I am pleased to confirm that Smith & Nephew has successfully completed the acquisition in India of Adler Mediequip Private Limited, and with it the brands and assets of Sushrut Surgicals Private Limited. The acquired company will continue to be called 'Adler Mediequip'.
This acquisition represents a significant milestone for us: Adler Mediequip is an important first step toward strengthening and growing our Mid-tier organisation, as it already is a leader in the mid-tier market for orthopaedic reconstruction and trauma in India, with the strategies and depth of knowledge in the mid-tier segment. With the acquisition complete, we now have an immediate strong presence in the mid-tier Indian trauma marketplace, and access to an established mid-tier manufacturing and sales and distribution platform.
Please join me in thanking the team that has worked relentlessly to bring this acquisition to completion, and I look forward to continue supporting our growth strategy through acquisitions and creating sustainable businesses in the emerging markets.
Following the acquisition, the company Sushrut Surgical Pvt. Ltd. was renamed Pitre Business Ventures Pvt. Ltd. and continues to be owned by the Pitre Family. If you are looking for further details on Pitre Business Ventures Pvt. Ltd. please visit http://pitreventures.com