Smith+Nephew has launched a new strategy, RISE, which aims to deliver new levels of financial and operational performance to drive shareholder value.

The strategy follows the medical equipment manufacturer’s 12-point plan which launched in 2022. The firm said that the plan transformed it into a "stronger, more agile and higher growth" company.

RISE comprises of four elements; increasing its ‘reach’ to patients through a differentiated portfolio; ‘innovate’ to enhance its standard of care through new product launches; ‘scale’ through strategic investment; and ‘execute’ efficiently by driving enterprise productivity.

It comes as the firm outlined its 2028 financial targets, which included a 6% to 7% underlying revenue compound annual growth rate (CAGR), which is significantly above Smith+Nephew’s historical average.

Furthermore, it expects its trading profit CAGR to increase by between 9% and 10% in this period, with more than $1bn in free cash flow in 2028.

Smith+Nephew is still set to meet its 2025 full year target, with another year of "strong revenue growth". Its 2026 revenue growth is expected to accelerate to around 6%.

Chief executive officer at Smith+Nephew, Deepak Nath, said the new RISE strategy represents an "ambitious but achievable new chapter".

He concluded: "Our actions under the 12-point plan have created a fundamentally stronger business than three years ago and a springboard for future growth. RISE is our roadmap to reach more patients, deliver new categories of innovation, and further accelerate our financial performance.

"Over the next three years, every business unit will contribute uniquely to our value creation. Sports Medicine, Advanced Wound Management and ENT will drive above-market growth through innovation and disciplined execution, while Orthopaedics, operating in a more mature segment, will return to delivering market-level growth, supporting margin expansion, and enhanced returns.

"We are confident that RISE will solidify Smith+Nephew's leadership in healthcare innovation and deliver significant value for our shareholders, customers, employees and communities."

---