BSN Acquisition Of Casting & Splinting Business Of DePuy Inc.

Business Editors

LONDON--(BUSINESS WIRE)--Dec. 11, 2003

Smith & Nephew plc (LSE:SN, NYSE:SNN) notes that BSN Medical, its 50/50 joint venture with Beiersdorf AG, has today announced its intention to acquire the casting and splinting business of DePuy, Inc., a Johnson & Johnson company, which has global sales of $42m.

This acquisition, which will be financed out of the existing non-recourse bank facilities of BSN Medical, is a further step in establishing BSN as a major independent medical devices company.

The transaction is subject to merger clearance in a number of national authorities in Europe. BSN hopes to complete the transaction by the end of the first quarter of 2004.

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Smith & Nephew (LSE:SN, NYSE:SNN) is one of the world's leading medical devices companies, specialising in Orthopaedics, Endoscopy and Advanced Wound Management. Smith & Nephew ranks as the global leader in arthroscopy and advanced wound management and is the fastest growing full-line orthopaedics company in the world.

Smith & Nephew is dedicated to helping improve people's lives. The company prides itself in the strength of its relationships with its surgeon and healthcare professional customers, with whom its name is synonymous with the highest standards of performance, innovation and trust. The company has over 7,500 employees and operates in 32 countries around the world, generating sales of GBP 1.1 billion.