Stryker proposed divesting certain assets in connection to its planned acquisition of Wright Medical, which is under review by the Federal Trade Commission, according to a filing with the Securities and Exchange Commission.
What you should know:
1. Stryker proposed a plan to divest its STAR total ankle replacement product plus related assets, as well as finger joint replacement products to Colfax Corporation/DJO Global.
2. The proposal requires regulatory approvals and the execution of definitive divestiture documents.
"There can be no assurance that the proposed divestiture will receive the necessary regulatory approvals or be consummated," the SEC filing said.
3. Stryker first announced plans to acquire Wright Medical, a device company focusing on orthopedic extremities and biologics, in November 2019.
4. The total enterprise value of the transaction would be about $5.4 billion, including equity and debt.