Nov 14 (Reuters) - Three major investors of Smith &

Nephew are pushing the medical device maker to consider a

break-up of the business, the Financial Times reported on

Thursday, citing shareholders.

The UK-headquartered company should spin off its

orthopaedics division, which makes replacement hip and knee

joints, if management could not improve its performance, the top

20 shareholders told FT.

A private equity firm could be a potential buyer for the

division, which is the largest for Smith & Nephew in terms of

revenue, the newspaper reported, citing two investors.

Smith & Nephew did not immediately respond to a Reuters'

request for comment.

Britain's largest medical products maker by market value,

Smith & Nephew slashed its annual underlying revenue growth

forecast in October on weak China demand.

Activist investor Cevian - known to call for change at firms

it takes up stake in - had built a 5% shareholding in Smith &

Nephew in July, making it the second-largest shareholder of the

medical device maker, according to LSEG data.