.windhover.com/buy/abstract.php?id=200210023|title=Smith & Nephew to buy Oratec for $310mm in cash|publisher=Windhover Information|date=February 2002|accessdate=8 March 2009}}{{dead link|date=December 2017 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> It went on to buy ''Midland Medical Technologies'', a [[hip]] resurfacing business, for £67&nbsp;million in 2004.<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-115966303.html |title=Smith & Nephew buys UK hip resurfacing business|publisher= Biomedical Materials|date= 1 May 2004|accessdate=8 March 2009|via=Highbeam}}</ref>


The company acquired ''Plus Orthopedics'', a Swiss [[orthopedics]] business, for US$889&nbsp;million in April 2007<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-162512108.html |title=Smith & Nephew buys Swiss company Plus Orthopedics|publisher= Biomedical Materials|date= 1 April 2007|accessdate=8 March 2009|via=Highbeam}}</ref> and ''BlueSky'', a US wound care business, for $110&nbsp;million in May 2007.<ref>{{cite web|url=https://www.independent.co.uk/news/business/news/smith-amp-nephew-buys-us-wound-care-firm-bluesky-for-110m-448529.html |title=Smith & Nephew buys wound care firm BlueSky for $110m|work= Independent|date= 12 May 2007|accessdate=8 March 2009}}</ref>
The company acquired ''Plus Orthopedics'', a Swiss [[orthopedics]] business, for US$889&nbsp;million in April 2007<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-162512108.html |title=Smith & Nephew buys Swiss company Plus Orthopedics|publisher= Biomedical Materials|date= 1 April 2007|accessdate=8 March 2009|via=Highbeam}}</ref> and ''BlueSky'', a US wound care business, for $110&nbsp;million in May 2007.<ref>{{cite web|url=https://www.independent.co.uk/news/business/news/smith-amp-nephew-buys-us-wound-care-firm-bluesky-for-110m-448529.html |title=Smith & Nephew buys wound care firm BlueSky for $110m|work= Independent|date= 12 May 2007|accessdate=8 March 2009}}</ref>
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==Awards==
==Awards==
Awards include:
Awards include:
*Manufacturer of the Year in 2007<ref>{{cite web|url=http://www.ontargetmag.com/article.aspx?issueID=104&articleID=709 |title=Smith & Nephew wins manufacturing award|work= On Target|year= 2007 |accessdate=2 August 2008}}</ref>
*Manufacturer of the Year in 2007<ref>{{cite web|url=http://www.ontargetmag.com/article.aspx?issueID=104&articleID=709|title=Smith & Nephew wins manufacturing award|work=On Target|year=2007|accessdate=2 August 2008|deadurl=yes|archiveurl=https://web.archive.org/web/20080205225735/http://www.ontargetmag.com/article.aspx?issueID=104&articleID=709|archivedate=5 February 2008|df=dmy-all}}</ref>
*Smith & Nephew Advanced Wound Management won Logistics and Supply Chain Manufacturer Award 2006<ref>{{cite web|url=http://www.oliverwight-eame.com/articles/press-releases/news/4 |title=Oliver Wright|accessdate=7 October 2010}}</ref>
*Smith & Nephew Advanced Wound Management won Logistics and Supply Chain Manufacturer Award 2006<ref>{{cite web|url=http://www.oliverwight-eame.com/articles/press-releases/news/4|title=Oliver Wright|accessdate=7 October 2010|deadurl=yes|archiveurl=https://archive.is/20090106191736/http://www.oliverwight-eame.com/articles/press-releases/news/4|archivedate=6 January 2009|df=dmy-all}}</ref>
*ASM International 2005 Engineering Materials Achievement Award for Smith & Nephew's trademarked oxinium technology<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-138276109.html |title=Smith & Nephew wins award for oxinium technology|publisher= Bimedical Materials|date= 1 November 2005|accessdate=7 October 2010}}</ref>
*ASM International 2005 Engineering Materials Achievement Award for Smith & Nephew's trademarked oxinium technology<ref>{{cite web|url=http://www.highbeam.com/doc/1G1-138276109.html |title=Smith & Nephew wins award for oxinium technology|publisher= Bimedical Materials|date= 1 November 2005|accessdate=7 October 2010}}</ref>
*Smith & Nephew's Back Pain Study Receives Outstanding Paper Award at North American Spine Society 2003 Annual Meeting<ref>{{cite press release|url=http://www.smith-nephew.com/news-and-media/news/landmark-back-pain-study-receives-outstanding-pap/ |title=North American Spine Society 2003 Annual Meeting|publisher= Smith & Nephew |accessdate=2 April 2013}}</ref>
*Smith & Nephew's Back Pain Study Receives Outstanding Paper Award at North American Spine Society 2003 Annual Meeting<ref>{{cite press release|url=http://www.smith-nephew.com/news-and-media/news/landmark-back-pain-study-receives-outstanding-pap/|title=North American Spine Society 2003 Annual Meeting|publisher=Smith & Nephew|accessdate=2 April 2013|deadurl=yes|archiveurl=https://web.archive.org/web/20131202222058/http://www.smith-nephew.com/news-and-media/news/landmark-back-pain-study-receives-outstanding-pap/|archivedate=2 December 2013|df=dmy-all}}</ref>


