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Medical device maker Stryker to buy Wright Medical for USD 4 Billion


Medical device maker Stryker to buy Wright Medical for USD 4 Billion

Medical device maker Stryker Corp said on Monday it would buy smaller rival Wright Medical Group for about $4 billion in cash.

The deal for $30.75 per share of Wright represents a premium of 39.7% to the company’s close on Friday and is expected to close in the second half of 2020.

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Including debt, the deal values Wright at about $5.4 billion.

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(Reporting by Tamara Mathias in Bengaluru; Editing by Shinjini Ganguli)

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Source: Reuters
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