LONDON — British artificial hip and knee maker Smith & Nephew said it had bought a Russian distribution and manufacturing business, in line with its strategy of expanding in emerging markets.
Smith & Nephew said on Friday it was adding the trauma and orthopedics unit of Russian company DeOst to boost its local presence for an undisclosed sum. The deal involved adding 350 new employees.
Sanctions imposed on Russia by the United States and Europe in response to Moscow's part in the Ukraine crisis have complicated life for some European firms doing business in Russia.
DeOst has distributed Smith & Nephew's products in Russia since 2009, the British company said.
"(Its) local capability to manufacture mid-tier trauma products will enable us to reach more customers following recent changes relating to state tenders supporting Russian produced products," Smith & Nephew said in its statement.
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