Acquisition

Smith & Nephew Plc
23 January 2004


                         SMITH & NEPHEW ACQUIRES WOUND
                         DEBRIDER FROM HYDROCISION INC

23 January 2004

London, England and Andover, Massachusetts, January 23, 2004 - Smith & Nephew
plc (LSE:SN, NYSE:SNN) today announced that its Advanced Wound Management
business has acquired the VERSAJET surgical debridement product from HydroCision
Inc to add to its growing range of advanced wound bed preparation products.

VERSAJET is a specialised fluid jet instrument enabling surgeons to easily
remove damaged tissue and contaminants from surgical, traumatic and chronic
wounds in a precise and safe manner.  Approved for use in the United States,
Canada and the European Union, VERSAJET was launched in 2003.

Smith & Nephew will acquire the VERSAJET product line for $5m, with additional
consideration payable upon reaching future development and sales milestones.
Smith & Nephew expects 2004 sales of the product to reach $2-3m.

'VERSAJET is an outstanding new technology that enables the clinician to
remove contamination and dead or decaying tissue when preparing wounds for
closure or healing,' said Jim Dick, President of the Advanced Wound
Management business of Smith & Nephew. 'VERSAJET is easy to use and will
strengthen our position in the rapidly growing wound bed preparation market.'

Doug Daniels, President and CEO of HydroCision, added: 'We are pleased that
Smith & Nephew has recognised the potential value of the fluid jet technology in
the field of wound care. As a leader in the advanced wound management field,
Smith & Nephew is well positioned to use the fluid jet technology to help
improve patient outcomes worldwide.'


About Smith & Nephew

Smith & Nephew (www.smith-nephew.com) is one of the world's leading medical
device companies, specialising in Orthopaedics, Endoscopy and Advanced Wound
Management products.  Smith & Nephew ranks as the global leader in advanced
wound management and arthroscopy products and is the fastest growing full-line
orthopaedics company in the world.

Smith & Nephew's Advanced Wound Management business provides the leading range
of treatments for difficult to heal wounds.  It develops innovative new
solutions to heal chronic and acute wounds, delivering excellent and cost
effective outcomes. The company has the world's leading advanced wound
management sales force and provides clinicians with a full range of education
programmes.


About HydroCision Inc.

Andover, Massachusetts, based HydroCision is the leading developer, manufacturer
and marketer of fluid jet-based surgical tools that are the foundation of a new
surgical modality - 'hydrosurgery'.  Hydrosurgery improves patient care by
selectively removing tissue, minimizing collateral damage and bleeding and
promoting the healing process.  More information on the company is available at
www.hydrocision.com.



Enquiries:


Smith & Nephew
Healthcare Media
Jim Dick                                                   [phone] (UK)
Smith & Nephew Wound Management

Smith & Nephew
Financial Media and Investors
Angie Craig                                                [phone] (UK)
Smith & Nephew Corporate Affairs Director                  [phone] (US)

HydroCision Inc
Doug Daniels                                               [phone] (US)
President and CEO





                      This information is provided by RNS
            The company news service from the London Stock Exchange