ANDOVER, Mass., June 23, 2011 /PRNewswire/ -- Smith & Nephew, (NYSE: SNN; LSE: SN), on behalf of its Endoscopy Division announced today the acquisition of privately-held, Calgary, Alberta-based TENET Medical Engineering, Inc.
TENET markets leading edge technology in the area of patient positioning such as intuitive positioning controls, increased versatility, adjustability and stability, global compatibility and fully integrated systems used in arthroscopic surgery.
TENET's products are complementary to Smith & Nephew's existing comprehensive arthroscopy portfolio and will be sold through Smith & Nephew Endoscopy's global sales team. Prior to the acquisition, Smith & Nephew Endoscopy had a long-standing distribution agreement in place to be the distributor of choice for TENET's patient positioning products.
"TENET is well known as the premier provider of patient positioning systems to surgeons and medical facilities around the world," commented Mike Frazzette, president, Smith & Nephew Endoscopy. "TENET also brings considerable material expertise and a global awareness of customer needs, all of which complements Smith & Nephew's own deep understanding of arthroscopic procedures and techniques."
Terms of the agreement were not disclosed.
About Smith & NephewSmith & Nephew is a global medical technology business with global leadership positions in Orthopaedics, including Reconstruction, Trauma and Clinical Therapies; Endoscopy, including Sports Medicine; and Advanced Wound Management. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies. Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company has distribution channels, purchasing agents and buying entities in over 90 countries worldwide. Annual sales in 2010 were nearly $4.0 billion.
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MediaJoe MetzgerSVP, Corporate CommunicationsSmith & Nephew Endoscopy(978) 749-1330 (office)(978) 273-5187 (cell) Investor/Analyst Phil CowdyHead of Corporate AffairsSmith & Nephew44 (0)20 7401 7646
|SOURCE Smith & Nephew|
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