Wright Medical

The Wright Medical company develops orthopedic devices for upper and lower extremities and also speaks at the market of biological medicines.

Performance Indicators

2018-2019

In 2018 the sales volume of Wright Medical company was more than $836 million, and in 2019 — will exceed $1 billion.

History

2019: Stryker purchased Wright Medical for $4.7 billion

In the middle of November, 2019 Stryker announced acquisition of Wright Medical for $4.7 billion to strengthen the positions in the market of orthopedic devices.

Within the agreement of Stryker will acquire all shares Wright Medical issued and being in circulation, having paid for everyone $30.75 that in general and will make the amount of $4.7 billion. The total cost of the enterprise with convertible bills of exchange is $5.4 billion. It is expected that the deal will be closed in the second half of 2020.

Stryker announced Wright Medical acquisition to strengthen the positions in the market of orthopedic devices

The CEO of Stryker Kevin Lobo said to investors that Stryker considered acquisition of Wright Medical in hope long ago that the transaction will strengthen positions of the company in the fast-growing market of orthopedic medicine and traumatology. Interest in this part of the market is partly caused by the fact that the annual number of procedures of endoprosthesis replacement of a shoulder joint for the last decade grew three times thanks to a favorable demographic situation, expansion of indications and improvement of results of treatment.

The president and the CEO of Wright Medical Robert Palmisano said in the press release that the transaction will give to the staff of the company unique opportunities for development. "The Board of Directors of Wright Medical decided that this acquisition is equitable to the interests of our shareholders, the employees and other concerned parties, and unanimously voted for carrying out the transaction".

It is expected that in 2019 revenue of Wright Medical will make $900 million Stryker assumes what thanks to the transaction will manage to reduce costs for development of orthopedic technologies for $125 million in the first three years after acquisition of the company.^[1]

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