Full Press Release Details
This is a climate neutral print product for which carbon emissions have been calculated and offset by supporting recognised carbon offset projects. Designed and Produced by Radley Yeldar. 2024 Annual General Meeting 1 May First quarter Trading Report 1 May Payment of 2023 final dividend 22 May Half-year results announced 1 August1 Third quarter Trading Report 31 October Payment of 2024 interim dividend October/November 2025 Full year results announced February Annual Report available February/March Annual General Meeting April 1 Dividend declaration dates.
The FSC label on this product ensures responsible use of the world's forest resources. Park works to the EMAS standard and its Environmental Management System is certified to ISO 14001. This publication has been manufactured using 100% offshore wind electricity sourced from UK wind. 100% of the inks used are vegetable oil based, 95% of press chemicals are recycled for further use and, on average 99% of any waste associated with this production will be recycled and the remaining 1% used to generate energy.
Please refer to the Notice of Meeting for detailed information on how to vote and submit your questions. The meeting will commence at 12:00pm with doors opening from 11.00am. Registered shareholders have been sent either a Notice of Annual General Meeting or notification of availability of the Notice of Annual General Meeting. This report was printed by Park Communications, a certified carbon neutral print company, on Magno Satin an FSC certified paper.
(Source: https://www.epa.gov/system/ files/documents/2023-01/eGRID2021_summary_tables. pdf, accessed Nov 7th 2023). References from business unit sections continued 264 Smith+Nephew Annual Report 2023 Financial calendar Annual General Meeting The Company's Annual General Meeting ( AGM') will be held on Wednesday, 1 May 2024 at 12:00pm at Smith+Nephew Academy London, Building 5, Croxley Park, Hatters Lane, Watford, Hertfordshire, WD18 8YE.
RENASYS EDGE System Human Factors Summative Report Summary. Internal Report. CSD. AWM.22.071. 4 Smith+Nephew 2022. Summary of RENASYS EDGE pump cleaning, self-test and maintenance. Internal Report. CSD. AWM.22.068. 5 Smith+Nephew 2022. Summary of RENASYS EDGE pump mechanical and electronic reliability testing. Internal Report. CSD.AWM.22.069. 6 When EDGE device operates at a standard -125mmHg with a power consumption of 1.14W/hour vs when TOUCH operates at a standard -120mmHg with a power consumption of 3.75W/hour. 7 Amount of electricity saved by RENASYS EDGE instead of RENASYS TOUCH being equivalent to charging an iPhone 13 Pro over 2,866 times with a 12Wh battery e.g. iPhone13 Pro is 11.97Wh (https://en.wikipedia.org/ wiki/IPhone_13_Pro, accessed Nov 7th 2023) over a 5-year period assuming a RENASYS EDGE utilisation of 30%. 5 years is the device's lifetime as per design input assuming a 30% utilisation rate equivalent to 13,149 run hours. 8 Over a 5-year period of use in the U.S. assuming a RENASYS EDGE utilisation of 30% and U.S. national Grid intensity of 0.857 lbCO2/kWh.
References from products (page 59) 1 Smith+Nephew 2022. Summary of footprint, portability, wearability, weight and audible noise for the RENASYS EDGE system. Internal Report. CSD.AWM.22.067 2 Smith+Nephew 2022. How the RENASYS EDGE Negative Pressure Wound Therapy System provides continuity of care to the patient Internal Report. EO.AWM. PCS270.003.V1. 3 Smith and Nephew 2022.
Int Wound J. 2020;1 11. * Up to 5 days for the sacral area. ** OASIS is manufactured by Cook Biotech, Inc. ***Compared to baseline trajectory, n=52 wounds; p<0.006. Compared to care with standard dressings; p<0.00001; meta-analysis of 29 studies (odds ratio (OR): 0.37). Between 2014 and 2017 in the US. For detailed product information, including the indications for use, contraindications, effects, precautions and warnings, please consult the product's Instructions for Use (IFU) prior to use.
Internal Report. CSD.AWM.22.068. 54 Agency for Healthcare Research and Quality website. Preventing pressure ulcers in hospitals: a toolkit for improving quality of care. Updated October 2014. Accessed February 2021. https://www.ahrq.gov/professionals/ systems/hospital/pressureulcertoolkit/putool1.html 55 Wassel C, Delhougne G, Gayle J et al. Risk of readmissions, mortality, and hospital-acquired conditions across hospital-acquired pressure injury (HAPI) stages in a US National Hospital discharge database.
Internal Report. CSD.AWM.22.071. 51 Smith+Nephew 2022. Summary of footprint, portability, wearability, weight and audible noise for the RENASYS EDGE system. Internal Report. CSD.AWM.22.067. 52 Smith+Nephew 2022. Summary of RENASYS EDGE pump mechanical and electronic reliability testing. Internal Report. CSD.AWM.22.069. 53 Smith+Nephew 2022. Summary of RENASYS EDGE pump cleaning, self-test and maintenance.
Paper presented at: EWMA; 2018; Krakow, Poland. 49 Forlee M, Richardson J, Rossington A, Cockwill J, Smith J. An interim analysis of device functionality and usability of RENASYS TOUCH a new portable Negative Pressure Wound Therapy (NPWT) system. Paper presented at: Wounds UK; 2016; Harrogate, UK. 50 Smith+Nephew 2022. RENASYS EDGE System Human Factors Summative Report Summary.
Paper presented at: SAWC; 2020; Virtual. 47 Hurd T, Trueman P, Rossington A. Use of a Portable, Single-use Negative Pressure Wound Therapy Device in Home Care Patients with Low to Moderately Exuding Wounds: A Case Series. Ostomy Wound Manage. 2014;60(3):30 36. 48 Forlee M, van Zyl L, Louw V, Nel J, Fourie N, Hartley R. A randomised controlled trial to compare the clinical efficacy and acceptability of adjustable intermittent and continuous Negative Pressure Wound Therapy (NPWT) in a new portable NPWT system.
