FTC Says Stryker, Wright Medical Must Divest Assets as Part of Acquisition Deal
03 Novembre 2020 - 6:17PM
Dow Jones News
By Stephen Nakrosis
The Federal Trade Commission on Tuesday said it will require
medical device companies Stryker Corp. and Wright Medical Group
N.V. to divest certain of Stryker's assets to preserve
competition.
In November of last year, Stryker announced it had agreed to
acquire Wright in a deal whose equity value was about $4
billion.
The FTC said the companies would be required to divest Stryker's
total ankle replacements and finger joint implant products to
remedy concerns the acquisition would harm competition in those
markets.
"Under the proposed consent agreement, Stryker and Wright must
divest all assets associated with Stryker's total ankle
replacements and finger joint implants to DJO Global, allowing it
to become an independent, viable, and effective competitor in these
markets," the FTC said.
The FTC also said it worked with its counterparts at the U.K.
Competition and Markets Authority "to analyze the proposed
transaction and proposed remedy."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
November 03, 2020 12:02 ET (17:02 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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