FORT WORTH, Texas, Sept. 25, 2013 /PRNewswire/ -- Healthpoint Biotherapeutics today announced it will assume the Smith & Nephew (LSE: SN, NYSE: SNN) corporate identity as part of its ongoing integration into the global medical technology business. Smith & Nephew acquired Healthpoint Biotherapeutics in December 2012. "Assuming the Smith & Nephew name reflects the evolution of our organization as a biotherapeutic leader now operating within a multinational organization," said Rob Bancroft, President of Smith & Nephew Biotherapeutics. "As well as continuing to market our existing products such as SANTYL*, we will retain our focus on the development and commercialization of novel, cost-effective biopharmaceuticals for dermal repair and regeneration." Bioactives are the fastest growing area of wound care, illustrating how greater understanding of wound biology is driving the development of new biopharmaceuticals designed to stimulate the body's own regenerative processes. Smith & Nephew Biotherapeutics' diversified product portfolio currently serves large and growing markets that continue to expand, given current demographic and epidemiological trends. The business is well positioned to benefit from this market growth with its specialized sales force, strong performance of best-in-class products, award winning educational resources and future prospects borne of a strategically directed pipeline. About Chronic Wounds Most wounds proceed toward healing in a timely, organized manner; however, for many wounds the healing process is slowed, less well organized and may even come to a halt altogether, leading to a chronic wound. Chronic wounds are often derivative of another illness or condition such as diabetes, obesity, peripheral vascular disease and immobility. These wounds–including diabetic, venous, arterial and pressure ulcers–are considered inherently difficult-to-heal and at risk of becoming chronic due to the underlying disease state or condition of the individual interfering with the normal healing process. Millions of people currently suffer from these types of wounds, and many more are likely to be affected in the future as the prevalence of the implicated underlying disease states and conditions continues to rise. An estimated $5-7 billion is spent each year on the treatment of chronic wounds in the United States alone, and these costs are increasing at annual rate of 7-10%. Despite these expenditures and clinical efforts, many of these wounds fail to heal in a timely manner, increasing the risk of many undesirable consequences and complications such as local infection (including cellulitis and abscesses), bacteremia and sepsis, pain, osteomyelitis, dermatitis, possible malignancy, amputation and even death. The longer it takes for a wound to heal, the greater the likelihood of complications. The factors that cause wounds to fail to heal are still the subject on ongoing research. However, the science is evolving rapidly and suggests new bioactive technologies will be the next stage of innovation in turning the sometimes elusive process of healing into a dependable reality.