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Dynamic Healthcare M&A Database - 2Q07



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Acquiring Party    Smith & Nephew Plc, a global wound care and medical technology business.
Transferring Party    Plus Orthopedics Holding AG, Swedish based supplier of cementless hip prosthesis in Europe.
Sector    Medical Devices
Date    June 1, 2007
Analysis
Increases Smith & Nephew's share of the global orthopedic reconstruction market to around 12% (4th largest mfger of hips and knees) and doubles its share of the European orthopedic reconstruction market. The Plus products are highly synergistic, leveraging the combined sales force in Europe and Asia. Estiamted $40m in cost synergies and $45m in revenue synergies. Deal value -- $889m on sales of $300m (2.96x) and EBIT of $36m (24.7x).




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The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason.