Stryker : FTC Approves Conditions on Stryker's Acquisition of Wright Medical

By Stephen Nakrosis

The U.S. Federal Trade Commission on Thursday said it would require Stryker Corp. and Wright Medical Group N.V. to divest certain assets as a condition of Stryker's acquisition of Wright.

The FTC said it approved a final order settling charges that medical device company Stryker Corp.'s proposed acquisition of its competitor would violate federal antitrust law.

Under the terms of the order, Stryker and Wright will be required to 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.

In November of last year, Stryker announced it agreed to acquire Wright in a deal whose equity value was about $4 billion.

Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

12-17-20 1304ET