Smith & Nephew Q3 Underlying Revenue Up; To Buy Blue Belt For $275 Mln

(RTTNews) - Smith & Nephew Plc. (SN.L, SNN), a medical technology company, Thursday said its third-quarter consolidated revenue totaled $1.105 billion, down 4 percent from last year's $1.148 billion. Revenue grew 4 percent on an underlying basis.

Reported revenue drop reflected effects of 9 percent adverse currency headwind offset by a 1 percent benefit from acquisitions.

According to the company, Emerging Markets revenue growth was 8 percent, despite slower sales in China.

For 2015, the company continues to expect to deliver higher underlying revenue growth than in 2014 and an improvement in trading profit margin.

Smith & Nephew also announced today an agreement to acquire Blue Belt Technologies for $275 million. This will help the company secure a leading position in the fast-growing area of robotics-assisted orthopaedic surgery.