S&N expects Birmingham hip to keep market lead

LONDON, Aug 2 (Reuters) - Britain's Smith & Nephew (SN.L) said on Thursday it expected its Birmingham hip implant to keep its market-leading position in the face of new competition from bigger U.S. rival Stryker (SYK.N).

"We do not expect to lose our market leading position, even though Stryker is a good competitor," Chief Executive David Illingworth told reporters.

The Birmingham hip was the first of a new kind of less-invasive implant to be approved by U.S. regulators.

However, Britain's Corin Group CRG.L won U.S. approval for its rival Cormet implant last month, which will be marketed by Stryker in the United States.

Illingworth also told a conference call that he remained "very committed" to Smith & Nephew's (S&N) woundcare business, which has lagged the growth of its other operations. Some analysts have speculated S&N might sell the division.

"We believe there is a lot of value and upside in this business," Illingworth said.