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Smith & Nephew says M&A 'not at top of agenda' at the moment
May 5, 2017 / 7:55 AM / 5 months ago

Smith & Nephew says M&A 'not at top of agenda' at the moment

LONDON (Reuters) - The chief executive of Smith & Nephew (SN.L) said on Friday that M&A was not at the top of his agenda, as the focus was on driving growth at the artificial knee and hip maker.

A report in the Financial Times in March said Wright Medical (WMGI.O), a U.S. company that specialize in surgical implants for extremities like feet and ankles, could be a takeover target for the British company.

S&N Chief Executive Olivier Bohuon said M&A was “always on the agenda”, and he had previously pointed to extremities as one of a number of areas of interest.

“But for the moment, this quarter, I am interested in developing my commercial excellence,” he said.

“(M&A) is still high on the agenda, but it’s not a top priority for the time being.”

Reporting by Paul Sandle; editing by Kate Holton

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