This was posted on the yahoo group. The CEO is stepping down in April and the new CEO is coming from pharma. Also mentions Biomet and J&J are offering to buy them out.
http://www.healthpointcapital.com/research/2011/02/11/smith_nephews_ceo_to_retire_in_april/?utm_source=email&utm_medium=htmlemail2&utm_campaign=weekly

I read that S&N has been around since 1856? pre 1900 or something.  That's a long time.  That would be a bummer if a company like that got bought out.   You just don't see longeveity like that, which is exactly what you want in the medical industry.