{"id":888,"date":"2020-12-30T05:57:26","date_gmt":"2020-12-30T05:57:26","guid":{"rendered":"https:\/\/sites.neoninspire.com\/michbio\/?p=888"},"modified":"2020-12-30T05:57:26","modified_gmt":"2020-12-30T05:57:26","slug":"stryker-closes-wright-medical-buy-sells-some-businesses-to-djo","status":"publish","type":"post","link":"https:\/\/sites.neoninspire.com\/michbio\/stryker-closes-wright-medical-buy-sells-some-businesses-to-djo\/","title":{"rendered":"Stryker closes Wright Medical buy, sells some businesses to DJO"},"content":{"rendered":"<p>Story Originally Published by Mass Device <a href=\"https:\/\/www.massdevice.com\/stryker-closes-wright-medical-buy-sells-some-businesses-to-djo\/\">here<\/a>.<\/p>\n<p>Stryker\u00a0(NYSE:SYK) announced that it has closed the purchase of\u00a0Wright Medical\u00a0(NSDQ:WMGI) and sold some of its arthroplasty systems to DJO.<\/p>\n<p>Kalamazoo, Mich.-based Stryker\u00a0announced 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\u2019s announcement of\u00a0plans\u00a0to allow Stryker to proceed with the acquisition, provided that Stryker divest certain assets to\u00a0Colfax\u00a0(NYSE:CFX)\/DJO Global.\u00a0The U.K. Competition and Markets Authority approved the transaction on Nov. 4.<\/p>\n<p>Yesterday, the company confirmed that the purchase, which as been\u00a0about a year in the making\u00a0and was subject to\u00a0plenty of scrutiny and many hurdles along the way.<\/p>\n<p>\u201cThis acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients,\u201d Stryker chairman &amp; CEO Kevin Lobo\u00a0said\u00a0in a news release. \u201cWe welcome the Wright Medical team to Stryker and look forward to growing the combined business by delivering solutions that improve patient outcomes.\u201d<\/p>\n<p>As part of the acquisition, DJO announced today that it completed its acquisition of total ankle and finger arthroplasty lines from Stryker for an undisclosed amount.<\/p>\n<p>The Star total ankle system, silicone, surface replacement (SR) and Tactys finger joint arthroplasty lines were the assets divested from Stryker so that it could move forward with the acquisition in accordance with the FTC.<\/p>\n<p>\u201cAnkle and finger arthroplasty are two fast-growing arthroplasty segments, and this acquisition reflects DJO\u2019s focus on providing market-leading solutions to meet the greater needs of surgeons and their patients,\u201d DJO CEO Brady Shirley\u00a0said\u00a0in a separate release. \u201cThis expansion allows us to address a larger patient population and enhances our goal of helping patients return to an active lifestyle.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Story Originally Published by Mass Device here. Stryker\u00a0(NYSE:SYK) announced that it has closed the purchase of\u00a0Wright Medical\u00a0(NSDQ:WMGI) and sold some of its arthroplasty systems to DJO. Kalamazoo, Mich.-based Stryker\u00a0announced 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.&hellip;<\/p>\n","protected":false},"author":342,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,14],"tags":[],"class_list":["post-888","post","type-post","status-publish","format-standard","hentry","category-industry-news","category-news"],"_links":{"self":[{"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/posts\/888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/users\/342"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/comments?post=888"}],"version-history":[{"count":1,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/posts\/888\/revisions"}],"predecessor-version":[{"id":889,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/posts\/888\/revisions\/889"}],"wp:attachment":[{"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/media?parent=888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/categories?post=888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sites.neoninspire.com\/michbio\/wp-json\/wp\/v2\/tags?post=888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}