Smith & Nephew Acquires Turkish Distribution Assets
Smith & Nephew has acquired certain assets of its Turkish orthopedic and endoscopy products distributor, Plato Grup, in a bid to consolidate its presence in the fast-growing emerging market. Financial terms of the agreement were not disclosed.
“We are pleased to make this investment, delivering on our strategy to develop sustainable businesses in markets with good long-term growth profiles," CEOOlivier Bohuon said. "Turkey is a fast-growing market with substantial opportunity and Plato is one of the leading businesses in our segment. With this acquisition we will be building upon a proven commercial platform, good reputation and strong relationships. We will be closer to our customers and able to target new opportunities more actively.”
All Plato employees - including management and sales - are expected to join Smith & Nephew. Plato has worked for Smith & Nephew since it was founded in 1995.
The acquisition, which is being made through the local subsidiary of Smith & Nephew, is expected to close in the second half of 2013.