Medical device maker Stryker has won US antitrust approval to buy Wright Medical Group on condition it sell certain assets, the Federal Trade Commission (FTC) announced on Tuesday, November 3.
The deal, which was valued at about US$4 billion when it was announced late last year, was part of a series of consolidations in the medical device industry and would make Stryker one of the market leaders in implants for the treatment of bone fractures as well joint replacements, reported Reuters.
To win approval for the deal, the companies agreed that Stryker would sell its businesses that make total ankle replacements, generally used to treat arthritis, and finger joint implants, used to treat advanced arthritis, to DJO Global, the FTC stated.
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