Smith+Nephew, a UK-based medical technology firm, has announced plans to build a new R&D and manufacturing facility for its Advanced Wound Management franchise, on the suburbs of Hull, UK.
The company plans to invest more than $100m on this facility.
Go deeper with GlobalData
For the development of this facility, the company is expected to receive a grant from the UK government.
In its first ten years of operation, the new facility is anticipated to support over $10bn of sales.
Smith+Nephew Advanced Wound Management president Simon Fraser said: “This major investment demonstrates our commitment to the UK and to building our leadership in Advanced Wound Management.
“Our vision is for a world-class working environment that encourages innovation and collaboration to deliver next-generation products that improve the standard of care for the NHS and customers around the world. Smith+Nephew was founded in Hull in 1856 and we are proud to make this major investment in the region for future generations.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFollowing planning approval, the new facility will be built at Melton West business park, around eight miles from Smith+Nephew’s existing Hull site.
The company plans to replace its existing more-than-century old Hull site.
Expected to open in 2024, the facility will focus on the production of high-technology products, support the swift launches of new products, and manufacture complex materials used across Smith+Nephew’s portfolio.
The new facility is expected to be built to high sustainability standards.
————————————————————————————————————–
Image: The new site is anticipated to open in 2024. Credit: Michal Jarmoluk from Pixabay.
