An interviewer at a recent medical device conference asked Phil Cowdy, head of corporate affairs at Smith & Nephew PLC, if the company had missed an opportunity in China. Orthopedic rivals Stryker Corp., Zimmer Biomet Holdings Inc., and even Medtronic PLC all purchased Chinese companies – Trauson Holdings Co. Ltd., [See Deal] Beijing Montagne Medical Device Co., Ltd., and China Kanghui Holdings, respectively [See Deal] ( to extend their reach into China’s surging orthopedics market. (See Also see "Stryker Enters China Race With Trauson Bid" - In Vivo, 22 January, 2013..) Smith & Nephew, in contrast, did not make a bold purchase.
Cowdy took a verbal step back. He noted that smaller companies are acquired because either their product or platform would...