British medical device company Smith & Nephew is still on the hunt for merger & acquisition deals.

Smith & Nephew

Smith & Nephew (FTSE:SN, NYSE:SNN) is on the hunt for buyout candidates, according to CEO Olivier Bohuon, ranging from a "bolt-on acquisition at $10 million to something much more significant."

Armed with $221 million in cash and equivalents as of June 30, the British medical device company has plenty of dry powder on hand to make its move. And Bohuon said Smith & Nephew "will borrow for the right acquisition" during a conference call yesterday.

Smith & Nephew has been actively seeking products to expand its current product offerings in minimally invasive surgery, he added.