Wiki source code of Smith & Nephew

Version 14.1 by Asif Farooqui on 2022/07/20 14:29
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1 {{box cssClass="floatinginfobox" title="**Contents**"}}
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5 = Summary =
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7 * Smith & Nephew are a leading portfolio medical technology company.
8 * Smith & Nephew products across our three franchises: Advanced Wound Management, Sports Medicine & ENT and Orthopaedics.
9 * The company has manufacturing facilities around the world, including: UK, USA, Germany, Switzerland, Canada, India, China and Costa Rica.
10 * Recently Smith+Nephew opens manufacturing facility in Malaysia to support its orthopaedics business.
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12 [[image:SNN0.png||height="115" width="597"]]
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15 = Company Overview =
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17 Smith & Nephew (NYSE:SNN, LSE:SN) is a global medical technology company. The company is in medical technology business with focused on the repair, regeneration and replacement of soft and hard tissue..{{footnote}}https://www.smith-nephew.com/about-us/who-we-are/at-a-glance/{{/footnote}}
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20 [[image:SNN1.jpg||height="173" width="464"]]
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23 = Recent Developments =
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25 **Smith+Nephew introduces smart glasses into the operating room to enable remote technical support for UK surgeons during procedures**.{{footnote}}https://www.smith-nephew.com/news-and-media/media-releases/news/smithnephew-introduces-smart-glasses-into-the-operating-room-to-enable-remote-technical-support-for-uk-surgeons-during-procedures/{{/footnote}}
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27 11 July 2022; mith+Nephew the global medical technology company, today announces a partnership with Rods&Cones to provide smart surgery glasses and digital remote assistance to customers. By providing customers with smart surgery glasses, Smith+Nephew representatives can ‘see’ through the eyes of the surgeon, instrumentalist nurse, or any healthcare professional using them, enabling continuous remote support before, during, and after surgical interventions.
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30 Initially used in the UK to support the NHS and other customers, This solution enables technical support from anywhere in the world. The increased complexity of surgery, advancement of technologies enables a specialist is available remotely.
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32
33 **Smith+Nephew announces first robotic-assisted surgery using its LEGION◊ CONCELOC◊ Cementless Total Knee System**{{footnote}}https://www.smith-nephew.com/news-and-media/media-releases/news/smithnephew-announces-first-robotic-assisted-surgery-using-its-legion-conceloc-cementless-total-knee-system-/{{/footnote}}
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35 30 June 2022; Smith+Nephew  announces the first robotic-assisted surgery using its LEGION CONCELOC Cementless Total Knee System was performed by Dr. Cyna Khalily, an orthopaedic surgeon specializing in adult reconstructive surgery of the hip and knee in Louisville, KY.
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38 Smith+Nephew offers both total and partial cementless knee implants, and now, a robotic-assisted solution for cementless total knee arthroplasty (TKA) with the CORI◊ Surgical System. The LEGION CONCELOC Cementless Total Knee System addresses the critical elements of the cementless total knee. The asymmetrical keel is designed to provide immediate rotational stability, while the patented 3D printed structure of CONCELOC Advanced Porous Titanium encourages biological ingrowth.
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41 **Smith+Nephew opens manufacturing facility in Malaysia to support its orthopaedics business**{{footnote}}https://www.smith-nephew.com/news-and-media/media-releases/news/smithnephew-opens-world-class-manufacturing-facility-in-malaysia-to-support-its-orthopaedics-business/{{/footnote}}
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43 28 June 2022; Smith+Nephew, opened its new  manufacturing facility in Batu Kawan Industrial Park in Penang, Malaysia. The 250,000 square-foot facility, worth more than USD100 million in investment, will primarily support the company’s Orthopaedics business, which is expected to grow strongly in the Asia Pacific region.
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47 [[image:SNN2.jpg||height="397" width="595"]]
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49
50 = Financial Highlights =
51
52 == First Quarter 2022 Result ==
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54 **Smith+Nephew First Quarter 2022 Trading Update**{{footnote}}https://www.smith-nephew.com/news-and-media/media-releases/news/smithnephew-first-quarter-2022-trading-update/{{/footnote}}
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57 28 April 2022’ Smith+Nephew trading update for the first quarter ended 2 April 2022.
