Medical device maker Stryker Corp has won U.S. antitrust approval to buy Wright Medical Group on condition it sells certain assets, the Federal Trade Commission said on Tuesday.
The deal, which was valued at about $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.
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 [RABLE.UL], the FTC said.
Stryker did not immediately respond to a request for comment.
Source: Reuters.com