Date: 1st April 2019
After successful two years of partnership for distribution, Smith & Nephew have settled an agreement to purchase their distributor Leaf Healthcare on Monday. Leaf Healthcare is a developer of systems for pressure injury prevention and patient mobility monitoring.
While the company did not provide much financial information about the acquisition, it said that the process would be finished in Q2 of this financial year. The process would also be influenced by certain customary condition fulfillment.
Besides that, the sum involved in the purchase was not disclosed as well. However, the company did say that it would use its cash and other debt facilities for the transaction.
Smith & Nephew believes that the monitoring system provided by Leaf Healthcare suits the product range of the company and would be highly beneficial for its patients after the acquisition. The monitoring systems can track a patient’s movement wirelessly.
This system can be integrated with Smith & Nephew products like Allevyn Gentle Border, Allevyn Life
Simon Fraser (President, Advanced Wound Management at Smith & Nephew) claims that the company is focused not only on providing medicines and cures for treatment but also on the prevention of injuries. The monitoring system of Leaf Healthcare would be in line with this goal and, according to Simon, would decrease the cost of care.
Following this announcement on Monday, shares of Smith & Nephew rose 0.8