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59 * Q1 revenue $1,306 million (2021: $1,264 million) up 3.3% on a reported basis (including -2.6% currency effect) and up 5.9% on an underlying basis
60 * Continued strong growth from Sports Medicine & ENT and Advanced Wound Management and improved performance from Orthopaedics
61 * Sports Medicine & ENT revenue up 8.6% underlying
62 * Advanced Wound Management revenue up 8.0% underlying
63 * Orthopaedics revenue up 2.6% underlying
64 * Established Markets revenue up 4.1% underlying as elective surgery volumes recovered from Omicron impact at the start of the quarter
65 * Emerging Markets revenue up 14.3% underlying, with double-digit growth across India, the Middle East and Africa, and Latin America
66 * Continued progress with new product development programme, including US regulatory clearance for cementless knee software on its robotics-assisted CORI◊ Surgical System
67 * Focused on its Strategy for Growth, including work on productivity and commercial execution
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70 **Deepak Nath, Chief Executive Officer, said:**
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72 “Smith & Nephew is pleased with this encouraging start to the year. Sports Medicine & ENT and Advanced Wound Management continued to deliver strong growth and Orthopaedics produced an improved performance as elective procedure volumes rebounded across its segments. The growing contribution from recent product launches reflects the strength of its portfolio and innovation-led approach.
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75 “The company's Q1 performance puts it on track to deliver its guidance for this year. 2022 marks an important stepping-stone in its Strategy for Growth and towards achieving its medium-term financial performance commitments. I am excited by the prospect of driving delivery of the Strategy and bringing out the best in Smith+Nephew to realise the full potential of the business.”
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77
78 == Full year 2021 Result ==
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80 Group revenue in 2021 was $5,212 million, an increase of 14.3% on a reported basis and an increase of 10.3% on an underlying basis.{{footnote}}https://www.smith-nephew.com/global/assets/pdf/corporate/smith%20nephew%20annual%20report%202021_interactive.pdf{{/footnote}}
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83 The 2021 reported gross profit was $3,669 million. Gross margin improved from 69.4% in 2020 to 70.4% in 2021. This reflects improved operating leverage from revenue growth partially offset by higher input costs, supply chain costs and channel adjustments ahead of China volume-based procurement implementation. The prior year also included the impact of COVID with lower gross margins resulting from factory underutilisation and an increase in inventory provisions.
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86 The reported operating profit for 2021 was $593 million, a 101% increase from the previous year, reflecting improved trading compared to 2020 along with discretionary cost control. Compared to pre-COVID levels, there were headwinds from higher logistics and freight costs, ongoing COVIDrelated negative leverage from fixed costs and the implementation of China volume-based procurement. In addition, Smith & Nephew invested in R&D, bolt-on acquisitions and new product launches.
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89 Basic earnings per share (EPS) was up 17% to 59.8¢ reflecting its improved trading performance. Adjusted earnings per share (EPSA) was up 25% at 80.9¢, reflecting the improved trading performance and the lower tax trading rate.
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92 Cash generated from operations of $1,048 million is after paying out $28 million of acquisition and disposal related items, $108 million of restructuring and rationalisation expenses and $111 million for legal and other items.
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95 Liquidity and capital resources At 31 December 2021, the Group held $1,285 million (2020: $1,751 million) in cash net of bank overdrafts. The Group’s debt facilities comprise a USD $1,000 million corporate bond, EUR term loans totalling $859 million, a $1,000 million revolving credit facility and $1,285 million private placement debt. The Group had available facilities of $4.1 billion at 31 December 2021 of which $3.1 billion was drawn.
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98 [[image:SNN3.jpg]]
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100
101 = Business Overview =
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103 Smith & Nephew is a portfolio medical technology business that support the repair, regeneration and replacement of soft and hard tissue..{{footnote}}https://www.smith-nephew.com/investor-centre/about-us/our-business/{{/footnote}}
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106 The company now operate in more than 100 countries worldwide. Smith & Nephew is a constituent of the UK’s FTSE100 and its shares are traded in London and New York. Smith & Nephew has paid a dividend to shareholders on its Ordinary Shares every year since 1937.
