3rd Mar 2015 14:06
LONDON (Alliance News) - FTSE 100 medical technology business Smith & Nephew PLC said Tuesday it has bought its Colombian distributor EuroCiencia Colombia SA for an undisclosed amount.
EuroCiencia Colombia has been Smith & Nephew's sole distributor in Colombia since 2006.
"The acquisition of ECC is in-line with Smith & Nephew's strategic priority to supplement its organic growth through acquisitions and follows similar transactions in Brazil, Turkey and India. Smith & Nephew has built a dynamic and sustainable emerging markets business which delivered 17% revenue growth in 2014. It accounts for 15% of group revenue, up from 8% in 2010," said Chief Executive Officer Olivier Bohuon in a statement.
Shares in Smith & Nephew are trading down 3.0% at 1,163.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Smith & Nephew