LONDON and ANDOVER, Mass., Jan. 23, 2004 (PRIMEZONE) -- Smith & Nephew plc (LSE:SN) (NYSE:SNN) today announced that its Advanced Wound Management business has acquired the VERSAJET surgical debridement product from HydroCision Inc to add to its growing range of advanced wound bed preparation products.
VERSAJET is a specialised fluid jet instrument enabling surgeons to easily remove damaged tissue and contaminants from surgical, traumatic and chronic wounds in a precise and safe manner. Approved for use in the United States, Canada and the European Union, VERSAJET was launched in 2003.
Smith & Nephew will acquire the VERSAJET product line for $5m, with additional consideration payable upon reaching future development and sales milestones. Smith & Nephew expects 2004 sales of the product to reach $2-3m.
"VERSAJET is an outstanding new technology that enables the clinician to remove contamination and dead or decaying tissue when preparing wounds for closure or healing," said Jim Dick, President of the Advanced Wound Management business of Smith & Nephew. "VERSAJET is easy to use and will strengthen our position in the rapidly growing wound bed preparation market."
Doug Daniels, President and CEO of HydroCision, added: "We are pleased that Smith & Nephew has recognised the potential value of the fluid jet technology in the field of wound care. As a leader in the advanced wound management field, Smith & Nephew is well positioned to use the fluid jet technology to help improve patient outcomes worldwide."
About Smith & Nephew
Smith & Nephew (www.smith-nephew.com) is one of the world's leading medical device companies, specialising in Orthopaedics, Endoscopy and Advanced Wound Management products. Smith & Nephew ranks as the global leader in advanced wound management and arthroscopy products and is the fastest growing full-line orthopaedics company in the world.
Smith & Nephew's Advanced Wound Management business provides the leading range of treatments for difficult to heal wounds. It develops innovative new solutions to heal chronic and acute wounds, delivering excellent and cost effective outcomes. The company has the world's leading advanced wound management sales force and provides clinicians with a full range of education programmes.
About HydroCision Inc.
Andover, Massachusetts, based HydroCision is the leading developer, manufacturer and marketer of fluid jet-based surgical tools that are the foundation of a new surgical modality -- "hydrosurgery". Hydrosurgery improves patient care by selectively removing tissue, minimizing collateral damage and bleeding and promoting the healing process. More information on the company is available at www.hydrocision.com.
This information is provided by RNS
The company news service from the London Stock Exchange