Smith & Nephew to buy U.S. wound care business for $782 mln

LONDON Wed Nov 28, 2012 2:27am EST

LONDON Nov 28 (Reuters) - Artificial hip and knee maker Smith & Nephew said it was expanding in the fast-growing area of bioactive wound care by acquiring privately-held U.S. firm Healthpoint.

S&N said it would pay $782 million in cash for the company, which makes Santyl, an ointment for the removal of dead tissue in wounds, and is in phase III trials for a treatment for leg ulcers.

Healthpoint had $190 million revenues in 2012 and S&N expects the deal to be accretive to earnings from 2013, it said on Wednesday.