Smith & Nephew shows ambition with acquisition of American ArthroCare
For many of a certain age the word 'hip' has changed its meaning. One time it was something we all wanted to be; it was 'cool', smart and 'state of the art'. Unfortunately for some of us hip has begun to mean something that might soon have to be replaced. However, I am happy to reveal this morning that I have found the company that combines 'hip' and hips. It is called Smith & Nephew (S&N) and has recently been named by 'Forbes' magazine as one of the "most innovative companies in the world".
S&N is a UK-based global medical technology company. It is also Europe's biggest manufacturer of artificial joints and a world leader in replacement hips. It has worldwide sales of $4.3bn (€3.1bn), employs 11,000 people, sells its products in 90 countries, and has 10 manufacturing plants around the globe.
The company became a household name in 1928 when it introduced Elastoplast, a product that has never since dropped off the 'must have' list in medicine cabinets around the world.