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UK firm buys Texas-based Healthpoint for $782M

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[November 28, 2012]  LONDON (AP) -- British medical technology company Smith & Nephew PLC says it is buying Texas-based Healthpoint Biotherapeutics for $782 million.

Smith & Nephew CEO Olivier Bohuon said Wednesday that the acquisition would strengthen the company's position in bioactive wound care.

Bohuon said, "It brings material revenues from a fast growing product range, an attractive pipeline, and commercial and R&D capabilities upon which we will build."

The British company said Healthpoint, which has 460 employees, would continue to be based in Fort Worth.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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