Smith & Nephew has announced the acquisition of the trauma and orthopedics business of DeOst LLC and DC LLC, a manufacturing company in the DeOst group. DeOst has distributed Smith & Nephew’s products in Russia since 2009.
“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,” Olivier Bohuon, CEO of Smith & Nephew, said in a company press release.
According to the release, DC’s local capability to manufacture mid-tier trauma products will enable Smith & Nephew to reach more customers following recent changes relating to state tenders supporting Russian produced products. Approximately 350 new employees have joined Smith & Nephew.
Terms of the transaction were not disclosed, according to the release.