The COVID-19 pandemic presented a host of challenges, but major mergers in the orthopedic device space still got done.
A deadly coronavirus pandemic is certainly not a good environment for people to go in for knee and hip surgeries. But even amid a tough business climate, orthopedic device companies worked through big M&A deals, and there was even a significant product launch in the robotic ortho surgery space.
1. Stryker closes Wright Medical buy, sells some businesses to DJO
The world’s largest orthopedic device company has grown even bigger. Stryker announced in November that it had closed its $4.7 billion purchase of Wright Medical after months of negotiations with antitrust regulators in the U.S. and UK. To appease regulators, Stryker agreed to divest all assets associated with its total ankle replacements and finger joint implants to DJO Global.
“This acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients,” Stryker CEO Kevin Lobo said when the deal closed.
2. Fewer elective procedures amid COVID-19
Image by Wellcome Collection gallery, (2018...
