UK firm buys Texas-based Healthpoint for $782 mln

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Associated Press

Posted on November 28, 2012 at 6:02 AM

Updated Wednesday, Nov 28 at 7:02 AM

LONDON (AP) — British medical technology company Smith & Nephew PLC says it is buying Texas-based Healthpoint Biotherapeutics for $782 million.

Smith & Nephew CEO Olivier Bohuon said Wednesday that the acquisition would strengthen the company's position in bioactive wound care.

Bohuon said, "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 British company said Healthpoint, which has 460 employees, would continue to be based in Fort Worth.

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