Single-Use negative-pressure wound therapy versus conventional dressings for closed surgical incisions: systematic literature review and meta-analysis. BJS Open. 2021;0(0):1 8. 46 Gilchrist B, Robinson M, Jaimes H. Performance, safety, and efficacy of a single use negative pressure wound therapy system for surgically closed incision sites and skin grafts: A prospective multi-centre follow-up study.
Internal Report. DOF 0703007. 41 Lavery et al. Int Wound J. 2014; 11(5): 554 560. 42 McGinness K, Kurtz Phelan DH. Wounds. 2018; 30(4): 90 95. 43 Nherera et al. Ostomy Wound Manage. 2017;63(12):38 47. 44 Dowsett C, Hampton K, Myers D, Styche T. Use of PICO to improve clinical and economic outcomes in hard-to-heal wounds. Wounds International. 2017;8(2):5258 45 Saunders C, Nherera LM, Horner A, Trueman P.
Internal Report. DOF 0707052. 38 Smith+Nephew 2008. A multi-centre in-market evaluation of ALLEVYN Ag dressings. Internal Report. SR/CIME/009. 39 Smith+Nephew 2018. PMCF Research for Allevyn Ag Adhesive. Internal Report. PMS-273-01. 40 Smith+Nephew 2007. Antimicrobial Activity of ALLEVYN Ag Adhesive Dressing Against a Broad Spectrum of Microorganisms.
Cadexomer iodine effectively reduces bacterial biofilm in porcine wounds ex vivo and in vivo. Int Wound J. 2019;16(3):674 83. 36 Smith+Nephew 2007. Antimicrobial Activity of Allevyn Ag Non-Adhesive Dressing against a Broad Spectrum of Microorganisms. Internal Report. DOF 0703006. 37 Smith+Nephew 2007. Antimicrobial activity of ALLEVYN Ag dressings against a broad spectrum of wound pathogens using a dynamic shake flask method.
Internal Report. DS/12/127/DOF. 29 Smith+Nephew 2021. Internal Report. EA/AWM/ ALLEVYN/001v4. 30 Smith+Nephew. Internal Report. 151008. 31 Nherera LM et al. Wound Repair Regen. 2017;25(4):707 721. 32 Smith+Nephew. Internal Report. RR-WMP07330-10-03. 33 Skog E et al. British Journal of Dermatology. 1983;109:77 83. 34 Fitzgerald DJ et al. Wound Repair Regen. 2016;25(1):13 24. 35 Roche ED, Woodmansey EJ, Yang Q, et al.
Clinical performance and positive impact on patient wellbeing of ALLEVYN Life. Wounds UK. 2013;9(4):91 95. 27 Smith+Nephew 20 June 2016.A Randomised Cross-Over Clinical Evaluation to Compare Performance of ALLEVYN Life and Mepilex Border Dressings on Patient Wellbeing-Related Endpoints. Internal Report. CE/047/ALF. 28 Smith+Nephew 14 June 2012. Odour reducing properties of ALLEVYN Life.
Internal report CSD.AWM.23.010. 24 Smith+Nephew 2016.New ALLEVYN Life Gen2 wcl Physical Testing. Internal Report. DS/15/025/R. 25 Smith+Nephew 2018. Use of Moisture Vapour Permeability* (MVP) and Moisture Vapour Transmission Rate** (MVTR) data to support product claims referring to moist wound healing. Internal Report. EO.AWM.PCSgen.001.v2. 26 Rossington A, Drysdale K, Winter R.
Simulated Wound Model Testing of ALLEVYN Life and Mepilex Border. Internal Report. DS/12/130/DOF. 22 Smith+Nephew. Subjective comparison of masking ability of the New ALLEVYN LIFE versus Current ALLEVYN LIFE by Healthcare Professionals. Internal Report. 2016; DS/16/061/R. 23 Smith+Nephew 2023. Calculation of global packaging comparison for ALLEVYN Dressings compared to leading competitors.
Wounds UK. 2013;9(4):91 95. 19 Stephen-Haynes J, Bielby A, Searle R. The clinical performance of a silicone foam in an NHS community trust. Journal of Community Nursing. 2013;27(5):50 59. 20 Simon D, Bielby A. A structured collaborative approach to appraise the clinical performance of a new product. Wounds UK. 2014;10(3):80 87. 21 Smith+Nephew 2012.
DS/14/303/R. 16 Smith+Nephew 2016. Product Performance of Next Generation ALLEVYN Life Internal Report. (HVT080) GMCA-DOF/08. 17 Lisco C. Evaluation of a new silicone gel-adhesive hydrocellular foam dressing as part of a pressure ulcer prevention plan for ICU patients. In: WOCN; 2013. 18 Rossington A, Drysdale K, Winter R. Clinical performance and positive impact on patient wellbeing of ALLEVYN Life.
Accessed May 19, 2022. https://nursing.usc.edu/blog/self-care-with-diabetes/ 13 di Gesaro A. Self-care and patient empowerment in stoma management. Gastrointestinal Nursing. 2012;10(2):19 23. 14 Spinks J. Self care in urinary incontinence. SelfCare. 2011;2(6):160 166. 15 Smith+Nephew 2016.Wound Model Testing of New ALLEVYN Life Gen2 wcl Dressing using Horse Serum at a Flow Rate Modelling that of a Moderately Exuding Wound.
Geneva: World Health Organization; 2020. 10 Moore, Z and Probst, S. Building the business case for shared wound care: A cost-benefit case for service providers. Wounds International 2023. 2023; 4(3) 10 15. 11 Moore Z et al. Wounds International. 2022;13(2):32 8. 12 USC University of Southern California. What Does Self-Care Mean for Individuals With Diabetes?
Internal Report. RD/19/177. 8 European Pressure Ulcer Advisory Panel, National Pressure Injury Advisory Panel and Pan Pacific Pressure Injury Alliance. Prevention and Treatment of Pressure Ulcers/Injuries: Clinical Practice Guideline. Emily Haesler (Ed.) EPUAP/NPIAP/PPPIA: 2019. 9 State of the world's nursing 2020: investing in education, jobs and leadership.