==References==
==References==

Revision as of 18:54, 4 December 2017

Smith & Nephew plc
Company typePublic limited company
LSE: SN
NYSE: SNN
FTSE 100 Component
IndustryMedical equipment
Founded1856; 168 years ago (1856)
(Kingston upon Hull)
HeadquartersLondon and Hull, United Kingdom
Key people
Roberto Quarta (Chairman)
Olivier Bohuon (CEO)
Revenue$4,669 million (2016)[1]
$801 million (2016)[1]
$784 million (2016)[1]
Number of employees
15,000 (2017)[2]
Websitewww.smith-nephew.com

Smith & Nephew plc is a British-based multinational medical equipment manufacturing company headquartered in London, United Kingdom.[3] It is an international producer of advanced wound management products, arthroscopy products, trauma and clinical therapy products, and orthopedic reconstruction products.[2] Its products are sold in over 120 countries.[2] It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History

The company was founded in 1856 by Thomas James Smith of Kingston upon Hull who went into business as a dispensing chemist.[4] A few months before his death in 1896, Smith was joined by his nephew, Horatio Nelson Smith, and the business became known as T. J. Smith and Nephew.[4]

In 1928 the company acquired the licence to market and produce the Elastoplast range of bandages. By 1977 the company acquired the pump manufacturer Watson-Marlow Pumps, before selling it to Spirax-Sarco Engineering in 1990.[5] In 1986 it went on to acquire Richards Medical Company, a US specialist in orthopaedic products for £201 million.[4]

In 2002 the company acquired Oratec Interventions, a surgical devices business, for $310 million.[6] It went on to buy Midland Medical Technologies, a hip resurfacing business, for £67 million in 2004.[7]

The company acquired Plus Orthopedics, a Swiss orthopedics business, for US$889 million in April 2007[8] and BlueSky, a US wound care business, for $110 million in May 2007.[9]

In September 2007 Biomet Inc., DePuy Orthopaedics Inc. (part of Johnson & Johnson), Smith & Nephew PLC and Zimmer Holdings Inc. entered into settlement agreements, under which they agree to pay $300 million in total, adopt industry overhauls and undertake corporate monitoring to avoid criminal charges of conspiracy.[10]

The company acquired Healthpoint Biotherapeutics, a specialist in the bioactives area of advanced wound management, for $782 million in December 2012.[11]

In February 2014, Smith & Nephew announced the purchase of ArthroCare for US$1.7 billion in cash. This was seen as a move to broaden the company's sports medicine range for minimally invasive surgery moves the company into the Ear, Nose & Throat market.[12]

Operations

The Smith and Nephew factory in Kingston upon Hull, United Kingdom

Smith & Nephew operates in three market segments through separate "global business units" under the Smith & Nephew brand name:[13]

