Smith & Nephew reported strong full-year 2025 results, with revenue of $6.2 billion representing 5.3% underlying growth and 6.1% reported growth. Fourth-quarter revenue reached $1.7 billion, growing 6.2% on an underlying basis. The medical device company achieved 160 basis points of margin expansion, with trading profit of $1.2 billion and adjusted earnings per share of $1.02, up 21%. Free cash flow increased 52.5% year-on-year to $840 million, enabling completion of a $500 million share buyback programme. Innovation drove over 60% of growth, with products launched in the past five years delivering double-digit growth across all business units. For 2026, the company expects 6% organic revenue growth and 8% trading profit growth to around $1.3 billion, though it faces headwinds from Chinese pricing reforms and US reimbursement changes.

Smith+Nephew has signed an exclusive US distribution agreement with RMR Ortho to add the A'TOMIC Nitinol Fixation System to its Trauma, Foot & Ankle and Hand & Wrist portfolio. The partnership enables Smith+Nephew to expand its participation in high-frequency fracture and arthrodesis procedures whilst utilising its existing Extremities and Trauma sales channel. The dynamic compression fixation solution complements the company's current technologies. Scott Gunn, Vice President of US Marketing at Smith+Nephew, said the collaboration reflects the company's disciplined approach to portfolio expansion and continued focus on driving sustainable growth.