Press Release: 01. July 2010

Smith & Nephew Signs Business Process Outsourcing Agreement with HP to Drive Finance Transformation

LONDON, U.K., July 1, 2010 – HP Enterprise Services today announced that Smith & Nephew has signed a 7-year Finance & Administration business process outsourcing (BPO) services agreement that will support the finance transformation in one of the leading healthcare companies in Europe by improving productivity, enhancing quality and providing increased operating flexibility.

With this agreement, HP will provide multi-nationalfinance and administration servicesto Smith & Nephew’s operations in Europe, enabling continued business expansion and increased focus on core activities.

“As part of our global transformation programme, we intend to streamline our processes while optimising the costs of operations to deliver a more effective service to our customers, suppliers and employees,” said David Trollope, senior vice president, Global Financial Systems for Smith & Nephew. “HP brings a strong track record in managing global finance and administrative processes with a collaborative style that suits our way of working.”

HP will provide BPO services from the HPBest Shoredelivery centers in Poland and India. This Best Shore model will use automated and standardised processes to provide Smith & Nephew with flexible and rapidly scalable service delivery.

“Today’s competitive environment means finance functions need to focus more on providing high quality management information to their businesses rather than driving day to day finance processes,” said Danila Meirlaen, vice president Business Process Outsourcing EMEA for HP Enterprise Services. “HP will work to provide a smooth transition to the new operating model and we look forward to helping Smith & Nephew establish a market-leading finance function in Europe.”

HP Enterprise Services founded thehealthcare IT servicesindustry more than 40 years ago. Today, HP is thelargest provider of business process management services in the healthcare and managed care market.HP’s global healthcare experience spans payer, provider, government and life science communities.

About Smith & Nephew
Smith & Nephew is a global medical technology business with global leadership positions in Orthopaedics; including Reconstruction, Trauma and Clinical Therapies; Sports Medicine; and Advanced Wound Management.

Smith & Nephew is dedicated to helping improve people's lives. The company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The company operates in 32 countries around the world. Annual sales in 2009 were nearly $3.8 billion.

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available athttp://www.hp.com.

Editorial Contacts

Keith Corbett, HP
+44 7810815824
keith.corbett@hp.com
HP UK Press Office
+44 207 3006142

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