Smith & Nephew completes purchase of Nucryst

AP News
Posted: Dec 22, 2009 6:48 PM

Smith & Nephew PLC said Tuesday it completed its purchase of Nucryst Pharmaceuticals Corp., which manufactures Acticoat antimicrobial wound dressings.

The British company said the sale gives it substantially all of Nucryst's assets. Smith & Nephew markets the Acticoat products, while Nucryst handles manufacturing and new product development.

Nucryst agreed to sell its assets to Smith & Nephew in November for $21 million in cash, plus the value of Nucryst's working capital and other considerations.

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Nucryst is based in Fort Saskatchewan, Canada.