Smith & Nephew sells consumer businesses to focus on high-tech devices
This article was originally published in Clinica
UK company Smith & Nephew has taken a major step towards transforming itself into a solely high-technology medical device company. In its biggest ever restructuring, the company is selling off its consumer division for £235 million ($375 million) and forming various agreements with the German company, Beiersdorf, on woundcare products. Shares in the company rose 14% to 232p on news of the various transactions.