Smith & Nephew Buys Distribution And Manufacturing Business From DeOst In Russia

(RTTNews) - Smith & Nephew plc (SN.L, SNN), a medical technology company, announced Friday the acquisition of the trauma and orthopaedics business of DeOst LLC and DC LLC, a manufacturing company in the DeOst group.

Following the deal, approximately 350 new employees have joined Smith & Nephew. The terms of the transaction have not been disclosed.

DeOst has distributed Smith & Nephew's products in Russia since 2009. Smith & Nephew noted that DC's local capability to manufacture mid-tier trauma products will enable it to reach more customers following recent changes relating to state tenders supporting Russian produced products. Olivier Bohuon, chief executive officer of Smith & Nephew, said, "Smith & Nephew has grown its business in Russia since 2005. This investment, in-line with our strategy to build our platform in the Emerging Markets, significantly boosts our local presence and prospects and will enable us to take advantage of market dynamics and better serve Russian customers."