27th Sep 2007 16:15
Smith & Nephew Plc27 September 2007 Smith & Nephew in discussions with theNew Jersey Department of Justice 27 September Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business,announces that, following the receipt of a subpoena in March 2005, it is indiscussions with the United States Attorney for the District of New Jersey toagree a settlement in relation to the investigation into the company'sconsulting contracts with surgeons. These discussions are in an advanced stage and the company believes that theresolution will not be materially adverse to the company. The company furtherbelieves that the company's procedures for the establishment and maintenance ofconsulting contracts with surgeons are compliant with the law. Smith & Nephew anticipates that these discussions will be promptly concluded andit will make a further announcement when it is appropriate to do so. The United States Attorney for the District of New Jersey, Mr Christopher J.Christie, has reviewed this announcement and approved its contents. Enquiries Investors Liz Hewitt Tel: +44 (0) 20 7401 7646Smith & NephewGroup Director Corporate Affairs Media Jon Coles Tel: +44 (0) 20 7404 5959Brunswick - London David Shapiro Tel: +1 (202) 393 7337Brunswick - Washington About Smith & Nephew Smith & Nephew is a global medical technology business, specialising inOrthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies, Endoscopyand Advanced Wound Management products. Smith & Nephew is a global leader inarthroscopy and advanced wound management and is one of the leading globalorthopaedics companies. Smith & Nephew is dedicated to helping improve people's lives. The Companyprides itself on the strength of its relationships with its surgeons andprofessional healthcare customers, with whom its name is synonymous with highstandards of performance, innovation and trust. The Company has 9,600 employeesand operates in 31 countries around the world generating annual salesapproaching $2.8 billion. Forward-Looking Statements This press release contains certain "forward-looking statements" within themeaning of the US Private Securities Litigation Reform Act of 1995. Inparticular, statements regarding expected revenue growth and trading marginsdiscussed under "Outlook" are forward-looking statements as are discussions ofour product pipeline. These statements, as well as the phrases "aim", "plan","intend", "anticipate", "well-placed", "believe", "estimate", "expect","target", "consider" and similar expressions, are generally intended to identifyforward-looking statements. Such forward-looking statements involve known andunknown risks, uncertainties and other important factors (including, but notlimited to, the outcome of litigation, claims and regulatory approvals) thatcould cause the actual results, performance or achievements of Smith & Nephew,or industry results, to differ materially from any future results, performanceor achievements expressed or implied by such forward-looking statements. Pleaserefer to the documents that Smith & Nephew has filed with the U.S. Securitiesand Exchange Commission under the U.S. Securities Exchange Act of 1934, asamended, including Smith & Nephew's most recent annual report on Form 20F, for adiscussion of certain of these factors. All forward-looking statements in this press release are based on informationavailable to Smith & Nephew as of the date hereof. All written or oralforward-looking statements attributable to Smith & Nephew or any person actingon behalf of Smith & Nephew are expressly qualified in their entirety by theforegoing. Smith & Nephew does not undertake any obligation to update or reviseany forward-looking statement contained herein to reflect any change in Smith &Nephew's expectation with regard thereto or any change in events, conditions orcircumstances on which any such statement is based. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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