A. 33 Temple RH, Timms MS. Paediatric coblation tonsillectomy. Int J Pediatr Otorhinolaryngol. 2001;61(3):195 198. 34 Smith+Nephew 2010. Temperature Study PEAK PlasmaBlade TnA and Covidien EDGE . Internal Report. PN 86791 Rev. 1. Smith+Nephew Annual Report 2023 263 STRATEGIC REPORT GOVERNANCE ACCOUNTS OTHER INFORMATION 7 Smith+Nephew 2019. Properties of ALLEVYN LIFE advanced wound care dressing that can contribute to the effective use as part of a Pressure Injury Prevention protocol.
P/N 52918-01. 31 Spahn G, Kahl E, Muckley T, Hofmann GO, Klinger HM. Arthroscopic knee chondroplasty using a bipolar radiofrequency-based device compared to mechanical shaver: results of a prospective, randomized, controlled study. Knee Surg Sports Traumatol Arthrosc. 2008;16(6):565 573. 32 Smith+Nephew 2017. Coblation Dissection Versus Monopolar Dissection A Systematic Review and Meta-analysis P/N 91999 Rev.
Retear rates and clinical outcomes at 1 year after repair of full-thickness rotator cuff tears augmented with a bioinductive collagen implant: a prospective multicenter study. JSES Int. 2021;5(2):228 237 29 Konan S, Haddad F. Outcomes of Meniscal Preservation Using All-inside Meniscus Repair Devices. Clin Orthop Relat Res. 2010;468:1209 1213. 30 ArthroCare 2014.Comparative Performance of the FLOW 50 Wand and the Predicate Wands in Tissue Models.
Internal Report EO/SPM/ REGENETEN/005/v1. 27 Hein J, Reilly JM, Chae J, Maerz T, Anderson K. Retear Rates After Arthroscopic Single-Row, Double-Row, and Suture Bridge Rotator Cuff Repair at a Minimum of 1 Year of Imaging Follow-up: A Systematic Review. Arthroscopy. 2015;31(11):2274 2281. 28 Bushnell BD, Connor PM, Harris HW, Ho CP, Trenhaile SW, Abrams JS.
Muscles, Ligaments Tendons J. 2016;6(1):16 25. 25 Bokor DJ, Sonnabend D, Deady L et al. Preliminary investigation of a biological augmentation of rotator cuff repairs using a collagen implant: a 2-year MRI follow-up. Muscles, Ligaments Tendons J. 2015;5(3):144 150. 26 Smith+Nephew 2019. An overview of the outcomes associated with the standard of care for the surgical treatment of rotator cuff tears.
Muscles, Ligaments Tendons J. 2015;5(3):144 150. 23 McIntyre L, Bishai SK, Brown PB, Bushnell BD, Trenhaile SW. Patient-Reported Outcomes Following Use of a Bioabsorbable Collagen Implant to Treat Partial and Full-Thickness Rotator Cuff Tears. Arthroscopy. 2019 35(8):2262 2271. 24 Bokor DJ, Sonnabend D, Deady L, et al. Evidence of healing of partial-thickness rotator cuff tears following arthroscopic augmentation with a collagen implant: a 2-year MRI follow-up.
J Shoulder Elbow Surg. 2021 Aug;30(8):1938 1948. 21 Yeazell S, Lutz A, Bohon H, Shanley E, Thigpen CA, Kissenberth MJ, Pill SG. Increased stiffness and reoperation rate in partial rotator cuff repairs treated with a bovine patch: a propensity-matched trial. J Shoulder Elbow Surg. 2022 Jun;31(6S):S131 S135. 22 Bokor DJ, Sonnabend D, Deady L et al. Preliminary investigation of a biological augmentation of rotator cuff repairs using a collagen implant: a 2-year MRI follow-up.
Orthop J Sports Med. 2021 Aug 13;9(8). 19 Dai A, Campbell A, Bloom D, Baron S, Begly J, Meislin R. Collagen-Based Bioinductive Implant for Treatment of Partial Thickness Rotator Cuff Tears. Bull Hosp Jt Dis (2013). 2020 Sep;78(3):195 201. 20 Schlegel TF, Abrams JS, Angelo RL, Getelman MH, Ho CP, Bushnell BD. Isolated bioinductive repair of partial-thickness rotator cuff tears using a resorbable bovine collagen implant: two-year radiologic and clinical outcomes from a prospective multicenter study.
Bioinductive collagen implants facilitate tendon regeneration in rotator cuff tears. J Exp Orthop. 2022 Jun 8;9(1):53. 18 Bushnell BD, Bishai SK, Krupp RJ, McMillan S, Schofield BA, Trenhaile SW, McIntyre LF. Treatment of Partial-Thickness Rotator Cuff Tears With a Resorbable Bioinductive Bovine Collagen Implant: 1-Year Results From a Prospective Multicenter Registry.
Bio-inductive implant for rotator cuff repair: our experience and technical notes. Acta Biomed. 2020 Dec 30;91(14 S). 16 Thon SG, O'Malley L 2nd, O'Brien MJ, Savoie FH 3rd. Evaluation of Healing Rates and Safety With a Bioinductive Collagen Patch for Large and Massive Rotator Cuff Tears: 2-Year Safety and Clinical Outcomes. Am J Sports Med. 2019 Jul;47(8):1901 1908. 17 Camacho-Chacon JA, Cuenca-Espierrez J, Roda-Rojo V, Martin-Martinez A, Calderon-Meza JM, Alvarez-Alegret R, Martin-Hernandez C.
Arthrosc Sports Med Rehabil. 2021 Aug 20;3(5):e1473 e1479. 14 Bushnell BD, Connor P, Harris HW, Ho CP, Trenhaile SW, Abrams JS. Two-year outcomes with a bioinductive collagen implant used in augmentation of arthroscopic repair of full-thickness rotator cuff tears: Final results of a prospective multi-center study. J Shoulder Elbow Surg. 2022 Jul 1:S1058 2746. 15 Micheloni GM, Salmaso G, Zecchinato G, Giaretta S, Barison E, Momoli A.
