Smith & Nephew Settles Greek Bribery Charges

Smith & Nephew has agreed to pay the U.S. government more than $22 million to settle charges that the company bribed Greek public doctors over more than a decade.

The government had charged Smith & Nephew's U.S. subsidiary under the Foreign Corrupt Practices Act. The government alleged that the company used a distributor to create a "slush fund" to forward payments to doctors working at government hospitals in Greece in order to win business.

This won't come as a shock to readers of Michael Lewis's book, Boomerang. In the book Lewis claims that Greece has a well known culture of cheating on taxes, bribing public officials and cooking the public books.

The company has committed to pay $22,226,799 in fines and profit disgorgement, maintain an enhanced compliance program, and appoint an independent monitor for at least 18 months to review and report on its compliance program.

Smith & Nephew plc Announces Result Of New Study For BIRMINGHAM HIP Resurfacing (BHR) System

Smith & Nephew (NYSE:SNN; LSE:SN), the global medical technology business, today announced the results of a new study for its BIRMINGHAM HIPT Resurfacing (BHR) System. The study, carried out at the request of the FDA, followed the progress of the first 400 BHR patients in the United Kingdom and found that after 10 years, 99% were either satisfied or extremely satisfied with their BHR procedure.

"These results further exemplify why the BHR Hip is unlike any other metal-on-metal implant," says John Soto, Senior Vice President for Smith & Nephew's Global Hip Franchise. "Not only does the BHR Hip offer all the advantages of hip resurfacing, including bone-conservation, greater range of motion and decreased risk of dislocation, but it does so while maintaining implant survivorship rates that are on par with, or in some patient populations even better
than, traditional total hip replacement which has long been considered the most successful orthopaedic surgical procedure for relieving chronic pain."

POLARCUP™ Dual Mobility Hip System From Smith & Nephew Now Available in US

Smith & Nephew (NYSE: SNN; LSE: SN), the global medical technology business, is introducing the clinically proven POLARCUP™ Dual Mobility Hip System to orthopaedic surgeons in the US at this year's American Academy of Orthopaedic Surgeons (AAOS) annual meeting in San Francisco. The system is specifically designed to address the challenges of treating patients – in both primary and revision cases – who are susceptible to dislocation and need enhanced stability.

Backed by 10 years of clinical history in Europe and other markets outside the US, the POLARCUP System allows surgeons to implant a smaller, constrained femoral component within a larger, anatomically sized polyethylene head, thus providing greater stability by increasing range of motion and jump distance. "This stability philosophy is widely used in the European market where surgeons have extensive experience with dual mobility in elderly and less active patients," says John Soto, Senior Vice President for Smith & Nephew's Global Hip Franchise.

Patient-Matched Knee-Replacement Technology Shows Value for Patients and Surgeons

Smith & Nephew (NYSE: SNN, LSE: SN) announces the publication of a new study on the value of patient-matched technology for total knee replacement. Published in the Journal of Arthroplasty (JOA), the official Journal of the American Association of Hip and Knee Surgeons, this first-of-its-kind study specifically looked at the VISIONAIRE patient-matched system from Smith & Nephew. 

With the VISIONAIRE system, a surgeon uploads each patient's specific MRI and X-Ray images into Smith & Nephew's proprietary web-based software. A Smith & Nephew engineer then uses this data to design and build customized surgical instruments that accommodate the unique shapes and angles of each patient's joint for a more precisely aligned implant.

According to the JOA study, surgeries that used patient-matched instruments resulted in implants that were a full degree closer to neutral - the body's natural alignment - than those using traditional instrumentation. The accurate placement of an implant has been shown to reduce implant wear and improve the longevity of an implant.[i]

Additional key findings in the study are that patient-matched technology:

 Reduces the amount of time a patient spent under anaesthesia;
 Shortens a patient's hospital stay;
 Shortens the length of the incision required for knee replacement surgery.

Also, because patient-matched technology reduces the number of instrument trays required by 43% and eliminates more than 20 surgical steps for each surgery[ii], it may reduce hospital expenses related to total knee replacements by cutting sterilization costs and increasing OR efficiency.

"Patient-matched technology is driving a shift in thinking for our entire industry," says Scott Elliott, SVP of Smith & Nephew's Global Knee Franchise. "This study clearly shows that VISIONAIRE patient-matched technology improves outcomes for patients, simplifies the OR experience for surgeons and pulls cost out of the healthcare system."

"Our position as leaders in patient-matched technology is clear," says Elliott. "Moving forward, we'll continue to meet the growing demand for VISIONAIRE instrumentation as we simultaneously develop new applications for its use across our entire portfolio."

About Smith & Nephew Smith & Nephew is a global medical technology business with global leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine, Trauma and Clinical Therapies. The Company has distribution channels, purchasing agents and buying entities in over 90 countries worldwide. Annual sales in 2010 were nearly $4.0 billion.

Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust.

Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In particular, statements regarding planned growth in our business and in our operating margins discussed under "Outlook" are forward-looking statements as are discussions of our product pipeline. These statements, as well as the phrases "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions, are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors (including, but not limited to, the outcome of litigation and regulatory approvals) that could cause the actual results, performance or achievements of Smith & Nephew, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20F, for a discussion of certain of these factors.

All forward-looking statements in this press release are based on information available to Smith & Nephew as of the date hereof. All written or oral forward-looking statements attributable to Smith & Nephew or any person acting on behalf of Smith & Nephew are expressly qualified in their entirety by the foregoing. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement contained herein to reflect any change in Smith & Nephew's expectation with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

[i] Longstaff LM, Sloan K, Stamp N, Scaddan M, Beaver R. Good Alignment after total knee arthroplasty leads to faster rehabilitation and better function. J Arthroplasty. 2009 Jun;24(4):570-578

[ii] Number of steps based on GENESIS II Primary surgical technique

SOURCE Smith & Nephew

Smith & Nephew получило разрешение на продажу карманной системы PICO на территории США.

Tampa Bay Business Journal
Date: Friday, January 6, 2012, 10:00am EST

Управление по продовольствию и лекарствам (FDA) США выдало разрешение на использование  карманной системы PICO производства Smith & Nephew.

PICO это аппарат для лечения ран отрицательным давлением в карманном исполнении.  FDA согласовало использование PICO в госпитальных и домашних условиях,  и расширило сферу применения аппаратов терапии ран пониженным давлением на широкий ряд пациентов.

“Система PICO демонстрирует нашу приверженность инновациям и подтверждают наши обязательства помочь снизить расходы на лечение ран для частных лиц и государства,” сказал Thomas Dugan, президент Smith & Nephew Advanced Wound Management, North America, с головным офисом в St. Petersburg. Офис в  St. Petersburg - это авангард медицинских технологий  Smith & Nephew, именно здесь осуществляется большинство разработок S&N.

Smith & Nephew ранее уже запустил проект  PICO в Европе, Канаде и Австралии.