Stryker buys Wright Medical

Stryker is to acquire Wright Medical for around $4billion to bolster the former’s trauma and extremities business product portfolio and customer base with the latter’s surgical solutions for upper and lower extremities, advanced preoperative planning technology, and biologics.
Kevin Lobo, chairman and CEO at Stryker, said: “This acquisition enhances our global market position in trauma & extremities, providing significant opportunities to advance innovation, improve outcomes and reach more patients. Wright Medical has built a successful business, and we look forward to welcoming their team to Stryker.”
Robert Palmisano, Wright Medical’s president, executive director and CEO, said: “We believe this transaction will provide truly unique opportunities and will create significant value for our shareholders, customers and employees. By merging our complementary strengths and collective resources, we will be able to advance our broad platform of extremities and biologics technologies with one of the world’s leading medical technology companies that shares our vision of delivering breakthrough and innovative solutions to improve patient outcomes.”