Internal Report WRP-TE045-700-08. 12 Smith+Nephew 2016. Healicoil Regenesorb Suture Anchor a study to assess implant replacement by bone over a 2 year period. NCS248. 13 McIntyre LF, McMillan S, Trenhaile SW, Bishai SK, Bushnell BD. Full-Thickness Rotator Cuff Tears Can Be Safely Treated With Resorbable Bioinductive Bovine Collagen Implant: One-Year Results of a Prospective, Multicenter Registry.
Technical Report, HEALICOIL Implant Volume Comparison. Internal Report. 15010823 Rev A 10 Vonhoegen J, John D, H germann C. Osteoconductive resorption characteristics of a novel biocomposite suture anchor material in rotator cuff repair. Orthop Traumatol Surg Res. 2019;14(1):12. 11 Smith+Nephew 2010. Micro-CT and histological evaluation of specimens from resorbable screw study (RS-II/OM1-08) 24-month post-implantation.
The results of a randomized controlled trial in 124 subjects. ISAKOS 2023. 8 Chahla J, Liu JN, Manderle B, et al. Bony ingrowth of coil-type open-architecture anchors compared with screw-type PEEK anchors for the medial row in rotator cuff repair: a randomized controlled trial. Arthroscopy. 2019 Dec 3. 2020;36(4):952 961. Epub ahead of print 9 Smith+Nephew 2021.
Muscles Ligaments Tendons J. 2013;3(3):229 235. 6 McElvany MD, McGoldrick E, Gee AO, Neradilek MB, Matsen FA, 3rd. Rotator cuff repair: published evidence on factors associated with repair integrity and clinical outcome. Am J Sports Med. 2015;43(2):491 500. 7 Ruiz Iban MA et al. The effect on healing rate of the addition of a bioinductive implant to a rotator cuff repair.
J Shoulder Elbow Surg. 2018 27(2):242 251. 4 Bokor DJ, Sonnabend DH, Deady L, et al. Healing of partial-thickness rotator cuff tears following arthroscopic augmentation with a highly porous collagen implant: a 5-year clinical and MRI follow-up. Muscles, Ligaments Tendons J. 2019;9(3):338 347. 5 Van Kampen C, Arnoczky S, Parks P, et al. Tissue-engineered augmentation of a rotator cuff tendon using a reconstituted collagen scaffold: a histological evaluation in sheep.
Muscles, Ligaments Tendons J 2016;6(1):16 25. 2 Arnoczky SP, Bishai SK, Schofield B, Sigman S, Bushnell BD, Hommen JP, Van Kampen C. Histologic Evaluation of Biopsy Specimens Obtained 3 Schlegel TF, Abrams JS, Bushnell BD, Brock JL, Ho CP. Radiologic and clinical evaluation of a bioabsorbable collagen implant to treat partial-thickness tears: a prospective multicenter study.
Int Wound J. 2018;15(3):1 8. 6 Smith+Nephew 2018.Pressure Redistribution Testing of ALLEVYN Life vs Mepilex Border and Optifoam Gentle SA. Internal Report. DS/18/351/R45. References from Sports Medicine & ENT (pages 38 41) 1 Bokor DJ, Sonnabend D, Deady L, et al. Evidence of healing of partial-thickness rotator cuff tears following arthroscopic augmentation with a collagen implant: a 2-year MRI follow-up.
Poster presented at: Patient Handling and Mobility Annual Conference; March 5 March 7, 2019; Orlando, Florida, USA. 5 Forni C, D'alessandro F, Gallerani P, et al. Effectiveness of using a new polyurethane foam multi-layer dressing in the sacral area to prevent the onset of pressure ulcer in the elderly with hip fractures: A pragmatic randomised controlled trial.
Effect of a wearable patient sensor on care delivery for preventing pressure injuries in acutely ill adults: A pragmatic randomized clinical trial (LS-HAPI study). Int J Nurs Stud. 2018;80:12 19. 4 Klaeb M, Krafft K, Walters B, Lowe J, Cooley A. The Influence of Wearable Technology on Nursing Attitudes and Adherence to Patient Turning and Repositioning.
January 2019 update. AHRQ National Scorecard on Hospital-Acquired Conditions Updated Baseline Rates and Preliminary Results 2014 2017. 2 Schutt SC, Tarver C, Pezzani M. Pilot study: Assessing the effect of continual position monitoring technology on compliance with patient turning protocols. Nurs Open. 2017;5(1):21 28. 3 Pickham D, Berte N, Pihulic M, Valdez A, Mayer B, Desai M.
REGENETEN Bone Anchors are only indicated for use in rotator cuff repair. Published clinical outcomes are for rotator cuff. The REGENETEN Implant is currently approved for use in treating Gluteus Medius and Achilles tears only in the US. *** As demonstrated ex vivo **** Demonstrated clinically and in vivo ***** As compared to mechanical debridement for knee chondroplasty; n=60; p<0.001 References from Advanced Wound Management (pages 42 45) 1 National Scorecard on Hospital-Acquired Conditions, Agency for Healthcare Research and Quality (AHRQ).
Laryngoscope. 2020;130:S1 S9, 2020. 42 IFU007011, available at www.tulatubes.com/IFU 43 Adam J. Singer, MD Michelle Blanda, MD, Kerry Cronin, MD, et al. Comparison of Nasal Tampons for the Treatment of Epistaxis in the Emergency Department: A Randomized Controlled Trial. The American College of Emergency Physicians. Volume 45, no. 2 : February 2005. doi:10.1016/j. annemergmed. 2004.10.002 * Compared to predicate device. ** The REGENETEN Implant is cleared for use on any tendon where there is not substantial loss of tendon tissue.
Intracapsular Tonsillectomy Using Plasma Ablation Versus Total Tonsillectomy: A Systematic Literature Review and Meta-Analysis. OTO open. 2023;7(1):e22. 40 Smith+Nephew 2023.ARIS Targeted Hemostasis. Internal Memo. 10094398 Rev A. 41 Lustig LR, Ingram A, Vidrine M, et. al. In-Office Tympanostomy Tube Placement in Children Using Iontophoresis and Automated Tube Delivery.
