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Medical device maker Stryker gets US antitrust nod to buy Wright Medical Group
Washington: Medical device maker Stryker Corp has won U.S. antitrust approval to buy Wright Medical Group on condition it sell certain assets, the Federal Trade Commission said on Tuesday.
The deal, which was valued at about $4 billion when it was announced late last year, was part of a series of consolidations in the medical device industry and would make Stryker one of the market leaders in implants for the treatment of bone fractures as well joint replacements.
To win approval for the deal, the companies agreed that Stryker would sell its businesses that make total ankle replacements, generally used to treat arthritis, and finger joint implants, used to treat advanced arthritis, to DJO Global [RABLE.UL], the FTC said.
Stryker did not immediately respond to a request for comment.
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Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751