Acquisition of DePuy Casting and Splinting
BSN medical Inc., the US orthopaedics affiliate of BSN medical GmbH & Co KG, the German based joint venture between Beiersdorf AG and Smith & Nephew PLC, today announces the acquisition of the Casting and Splinting business from DePuy, Inc., a Johnson & Johnson company. This business had sales of $42m in 2002.

The transaction is subject to merger clearance in a number of national authorities in Europe. BSN hopes to complete the transaction in the first quarter of 2004.

Financing will be through BSN's current banking facilities.

Graham Siddle, BSN's Chief Executive, said: 'The acquisition will strengthen BSN's global fracture management business; especially in the large US market. Furthermore it illustrates our strategy of targeting attractive bolt-on products and companies that add real value to BSN.'

Enquiries:

BSN medical GmbH & Co KG (Tel: 01564 711851)
Graham Siddle, Chief Executive

Financial Dynamics (Tel: 020 7831 3113)
David Yates