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109 The company develop and produce products across its three franchises: Advanced Wound Management, Sports Medicine & ENT and Orthopaedics.
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111
112 == Global Franchise Areas ==
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114 The company serve customers through three global franchises
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117 **Orthopaedics**
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119 Orthopaedics includes an innovative range of Hip and Knee Implants used to replace diseased, damaged or worn joints, robotics-assisted enabling technologies that empower surgeons, and Trauma products used to stabilise severe fractures and correct bone deformities.
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122 **Sports Medicine & ENT**
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124 The company's Sports Medicine and Ear, Nose and Throat (ENT) businesses offer advanced products and instruments used to repair or remove soft tissue.
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127 **Advanced Wound Management**
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129 The company's Advanced Wound Management portfolio provides a comprehensive set of products to meet broad and complex clinical needs, to help healthcare professionals get CLOSER TO ZERO human and economic consequences of wounds.
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132 [[image:SNN4.jpg||height="301" width="502"]]
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135 == Manufacturing ==
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137 Smith & Nephew has manufacturing facilities around the world, including: UK, USA, Germany, Switzerland, Canada, India, China and Costa Rica.
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140 The company purchase raw materials, components, finished products and packaging materials from key suppliers that the company select through its centralised procurement team.
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143 The company outsource manufacturing where necessary to obtain specialised expertise or where it is possible to gain lower cost without undue risk to intellectual property. The company's suppliers are trained and monitored through on-site assessments and performance audits that include quality, service and delivery.
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146 == Key Products ==
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148 * **Advanced Wound Management - **Recognized global experts across the full spectrum of wound care{{footnote}}https://www.smith-nephew.com/key-products/{{/footnote}}
149 * **Orthopaedic Reconstruction -**Joint replacement systems for knees, hips and shoulders
150 * **Real Intelligence - **Discover how a strategic approach to re-imagine surgery is connecting human insight and surgical experience with digital solutions and a health innovations portfolio to elevate care throughout the care continuum.
151 * **Sports Medicine - **Minimally invasive surgery techniques, with a specific focus on joint repair.
152 * **Trauma & Extremities - **Providing class leading trauma internal and external fixation products
153 * **Ear, Nose and Throat - **Ear, Nose and Throat includes epistaxis, laryngeal and soft palate reduction, septoplasty, turbinate reduction, sinus surgery, and tonsils and adenoids removal.
154 * **Terms & Conditions and Warranties - Products -** Conditions and Warranties information for Smith & Nephew products.
155 * **Material Composition - **MRI Safety Information & Parameters.
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158 [[image:SNN5.jpg]]
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160
161 == **Research and Development** ==
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163 The company invested $292 million in Research and Development (R&D) in 2019, equivalent to 5.7% of Group revenue.
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167 = Company History =
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169 Smith+Nephew has a history dating back 160 years to the family enterprise of Thomas James Smith who opened a small pharmacy in Hull, England in 1856. On his death in 1896, his nephew Horatio Nelson Smith took over the management of the business.{{footnote}}https://www.smith-nephew.com/about-us/who-we-are/our-history/{{/footnote}}
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172 During the World War 1 The company was awarded a contract to supply £350,000 of surgical and field dressings, to be delivered in five months.
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175 By the late 1990s, Smith+Nephew had expanded into being a diverse healthcare conglomerate with operations across the globe, including various medical devices, personal care products and traditional and woundcare treatments.
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178 In 1998, Smith+Nephew announced a major restructuring to focus management attention and investment on three business units — wound management, endoscopy and orthopaedics — which offered high growth and margin opportunities.
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181 Smith+Nephew was incorporated and listed on the London Stock Exchange in 1937 and in 1999 the Group was also listed on the New York Stock Exchange.
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184 In 2001, Smith+Nephew became a constituent member of the FTSE-100 index in the UK.
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187 Today, Smith+Nephew is a public limited company incorporated and headquartered in the UK and doing business in many countries around the world.
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190 = References =
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192 {{putFootnotes/}}
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