Smith & Nephew closes Nucryst buyout

December 23, 2009 by MassDevice staff

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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