Smiths Medical sale of non-core businesses

Smiths Group has sold two of its specialist medical device businesses, neither of which is considered a core activity, for 7.3 million in cash. The urology products and ostomy products businesses have been purchased by Mentor Corporation, a NASDAQ-listed U.S. company.

Urology products are used by long-term incontinence sufferers and are made at Colchester, Essex. Ostomy products, used by patients following a bowel or bladder diversion operation, are manufactured in Lancing, West Sussex. These products are marketed primarily under the Simcare brand which is being transferred with the businesses. Both businesses are expected to benefit from joining a company specialising in products for this segment of the international healthcare industry.

ENDS