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Strategic Initiatives

Stryker Acquiring K2M -

Stryker entered into a definitive merger agreement to acquire K2M for ~US $1.4BB in cash. The transaction is slated to close in 4Q18. For 2017, K2M posted revenue of $249.3MM, +8.8% vs. 2016. Mr. Eric Major, K2M’s Chairman, CEO and President, is expected to lead Stryker Spine as President following the transaction’s close, taking over from Mr. Bradley Paddock. K2M will become a wholly-owned SYK subsidiary. Based on 2017 spine revenue, by ORTHOWORLD estimates, this transaction would rank SYK among the top three players in the segment, stepping over NuVasive—thus, changing the lineup to #1) Medtronic, #2 DePuy Synthes, #3). (Stryker, 8/30/18).