Smith & Nephew, a medical technology company, has agreed to acquire the assets and business of Politec Saude relating to Smith & Nephew’s Advanced Wound Management products in Brazil.
In 2013 Smith & Nephew announced its intention to acquire its Advanced Surgical Devices distribution in Brazil, bought a mid-tier trauma business in India, and acquired a direct presence in Turkey.
Through these transactions, together with this further acquisition in Brazil, Smith & Nephew is delivering on its strategic priority to build a sustainable emerging markets business.
Smith & Nephew CEO Olivier Bohuon noted being closer to the customer is at the heart of the company's emerging markets strategy.
"Brazil is an exciting long-term opportunity and this is an important investment which creates a significant platform from which we can grow," Bohuon added.
Founded in 1973 and based in Sao Paulo, Politec Saude is the sole distributor of Smith & Nephew Advanced Wound Management products registered in Brazil.
This proposed acquisition comprises approximately one-quarter of Politec's overall business. Politec will continue to operate its other businesses as usual, with its shareholding structure and management team unchanged.
It is planned that 30 employees will transfer to Smith & Nephew Brazil upon completion of the deal. The terms of the transaction have not been disclosed.
