Smith & Nephew closes Nucryst buyout
December 23, 2009 by MassDevice staff
Smith & Nephew closed its deal to add Fort Saskatchewan, Canada-based Nucryst's technology to its wound care portfolio.
The wound management division of Smith & Nephew (NYSE:SNN) closed its $21 million deal for Nucryst Pharmaceuticals Corp. (NASDAQ:NCST; TSX:NCS).
Smith & Nephew will use the Fort Saskatchewan, Canada-based company's nanocrystalline silver technology intellectual property in its Acticoat wound dressing, the second-largest brand in its wound management portfolio, according to a press release.
Smith & Nephew will absorb all the manufacturing assets from Nucryst’s Fort Saskatchewan, Canada operations and its entire intellectual property estate, according to the release.
The wound management division, which houses its U.S. headquarters in St. Petersburg, Fla., announced the deal in November.
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