Controversies

In February 2012 Smith & Nephew plc agreed to pay US$22.2 million to settle multiple US Foreign Corrupt Practices Act (FCPA) offenses committed by its US and German subsidiaries.[14] Under the new agreements Smith & Nephew PLC paid $5.4 million in restitution and interest to settle the SEC's civil charges. Its U.S. subsidiary Smith & Nephew Inc. paid a $16.8 million criminal fine.[15] The company admitted to having bribed government-employed doctors in Greece to use its medical equipment over the past decade.[16] The company has entered into a deferred prosecution agreement with the US Department of Justice (DOJ) and has agreed to retain a compliance monitor for 18 months.[17]

Awards

Awards include:

  • Manufacturer of the Year in 2007[18]
  • Smith & Nephew Advanced Wound Management won Logistics and Supply Chain Manufacturer Award 2006[19]
  • ASM International 2005 Engineering Materials Achievement Award for Smith & Nephew's trademarked oxinium technology[20]
  • Smith & Nephew's Back Pain Study Receives Outstanding Paper Award at North American Spine Society 2003 Annual Meeting[21]

References

  1. ^ a b c "Annual Results 2016" (PDF). Smith & Nephew plc. Retrieved 12 April 2017.
  2. ^ a b c "About us". Smith & Nephew. Retrieved 12 April 2017.
  3. ^ "SNN Profile | Smith & Nephew SNATS, Inc. Comm Stock - Yahoo! Finance". finance.yahoo.com. Retrieved 5 September 2012.
  4. ^ a b c "Smith & Nephew History". Global.smith-nephew.com. Retrieved 2 April 2013.
  5. ^ "Watson-Marlow profile". Watson-marlow.se. Retrieved 18 April 2011.
  6. ^ "Smith & Nephew to buy Oratec for $310mm in cash". Windhover Information. February 2002. Retrieved 8 March 2009.[permanent dead link]
  7. ^ "Smith & Nephew buys UK hip resurfacing business". Biomedical Materials. 1 May 2004. Retrieved 8 March 2009 – via Highbeam.
  8. ^ "Smith & Nephew buys Swiss company Plus Orthopedics". Biomedical Materials. 1 April 2007. Retrieved 8 March 2009 – via Highbeam.
  9. ^ "Smith & Nephew buys wound care firm BlueSky for $110m". Independent. 12 May 2007. Retrieved 8 March 2009.
  10. ^ "Biomet stays part of informal SEC probe". Reuters. 11 October 2007. Retrieved 2 August 2008.
  11. ^ "Smith & Nephew to Buy Healthpoint for $782 Million". Bloomberg. 28 November 2012. Retrieved 18 March 2013.
  12. ^ "Smith & Nephew to Buy ArthroCare for $1.7 Billion in Cash". Bloomberg. 3 February 2014. Retrieved 27 March 2014.
  13. ^ "Smith & Nephew". The Telegraph. Retrieved 12 April 2017.
  14. ^ The FCPA Blog (6 February 2012). "Smith & Nephew Reaches $22 Million Settlement". The FCPA Blog. Retrieved 10 April 2012.
  15. ^ "Smith & Nephew to pay $22.2M in US settlements". 6 February 2012. Retrieved 17 June 2013.
  16. ^ Andrew Jack (6 February 2012). "Smith & Nephew in $22m bribes fine". The Financial Times. Retrieved 10 April 2012.
  17. ^ Office of Public Affairs (6 February 2012). "Medical Device Company Smith & Nephew Resolves Foreign Corrupt Practices Act Investigation". The United States Department of Justice. Retrieved 10 April 2012.
  18. ^ "Smith & Nephew wins manufacturing award". On Target. 2007. Archived from the original on 5 February 2008. Retrieved 2 August 2008. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  19. ^ "Oliver Wright". Archived from the original on 6 January 2009. Retrieved 7 October 2010. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)
  20. ^ "Smith & Nephew wins award for oxinium technology". Bimedical Materials. 1 November 2005. Retrieved 7 October 2010.
  21. ^ "North American Spine Society 2003 Annual Meeting" (Press release). Smith & Nephew. Archived from the original on 2 December 2013. Retrieved 2 April 2013. {{cite press release}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)

Books

  1. J Foreman-Peck, Smith & Nephew in the Health Care Industry, Edward Elgar 1995

External links

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