PROcise XP Comparative Thermal Measurement Bench-Top Study. Internal Report. P/N 60736 01 Rev. A. 38 Magdy EA, Elwany S, El-Daly AS, Abdel-Hadi M, Morshedy MA. Coblation tonsillectomy: A prospective, double-blind, randomised, clinical and histopathological comparison with dissection-ligation, monopolar electrocautery and laser tonsillectomies. J Laryngol Otol. 2008;122:282 290. 39 Sedgwick MJ, Saunders C, Bateman N.
Postoperative morbidity and histopathologic characteristics of tonsillar tissue following coblation tonsillectomy in children: A prospective randomized single-blind study. Coll Antropol. 2009;33:293 298. 36 Smith+Nephew 2010. PROCISE LW & MLW, Thermal Measurement and Comparison to CO2 and KTP Laser Systems. Internal Report. P/N 86257 Rev. A. 37 Smith+Nephew 2010.
Compared to conventional techniques. Compared to the NAVIO Surgical System and previous software versions. 29% faster resection demonstrated in total knee cadaver studies 2005 ASM International Engineering Materials Achievement Award References from business unit sections 262 Smith+Nephew Annual Report 2023 35 Roje Z, Racic G, Dogas Z, Pesuti Pisac V, Timms M.
Cost savings estimated based on single surgeon, single center experience and may not be representative. Savings based on surgical tray sterilisation cost reductions and decreased OR Time. Average sterilization cost of $58.18 per tray, with a reduction from 13 to 4 trays per case. OR time decreased by average 25 minutes/case, with OR time estimated to cost $40/minute.
The views expressed represent those of the authors and do not necessarily reflect those of the National Joint Registry Steering Committee or the Health Quality Improvement Partnership (HQIP) who do not vouch for how the information is presented. *** Compared to NAVIO Handheld Robotics **** Compared to Mako and ROSA ***** With use of handpiece All data from US-based CORI system surgeons (rTKa, n=8).
Total shoulder arthroplasty: are the humeral components getting shorter? Curr Rev Musculoskelet Med. 2016;9(1):17 22. 39 SmartTrak Report, 2023. Accessed 1 December 2023. * Based on BSC evidence ** We thank the patients and staff of all the hospitals in England, Wales and Northern Ireland who have contributed data to the National Joint Registry. We are grateful to the Healthcare Quality Improvement Partnership (HQIP), the NJR Steering Committee and staff at the NJR Centre for facilitating this work.
Reverse shoulder arthroplasty: Does reduced medialisation improve radiological and clinical results? Acta Orthopaedica Belgica. 2009;75(2):158 166. 37 L dermann A, Tay E, Collin P, et al. Effect of critical shoulder angle, glenoid lateralization, and humeral inclination on range of movement in reverse shoulder arthroplasty. Bone Joint Res. 2019;8(8):378 386. 38 Harmer L, Throckmorton T, Sperling JW.
ER-04-0990-0017. 35 Arenas-Miquelez A, Murphy R, Rosa A, Caironi D, Zumstein M. Impact of humeral and glenoid component variations on range of motion in reverse geometry total shoulder arthroplasty. A standardised computer model study. (8214). Swiss Medical Weekly. 2020;150(SUPPL 244):2S. 36 Kalouche I, Sevivas N, Wahegaonker A, Sauzieres P, Katz D, Valenti P.
J Knee Surg. 2017;30(7):725 729. 32 Noble PC, Gordon MJ, Weiss JM, Reddix RN, Conditt MA, Mathis KB. Does total knee replacement restore normal knee function? Clin Orthop Relat Res. 2005(431):157 165. 33 The Orthopaedic Data Evaluation Panel (ODEP). www.odep.org.uk. Accessed 1 December 2023. 34 Smith+Nephew 2023. AETOS Inlay Design Features. Internal Report.
Hospital related clinical and economic outcomes of a bicruciate knee system in total knee arthroplasty patients. Poster presented at: ISPOR Symposium; May 19 23, 2018; Baltimore, Maryland, USA. 31 Takubo A, Ryu K, Iriuchishima T, Tokuhashi Y. Comparison of muscle recovery following bicruciate substituting versus posterior stabilized total knee arthroplasty in an Asian population.
Surgical tray and instrumentation data collection for conventional and robotic knee surgeries. Clinical Activity Report. 29 Seyler MT. Revision total knee arthroplasty with an imageless, 2nd generation robot system. Podium Presentation at: 2023 Members Meeting of The Knee Society; September 7 9, 2023; Monterey, California, US. 30 Mayman DJ, Patel AR, Carroll KM.
J Arthroplasty. 2015;30(6):964 967 24 Smith+Nephew 2022. Optimus TKA Tensioner Gap Assessment Verification Report. Internal Report. 10059269. 25 Smith+Nephew 2021. Tensioner Design Verification Test Report. Internal Report. TR100123 26 Smith+Nephew 2022. Tensioner KPC: Tensioner Calibration Check. Internal Report. TR100116, Rev.B 27 Smith+Nephew 2023. 37753 V2 CORI Digital Tensioner Evidence in focus White paper 0923. 28 Smith+Nephew 2023.
Rate of learning curve and alignment accuracy of an image-free handheld robot for total Knee Arthroplasty. European Knee Society Arthroplasty Conference;2019; Valencia, Spain. 23 Ponzio DY, Lonner JH. Preoperative Mapping in Unicompartmental Knee Arthroplasty Using Computed Tomography Scans Is Associated with Radiation Exposure and Carries High Cost.
Poster presented at: 19th Annual Meeting of the International Society for Computer Assisted Orthopaedic Surgery 2019; New York, USA. 21 Kopjar B, Schwarzkopf R, Chow J, et al. NAVIO Robotic Assisted Surgical System for Total Knee Arthroplasty Using JOURNEY II Guided-Motion Total Knee System. Poster presented at: ISTA 2 5 October, 2019; Toronto, Canada. 22 Geller JA, Rossington A, Mitra R, Jaramaz B, Khare R, Netravali NA.
