Stryker (NYSE:SYK) announced that it closed the purchase of Wright Medical (NSDQ:WMGI) and sold some of its arthroplasty systems to DJO.
Kalamazoo, Mich.-based Stryker announced last week that it planned to complete the $4.7 billion tender offer at its expiration, which was scheduled for 5 p.m. ET on Nov. 10, 2020. That news followed U.S. Federal Trade Commission’s announcement of plans to allow Stryker to proceed with the acquisition, provided that Stryker divest certain assets to Colfax (NYSE:CFX)/DJO Global. The U.K. Competition and Markets Authority approved the transaction earlier today.
Yesterday, the company confirmed that the purchase, which as been about a year in the making and was subject to plenty of scrutiny and many hurdles along the way.
“This acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients,” Stryker chairman & CEO Kevin Lobo said in a news release. “We welcome the Wright Medical team to Stryker and look forward to growing the combined business by delivering solutions that improve patien...
