Smith&Nephew continues spree of purchases in emerging markets

3rd Mar 2015 14:31

Medical device-marker Smith&Nephew continues to snap-up assets in emerging markets.The FTSE 100-listed firm on Tuesday announced the purchase of EuroCiencia Colombia, its sole distributor for orthopaedic reconstruction, trauma and sports medicine products in that South American country.The terms of the transaction were not disclosed.Smith&Nephew's chief, Olivier Bohuon, highlighted how the acquisition of the approximately 150-strong outfit comes on the heels of similar transactions in Brazil, Turkey and India.The group's emerging markets business, which accounts for 17% of the firm's sales, saw revenues rise by 17% last year.As of 14:15 shares of Smith&Nephew were lower by 4.68% to 1,158p.