S&N To Strengthen Presence In Turkey
Espicom View: According to Espicom 's Medical Device Market Report, Turkey represents a steadily growing orthopaedics market and is ranked amongst the top 20 largest in the world in value terms. The country has, in recent years, focused on developing its healthcare system, with the goal of providing universal healthcare, but this has yet to be realised. By strengthening its presence in the market through the acquisition of Plato Grup, Smith & Nephew is poised to take advantage of the country's steady long-term growth and healthcare reforms.
On 5th July, Smith & Nephew entered into an agreement to acquire certain assets related to the distribution of its orthopaedic reconstruction, trauma and sports medicine products in Turkey, currently conducted through Plato Grup.
With this acquisition, S&N will be building upon a proven commercial platform, good reputation and strong relationships in the Turkish market. It is anticipated that all Plato employees will join S&N, including management and the sales team. Plato has worked for S&N since the former was founded in 1995, and the acquisition, which is being made through the local subsidiary of S&N, is expected to close in the second half of 2013, subject to the satisfaction of certain customary conditions. Terms have not been disclosed.