Wright Medical Group and Tornier NV have won U.S. antitrust approval for their merger on condition that they sell certain assets related to replacement ankle and toe joints, the Federal Trade Commission said on Wednesday.
The companies said when the deal was announced in October 2014 that the proposed transaction would create a company with a combined value of about $3.3 billion.
The deal will be allowed to go ahead on condition that the companies sell Tornier’s U.S. rights and assets related to total ankle replacements and total silastic toe joint replacements used to treat arthritis, the FTC said.
The FTC said that it required the divestitures because Wright has 44 percent of the market for the ankle replacements and Tornier has about 19 percent. They also have big shares of the market to make silastic toe joint replacements, the FTC said.
Full content: Reuters
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