Internal Report. EO.REC.PCS015.002.v1. 19 Gregori A, Picard F, Bellemans J, Smith JR, Simone A. Handheld Precision Sculpting Tool for Unicondylar Knee Arthroplasty. A Clinical Review. Poster presented at: 15th EFORT Congress; 4 6 June, 2014; London, UK. 20 Bollars P, Boeckxstaens A, Mievis J, Janssen D. The Learning Curve and Alignment Assessment of an Image-Free Handheld Robot in TKA: The First Patient Series in Europe.
Bearing surface and survival of cementless and hybrid total hip arthroplasty in the National Joint Registry of England, Wales, Northern Ireland and the Isle of Man. JBJS OA. 2020;5:e0075. 17 Smith+Nephew 2020. NAVIO Technical Specification Comparison. March 2020. Internal Report ER0488 REVB. 18 Smith+Nephew 2020. Comparison of operating room footprint for robotic-assisted knee arthroplasty systems.
The effect of bearing type on the outcome of total hip arthroplasty. Acta Orthop. 2018:89;163 169. 15 Atrey A, Ancarani C, Fitch D, Bordini B. Impact of bearing couple on long-term component survivorship for primary cementless total hip replacement in a large arthroplasty registry. Poster presented at: Canadian Orthopedic Association; June 20 23, 2018; Victoria, British Columbia, Canada. 16 Davis ET, Pagkalos J, Kopjar B.
Poster presented at: 2011 Annual Meeting of the Orthopaedic Research Society. Poster no. 1141. 12 National Joint Registry for England, Wales, Northern Ireland and the Isle of Man: 20th Annual Report. 2023. 13 Australian Orthopaedic Association National Joint Replacement Registry (AOANJRR). Hip, Knee & Shoulder Arthroplasty: 2022 Annual Report. Adelaide: AOA, 2022. 14 Peters RM, Van Steenbergen LN, Stevens M, Rijk PC, Bulstra SK, Zijlstra WP.
J Arthroplasty. 2021;36:1445 1454. 10 Parikh A, Hill P, Pawar V, Sprague J. Long-term Simulator Wear Performance of an Advanced Bearing Technology for THA. Poster presented at: 2013 Annual Meeting of the Orthopaedic Research Society. Poster no. 1028 11 Papannagari R, Hines G, Sprague J, Morrison M. Long-term wear performance of an advanced bearing technology for TKA.
J Arthroplasty. 2018;33(2):565 571. 8 Murakami K, Hamai S, Okazaki K, et al. In vivo kinematics of gait in posterior-stabilized and bicruciate-stabilized total knee arthroplasties using image-matching techniques. Int Orthop. 2018;42(11):2573 2581. 9 Smith LA, Nachtrab J, LaCour M, et al. In Vivo Knee Kinematics: How Important Are the Roles of Femoral Geometry and the Cruciate Ligaments?
The use of cementless components does not significantly increase procedural costs in total knee arthroplasty. J Arthroplasty. 2020;35:407 712. 6 Nodzo SR, Carroll KM, Mayman DJ. The Bicruciate Substituting Knee Design and Initial Experience. Techniques in Orthopaedics. 2018;33(1):37 41 7 Grieco TF, Sharma A, Dessinger GM, Cates HE, Komistek RD. In Vivo Kinematic Comparison of a Bicruciate Stabilized Total Knee Arthroplasty and the Normal Knee Using Fluoroscopy.
A Comparison of Rollback Ratio between Bicruciate Substituting Total Knee Arthroplasty and Oxford Unicompartmental Knee Arthroplasty. J Knee Surg. 2018;31(6):568 572. 4 Murakami K, Hamai S, Okazaki K, et al. Knee kinematics in bi-cruciate stabilized total knee arthroplasty during squatting and stair climbing activities. J Orthop. 2018;15(2):650 654. 5 Yayac M, Harrer S, Hozack WJ, Parvizi J, Courtney M.
Evidence Outcomes Report EO.TRA. PCS001.v1. 2021. 2 Quartley M, Chloros G, Papakostidis K, Saunders C, Giannoudis PV. Stabilisation of AO OTA 31-A unstable proximal femoral fractures: Does the choice of intramedullary nail affect the incidence of post-operative complications? A systematic literature review and meta-analysis. Injury. 2022;53(3):827 840 3 Iriuchishima T, Ryu K.
Increasing age and tear size reduce rotator cuff repair healing rate at 1 year. Acta Orthop. 2017;88:606 611. 10 Data from a recent study, Mitchell RB et. al. Clinical practice guideline: Tonsillectomy in children (Update). Otolaryngology Head and Neck Surgery. 2019;160(1 Suppl):S1 S42. 11 National Healthcare Safety Network report on surgical site infections, January 2023 12 SmartTrak Report, 2023 * Compared to non-JOURNEY II knees; Based on BCS evidence ** Based on BSC evidence References from Orthopaedics (pages 34 37) 1 Smith+Nephew.
J Knee Surg. 2017;30(7):725 729. 7 Noble PC, Gordon MJ, Weiss JM, Reddix RN, Conditt MA, Mathis KB. Does total knee replacement restore normal knee function? Clin Orthop Relat Res. 2005(431):157 165 8 Collins M, Lavigne M, Girard J, Vendittoli PA. Joint perception after hip or knee replacement surgery. Orthop Traumatol Surg Res.2012;98:275 280. 9 Rashid MS, Cooper C, Cook J, et al.
Hospital related clinical and economic outcomes of a bicruciate knee system in total knee arthroplasty patients. Poster presented at: ISPOR Symposium; May 19 23, 2018; Baltimore, Maryland, USA. 6 Takubo A, Ryu K, Iriuchishima T, Tokuhashi Y. Comparison of muscle recovery following bicruciate substituting versus posterior stabilized total knee arthroplasty in an Asian population.
