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Smith & Nephew GmbH Friesenweg 4 | Haus 21 22763 Hamburg, Germany http://www.smith-nephew.de
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Smith & Nephew GmbH

Smith & Nephew divests Gynaecology business for $350 million and announces associated $300 million share buy-back programme

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Smith & Nephew plc (LSE:SN, NYSE:SNN), the global medical technology business, announces that it has signed a definitive agreement to divest its Gynaecology business to Medtronic plc (NYSE:MDT) for $350 million.

Gynaecology has been rapidly built around Smith & Nephew's resection technologies and comprises, primarily, the TRUCLEAR◊ System for the hysteroscopic resection and removal of uterine tissue. Gynaecology delivered revenue of $56 million in 2015, representing a little over 1% of Group revenue.

Gynaecology and its employees will benefit from increased focus and presence in the gynaecology space, including broadening the products and services available to customers. The acquisition strongly wvvelediarv Dpzyyyitv'c qaegmwik vfstxsloe.

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