Stryker Gains Required Regulatory Approvals for Proposed Acquisition of Wright Medical

By Julie A. Vetalice

Stryker Gains Required Regulatory Approvals for Proposed Acquisition of Wright Medical

Stryker has obtained all required regulatory approvals for the previously announced offer for all outstanding ordinary shares of Wright Medical by Stryker B.V., an indirect, wholly owned subsidiary of Stryker. The tender offer is being made pursuant to the purchase agreement announced in late 2019.

Stryker STAR Ankle

Stryker STAR Ankle

The U.S. Federal Trade Commission voted to approve the transaction on November 3, and the U.K. Competition and Markets Authority approved the transaction on November 4. In connection with obtaining the required regulatory approvals, as previously announced, Stryker agreed to divest its STAR total ankle replacement product and related assets and finger joint replacement products to DJO.

“We are pleased to receive the necessary regulatory approvals for the proposed acquisition of Wright Medical and to be moving ahead with the offer to the company’s shareholders,” said Kevin Lobo, Chairman and Chief Executive Officer, Stryker. “Wright Medical has built a successful business, and together we look forward to working with customers to continue delivering solutions that improve patient outcomes.”

Tags: M&A