The company plans to make the move over the next two years, although Smith & Nephew managers say the United Kingdom site at Hull remains “cornerstone of their business” and reiterated commitment to the area with a $16 million investment at the Hull site and focus on the development and launch of new products.
Earlier this week, Smith & Nephew CEO Olivier Bohuon quelled rumors the company may be involved in a mega-merger with another medical device company any time soon. Both Medtronic and Stryker have been named as potential suitors, but Mr. Bohuon said he’s focused on strategic internal changes to compete in the medical device space in the future.
The company will release its next financial report tomorrow with additional details about the company’s strategy going forward.
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