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During a press release, there was a massive development in the small bone and joints market, where Wright Medical sold all issued and outstanding ordinary shares of the company to the Stryker Corporation. The agreement between the two organizations is at a purchase value of $30.75 per share. This amounts to a totally equity of $4 billion, with an enterprise value of approximately $5.4 billion.
Wright medical is a global device company the specializes in extremities. Their focus is on small bone and joints in orthopedics and operate in 3 segments; upper extremities, lower extremities and biologics. Their product portfolio encompasses the following areas: Shoulder, Elbow, Wrist & Hand, Foot & ankle and Biologics.
According to iData Research, two of the major competitors in each segment of the small bone and joint market in the U.S. is Wright Medical, and Stryker. Each organization individually generates a large market share on its own. In the U.S. Wright Medical benefits from their position in the internal fixation markets, while Stryker has more of a presence in the joint replacement markets. The merger of the two organizations greatly expands Strykers product portfolio and customer base, furthering innovation and new developments, which will positively benefit patient care. However, their large market share presence in the small bone and joint segment of orthopedics may negatively impact the market for new competitors by making entry more difficult.
“We believe this transaction will provide truly unique opportunities and will create significant value for our shareholders, customers and employees. By merging our complementary strengths and collective resources, we will be able to advance our broad platform of extremities and biologics technologies with one of the world’s leading medical technology companies that shares our vision of delivering breakthrough and innovative solutions to improve patient outcomes,” said Robert Palmisano, president and chief executive officer of Wright Medical.
Stryker Corporation offers products and services in spine, orthopedics, medical and surgical, as well as neurotechnology that help improve patient and hospital outcomes. The Acquisition of Wright Medical is expected to close in the second half of 2020.
For Further Information
To get in an in-depth market overview, as well as insight through primary research and procedural volumes from 19 countries, please read iData Research’s’ 1657 page Small Bone and Joint Devices Market Analysis, Size, and Trends Report.