The Bicruciate Substituting Knee Design and Initial Experience. Techniques in Orthopaedics. 2018;33(1):37 41 4 Murakami K, Hamai S, Okazaki K, et al. In vivo kinematics of gait in posterior-stabilized and bicruciate-stabilized total knee arthroplasties using image-matching techniques. Int Orthop. 2018;42(11):2573 2581. 5 Mayman DJ, Patel AR, Carroll KM.
A Comparison of Rollback Ratio between Bicruciate Substituting Total Knee Arthroplasty and Oxford Unicompartmental Knee Arthroplasty. J Knee Surg. 2018;31(6):568 572. 2 Murakami K, Hamai S, Okazaki K, et al. Knee kinematics in bi-cruciate stabilized total knee arthroplasty during squatting and stair climbing activities. J Orthop. 2018;15(2):650 654. 3 Nodzo SR, Carroll KM, Mayman DJ.
Unless the context indicates otherwise, the following terms have the meanings shown below: Glossary 260 Smith+Nephew Annual Report 2023 Accounting policies 176 226 Accounts presentation 255 Acquisitions 9, 10, 17 19, 20 23, 29, 42, 65, 69, 75, 82, 87, 98, 224 226, 246 248 Acquisition and disposal related items 18, 182, 190, 246 248 American Depositary Shares 249 Articles of Association 253 255 Audit fees 117, 185 Board 90 93 Business overview 2 3, 235 Business segment information 34 45, 179 183 Cash and borrowings 202 204 Chair's statement 4 7 Chief Executive Officer's review 8 11 Company balance sheet 227 Company notes to the accounts 229 234 Contingencies 211 213, 231 Critical judgements and estimates 177 178 Cross-reference to Form 20-F 257 Currency fluctuations 242 243 Currency translation 178 179 Deferred taxation 188 189 Directors' Remuneration Report 121 154 Directors' responsibility statement 156 Dividends 21, 222 Earnings per share 21, 172, 189 190 Employee share plans 226 Executive team 94 95 Factors affecting results of operations 243 Financial instruments 205 211 Financial review 20 23 Free cash flow 247 Glossary of terms 260 Goodwill 193 195 Group balance sheet 173 Group cash flow statement 174 Group companies 231 234 Group history 235 Group income statement 172 Group notes to the accounts 176 226 Group overview 2 3, 235 Group statement of changes in equity 175 Group statement of comprehensive income 172 Independent auditor's report 157 171 Intangible assets 195 197 Intellectual property disputes 213 Interest and other finance costs 185 Inventories 199 Investments 197 Investment in associates 197 198 Key Performance Indicators 18 19 Legal and other 183, 247 Legal proceedings 212 213 Leverage ratio 247 Liquidity and capital resources 22, 203 Manufacturing and quality 32 33 Medical education 2, 7, 30 31 Net debt 202 New accounting standards 176 Operating profit 183 184 Other finance costs 185 Our approach to stakeholders 82, 82 87 Our global markets 35, 39, 43 Outlook and trend information 7, 23, 237 241 People/Employees 54 Post balance sheet events 226 Provisions 212 213 Property, plant and equipment 191 192 Regulation 15, 33, 53, 70 Related party transactions 226, 235 Research & development 75 Restructuring and rationalisation expenses 182, 246 247 Retirement benefit obligations 214 220 Return on invested capital (ROIC) 18, 248 Risk factors 237 243 Risk report 67 78 SASB reporting 258 259 Share-based payments 226 Share capital 221 Shareholder information 248 256 Staff costs and employee numbers 185 Stakeholder statement 82 87 Statement of compliance 88 Strategy for Growth 8 11 Sustainability 52 66 Taxation 186 189 Taxation information for shareholders 251 253 TCFD reporting 60 64 Total shareholder return 152 Trade and other payables 201 Trade and other receivables 200 201 Treasury shares 221 222 Index Smith+Nephew Annual Report 2023 261 STRATEGIC REPORT GOVERNANCE ACCOUNTS OTHER INFORMATION References from Innovation (pages 26 33) 1 Iriuchishima T, Ryu K.
UK United Kingdom of Great Britain and Northern Ireland. Underlying growth Growth after adjusting for the effects of currency translation and the inclusion of the comparative impact of acquisitions and exclusion of disposals. US United States of America. US Dollars, $, or cents or References to US currency. 1 cent is equivalent to one hundredth of US$1.
The adjustments made exclude the impact of specific transactions that management considers affect the Group's short-term profitability and cash flows, and comparability of results. Refer to page 245 for further information. Trauma & Extremities A product group which includes internal and external devices used in the stabilisation of severe fractures and deformity correction procedures.
SEC US Securities and Exchange Commission. Sports Medicine Joint Repair Sports Medicine Joint Repair includes instruments, technologies and implants necessary to perform minimally invasive surgery of joints. Trading results Trading profit, trading profit margin (trading profit expressed as a percentage of revenue), trading cash flow and trading profit to trading cash conversion ratio (trading cash flow expressed as a percentage of trading profit) are trend measures, which present the profitability of the Group.
Management believes that OXINIUM material used in the production of components of knee and hip implants exhibits unique performance characteristics due to its hardness, low-friction and resistance to roughening and abrasion. Parent Company Smith & Nephew plc. Pound Sterling, Sterling, , pence or p References to UK currency. 1p is equivalent to one hundredth of 1.
Other Reconstruction A product group which includes robotics-assisted surgery, bone cement and accessory products. OXINIUM OXINIUM material is an advanced load bearing technology. It is created through a proprietary manufacturing process that enables zirconium to absorb oxygen and transform to a ceramic on the surface, resulting in a material that incorporates the features of ceramic and metal.
NHS The UK National Health Service. NYSE New York Stock Exchange. Orthopaedic products Orthopaedic reconstruction products include joint replacement systems for knees, hips and shoulders and support products such as computer-assisted surgery and minimally invasive surgery techniques. Orthopaedic trauma devices are used in the treatment of bone fractures including rods, pins, screws, plates and external frames.
