1856
Smith+Nephew established
1856-1896
Thomas James Smith opened a chemist shop in Hull,
UK and develops a new method for refining cod liver oil.
In 1896 Horatio Smith entered a partnership with his uncle forming TJ Smith & Nephew
1914
Days after the outbreak of WW1, we received an order to provide surgical and field dressing supplies to French
army within 5 months
From 50
To 1200 1928
We produced an
1995
Acquired
Acufex Microsurgical Inc, making us a market leader in arthroscopic surgical devices
1995
We were listed on the New York Stock Exchange and in 2001 became a constituent member
1986
Key acquisitions of Richards Medical in Memphis, specialists in orthopaedic products and DYONICS, an
arthroscopy specialists based in Andover
2001
Introduced OXINIUM◊, a new material that improves performance and increases the service life of total
During WW1, staff grew from 50 to 1,200
1937
We developed a special low-temperature plaster
for the Everest climbers on the 1953 expedition.
It enabled them to send back camera films, sealed
and airtight!.
experimental bandage ElastoplastTM
1937
We were listed on the London stock exchange
of the UK FTSE-100 index
joint replacement systems 2011
PICO◊, the first pocket-sized, single-use system, revolutionizes the negative pressure wound therapy market
2013
JOURNEY◊ II BCS sets a new standard in knee implant performance, designed to empower patients
2020
Acquired
2019
Expanding in technologies of the future, we acquired:
Osiris Therapeutics
Ceterix Orthopaedics
Leaf Patient Monitoring System
Brainlab Orthopaedic Joint Reconstruction Business
2020
2017
Acquired tissue regeneration developer Rotation Medical
2021
2015
Acquired Blue Belt Technologies securing a leading position in orthopaedic robotics-assisted surgery
2014
Acquired Arthrocare Corp. to expand our sports medicine portfolio
~17,500
employees over 100 Countries
Today
Tusker Medical Inc.
to expand even more our ENT medicine portfolio
Launched
Real Intelligence and CORI◊ Surgical System; next generation handheld robotics platform
Launched SMART TSF Circular Fixator; WEREWOLF ◊ FASTSEAL
6.0 and LEGION CONCELOC;
FAST-FIX FLEX Meniscal Repair System; INTELLIO Connected Tower
3
2024
Acquired CartiHeal developer of novel technology
for cartilage regeneration
We exist to restore people's bodies and their self-belief by using technologies to take the limits off living. We call this purpose
"Life Unlimited"
100
100
Smith+Nephew is a portfolio medical
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$5.28bn
Annual sales in 2022 wAnerneua$l5s.2alebsillinon2024 were $5.8 billion
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We have around 19,000 emploWyeeehsagvleobaarlolyund 17,500
employees globally
4
Our performance
Revenue
$5,810m +5.3%*
Trading profit
$1,049m 18.1% margin
Trading cash conversion
95%
5212 5215 5549 5810
4560
683
936 901 970 1049
101%
88%
49%
65%
95%
2020 2021 2022 2023 2024
2020 2021 2022 2023 2024
2020 2021 2022 2023 2024
Adjusted earnings per share (EPSA)
84.3¢
80.9 81.8 82.8 84.3
64.6
2020 2021 2022 2023 2024
Dividend per share
37.5¢**
37.5 37.5 37.5 37.5 37.5
2020 2021 2022 2023 2024
Net debt
$2,709m***
2535 2776 2709
1926 2049
2020 2021 2022 2023 2024
* Underlying growth percentage after adjusting for the effect of currency translation, acquisitions and disposals.
** Proposed dividend of 37.5¢ 5
*** Net debt includes lease liabilities.
A portfolio medical technology business
ALLEVYN◊ LIFE
Advanced Foam Wound Dressings
Advanced Wound Care
Advanced Wound Devices
PICO◊
Negative Pressure Wound Therapy
Collagenase SANTYL◊ Ointment Enzymatic debrider
COBLATION◊
Wand
REGENETEN◊
Bioinductive Implant
Advanced Wound Bioactives
ENT
Arthroscopic Enabling Technologies
Sports Medicine Joint Repair
$5.8bn Revenues(2024)
Other Recon
CORI◊
Surgical System
Knees
Hips
Trauma & Extremities
JOURNEY◊ II BCS
Bi-Cruciate Stabilised Knee System
OR3O◊
Dual Mobility
EVOS◊
Plating System
6
Leading positions in attractive marketsSports Medicine
Orthopaedics
Advanced Wound Management
Hip and Knee Implants Trauma and Extremities
$6.1bn
+5%
2024 market growth rate
+7%
2023 market growth rate
$16.8bn
+5%
2024 market growth rate
+8%
2023 market growth rate
$14.6bn
+7%
2024 market growth rate
+7%
2023 market growth rate
$12.5bn
+6%
2024 market growth rate
+5%
2023 market growth rate
DePuy Mitek 9%
Stryker
13%
Others
16%
Smith+Nephew
28%
DePuy Synthes 19%
Others
15%
Smith+Nephew
10%
Zimmer Biomet 31%
Others
37%
Smith+Nephew
4%
DePuy Synthes 24%
Others
55%
Smith+Nephew
14%
Solventum
15%
Mölnlycke
Arthrex
34%
Stryker
25%
Zimmer Biomet 11%
Stryker
24%
ConvaTec
6%
10%
~4% Weighted Average Market Growth Rate
based on pre-COVID 2017-19 growth
All market sizes and shares are 2024 estimates. These are generated by Smith+Nephew, based on publicly available sources
and internal analysis, and represent an indication of market shares and sizes. 7
Solid long-term demand drivers intactPrevalence Growth in lifestyle related health conditions
Lifestyle Higher levels of physical activity later in life
Demographics More patients from
better life expectancy
Emerging markets Economic development driving healthcare access
Decentralised care
Shift to outpatient settings accelerated by COVID
8
The right to win across all business unitsOrthopaedics
Sports Medicine & ENT
Advanced Wound Mgmt.
Full range across hips and knees
Differentiated implant technology, e.g. JOURNEY◊ II, OXINIUM◊, OR3O◊, EVOS◊
Robotic enabling technology, CORI◊ continuing to extend its functionality
Complete offering of Joint Repair, Tower, customer service
Leadership positions across key Sports Medicine segments
Scaleable synergies with other areas, through CORI and ASCs
Broadest portfolio of solutions covering all key wound types
Leading NPWT platform with market expansion potential
Strong evidence base, distinguishing from value segment
9
Delivering consistently higher revenue growth
Sustained acceleration
Shift to consistently higher growth maintained YTD 2025
5% growth delivered YTD despite two fewer trading days
Better commercial execution
Improvement in US Recon performance continues
US Hips acceleration a further example of innovation-driven growth
Underlying revenue growth 2016-YTD 2025
Consistently higher growth
Historic growth | COVID disruption |
3%
2% 2%
4.4%
10.3%
4.7%
7.2%
5.3% 5.0%
Average 2016-2019
-12.1%
2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD 2025
10
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