British orthopedic giant Smith & Nephew plc (NYSE:SNN) will be combining its Memphis, Tenn.-based orthopaedic reconstruction division and its Andover, Mass.-based endoscopy unit, according to a report in the Memphis Commercial Appeal.
No job cuts are expected to result from the move, but the head of the Memphis-based business, orthopaedic reconstruction president Joseph DeVivo, is leaving the company. Endoscopy president Mike Frazzette has been tapped to lead the new “advanced surgical devices” division, according to the newspaper.
“[The two divisions] serve the same customer and the same patients in many cases and we’ll continue to do so,” SNN spokesman Andrew Burns told the paper, adding that no jobs (aside from DeVivo’s and Frazette’s) will be immediately affected.
“We have no plans for this to have impact beyond more customer focus,” Burns said.
The two units made up about 90 percent of Smith & Nephew’s total U.S. sales during the first quarter.
SNN shares were up a hair to $53.85 in mid-day trading on Wall Street.