Executive Summary
Smith and Nephew is a leading manufacturer of medical equipment and appliances. The company offers a diversified range of products related with wound management surgical equipment and has operations in more than 100 countries. The company has been targeting aggressive growth through acquisition activities and has recently acquired Arthocare for $1.2 billion.
Analyzing the company we found that during the past three years, the profit margins of the company are declining, and so do the operating cash flow. In addition, the increasing debt position and interest expenses while the liquidity and cash flow position seems unpromising forced us to
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