Smith & Nephew, which employs 11,000 people worldwide including 1,200 in the UK, is to save £95m in costs over the next two years by cutting around 770 administrative jobs.

Mediwatch Plc recorded significantly improved pre-tax profits of £322,000 for the year to October 2011 compared with £233,000 in 2010. The company expects to complete a number of projects in 2012 which will strengthen and update its product lines. An improved performance for 2012 and beyond is expected.

Swindon-based Synergy Health, which provides outsourced support services to health related markets, has recorded like-for-like sales for its third quarter up 10.8 per cent to £232.5m. Underlying revenues, excluding currency effects and prior year non-core business, were £229.5m, up 11.5 per cent for the three months ending 2 January.

Siemens manufactures medical scanners as well as gas turbines and streetcars. The company has recorded a 17% fall in quarterly profits and booked 72 million euro in costs linked to the restructuring of its health-care division which includes job cuts in the diagnostics unit.