Knee implants A product group which includes an innovative range of products for specialised knee replacement procedures. LSE London Stock Exchange. MDR Medical Device Regulation. MHRA The Medicines and Healthcare products Regulatory Agency in the UK. Negative Pressure Wound Therapy (NPNT) A technology used to treat chronic wounds such as diabetic ulcers, pressure sores and post-operative wounds through the application of sub-atmospheric pressure to an open wound.
Health economics A branch of economics concerned with issues related to efficiency, effectiveness, value and behaviour in the production and consumption of health and healthcare. Hip Implants A product group which includes specialist products for reconstruction of the hip joint. IFC Inside Front Cover. IBC Inside Back Cover. Term Meaning IFRS International Financial Reporting Standards issued by the International Accounting Standards Board.
Euro or References to the common currency used in the majority of the countries of the European Union. FDA US Food and Drug Administration. Financial statements Refers to the consolidated Group Accounts of Smith & Nephew plc. FTSE 100 Index of the largest 100 listed companies on the London Stock Exchange by market capitalisation. Group or Smith+Nephew Used for convenience to refer to the Company and its consolidated subsidiaries, unless the context otherwise requires.
Emerging Markets Emerging Markets include Latin America, Asia (excluding Japan), Middle East, Africa and Russia. EPSA Adjusted earnings per ordinary share as defined on page 246. Endoscopy Through a small incision, surgeons are able to see inside the body using a monitor and identify and repair defects. ENT Ear, Nose and Throat. Established Markets Established Markets are United States of America, Europe, Australia, New Zealand, Canada and Japan.
ASC Ambulatory Surgery Center. Basis Point One hundredth of one percentage point. Chronic wounds Chronic wounds are those with long or unknown healing times including leg ulcers, pressure sores and diabetic foot ulcers. Company Smith & Nephew plc or, where appropriate, the Company's Board of Directors, unless the context otherwise requires. Companies Act Companies Act 2006, as amended, of England and Wales.
Advanced Wound Devices (AWD) A product group which includes traditional and single-use Negative Pressure Wound Therapy, a patient monitoring system for pressure injury prevention and patient mobility monitoring, and hydrosurgery systems. AGM Annual General Meeting of the Company. Arthroscopy Endoscopy of the joints is termed arthroscopy', with the principal applications including the knee and shoulder.
Advanced Wound Bioactives (AWB) A product group which includes biologics and other bioactive technologies that provide unique approaches to debridement and dermal repair/regeneration, and regenerative medicine products including skin, bone graft and articular cartilage substitutes. Advanced Wound Care (AWC) A product group which includes products for the treatment and prevention of acute and chronic wounds, including leg, diabetic and pressure ulcers, burns and post-operative wounds.
ADS In the US, the Company's ordinary shares are traded in the form of American Depositary Shares (ADSs). Arthroscopic Enabling Technologies (AET) A product group which includes a variety of technologies such as fluid management equipment for surgical access, high definition cameras, digital image capture, scopes, light sources and monitors to assist with visualisation inside the joints, radio frequency, electromechanical and mechanical tissue resection devices, and hand instruments for removing damaged tissue.
Not reported. HC-MS-000.A You can learn more about our sustainability targets and strategy in our 2023 Sustainability Report at www.smith-nephew.com/sustainability Smith+Nephew Annual Report 2023 259 STRATEGIC REPORT GOVERNANCE ACCOUNTS OTHER INFORMATION Term Meaning ADR In the US, the Company's ordinary shares are traded in the form of American Depositary Shares evidenced by American Depositary Receipts (ADRs).
HC-MS-510a.1 Description of code of ethics governing interactions with healthcare professionals. See our website (www.smith-nephew.com) for our Code of Conduct and Business Principles, our Anti-Bribery Policy, our Annual Report, and also the Acting with Integrity section of our Sustainability Report for additional information. HC-MS-510a.2 Activity metric Number of units sold by product category.
See our Risk Report on page 67 and our Conflict Minerals Disclosure Report on our website (www.smith-nephew.com) for additional information. HC-MS-430a.3 Business ethics Total amount of monetary losses as a result of legal proceedings associated with bribery or corruption. In 2023, Smith+Nephew did not have monetary losses due to legal proceedings associated with bribery or corruption.
All Smith+Nephew products are labelled with either Unique Device Identifiers or HIBC barcodes to maintain traceability. HC-MS-430a.2 Description of the management of risks associated with the use of critical materials. Supply chain risks are captured within Smith+Nephew's Enterprise Risk Management process and Global Supply Chain is identified as one of our Principal Risks.
All Smith+Nephew direct manufacturing locations participate in the Medical Device Single Audit Program (MDSAP). All Smith+Nephew direct and third-party manufacturing locations are certified to ISO13485. Additionally, all Tier 1 material suppliers are compliant with ISO13485. HC-MS-430a.1 Description of efforts to maintain traceability within the distribution chain.
Smith+Nephew does not measure the amount of products reused or recycled for our business purposes. See the People section of our Sustainability Report for information on product donations. HC-MS-410a.2 Supply chain management Percentage of (1) entity's facilities and (2) Tier 1 suppliers' facilities participating in third-party audit programmes for manufacturing and product quality.
Additionally, regulatory changes regarding chemicals in products are tracked and actioned, as appropriate. See our Sustainability Report for more information. HC-MS-410a.1 Total amount of products accepted for takeback and reused, recycled, or donated, broken down by: (1) devices and equipment and (2) supplies. Smith+Nephew operates takeback schemes where required by law.
HC-MS-270a.2 SASB reporting 258 Smith+Nephew Annual Report 2023 Topic Metric 2023 Reporting Code Product design and lifecycle management Discussion of process to assess and manage environmental and human health considerations associated with chemicals in products, and meet demand for sustainable products. Sustainability reviews are incorporated in New Product Development phase reviews for new products and acquisitions.
HC-MS-250a.4 Ethical marketing Description of code of ethics governing promotion of off-label use of products. See the Product Promotion and Scientific Disclosures section of our Code of Conduct and Business Principles (http://www.smith-nephew.com/ compliance) and the Acting with Integrity section of our Sustainability Report for additional information.