Smith and Nephew sales practices May 3rd, 2008

The medical equipment company, Smith and Nephew, has warned that unacceptable business practices in a company that it bought last year is likely to cost it £50m in lost sales this year. The concerns centre around Plus Orthopedics, a business which cost S&N £450m. S&N have been quick to issue a statement to the effect that the issues only relate to this company and that they have been quick to ensure the practices no longer continue. Despite the decisive action, profits at S&N are expected to be $25m lower this year as a result.