The perennial chatter over the potential acquisition of Smith & Nephew (FTSE:SN, NYSE:SNN) is disruptive and unwelcome, CEO Olivier Bohuon said this week.
“It has disrupted our sales force because every day they are with [competitors] who are saying, ‘By the way, we are going to buy you,'” Bohuon told the Financial Times.
Bohuon has long been skeptical of the wisdom behind the mega-mergers that have changed the medtech landscape in recent years.
“Will they grow their top line? I bet it doesn’t work,” he said, citing the $14 billion union of Zimmer (NYSE:ZMH) and Biomet.
The pharma vet said his experience working for SmithKline Beecham when it combined with Glaxo Wellcome in 2000 fuels his skepticism.
“I’ve lived this, I’ve heard the messages,” Bohuon told the newspaper. “And 15 years later?”
The aversion to being acquired doesn’t extend to making buys, he added, noting that he’s “hungry” for expansion in wound care and trauma products.