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Smith & Nephew a hunter not a target

Smith & Nephew a hunter not a target

Are you a buyer or a takeover target? That is the question medical device makers are having to ask of themselves following a period of intense consolidation. Deals such as Johnson and Johnson’s $21.3bn (£16.2bn) acquisition of orthopaedic company Synthes in 2012, or the $14bn merger that created Zimmer Biomet in 2014, have put pressure on companies to increase their scale and efficiency. Those unable to expand are likely to get left behind.

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