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Wright Medical’s leading upper extremity portfolio and advanced preoperative planning technology will significantly add to Stryker’s offering. Katherine Owen, Vice President, Strategy & Investor Relations at 269-385-2600 or katherine.owen@stryker.com, For media inquiries please contact: Shares of Wright Medical ceased trading prior to the open of the market on November 11, 2020 and will be delisted from the Nasdaq Global Select Market. Information about Stryker’s directors and executive officers is set forth in the proxy statement for Stryker’s 2019 annual meeting of shareholders, which was filed with the SEC on March 20, 2019. Photo: Courtesy of Adam Radosavljevic from Pixabay. Manager, Investor Relations MedTech giant Stryker has entered into a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group. The closing of the transaction is subject to receipt of applicable regulatory approvals, the adoption of certain resolutions relating to the transaction at an extraordinary general meeting of Wright Medical shareholders, completion of the tender offer and other customary closing conditions. 269-385-2600. Assuming a September 30, 2020 closing, the transaction is expected to have no impact to Stryker’s adjusted net earnings per share in 2020, $(0.10) dilution in 2021 and will be accretive thereafter. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. Stryker’s offer for $30.75 per Wright share represents a premium of 39.7% to the company’s close on Friday. Kalamazoo, Michigan, Nov. 04, 2019 (GLOBE NEWSWIRE) -- Stryker (NYSE: SYK) announced today a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group N.V. (NASDAQ: WMGI) for $30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes). Following completion of the tender offer, Stryker completed the acquisition of Wright Medical on November 11, 2020 through a series a mergers implemented pursuant to the agreement and plan of merger, dated as of November 10, 2020, by and among Stryker, Stryker B.V., Wright Medical, Wright Luxembourg S.A., a Luxembourg société anonyme that is a direct wholly owned subsidiary of Wright Medical, Wright Medical Ltd., a Bermuda exempted company and a wholly owned subsidiary of Wright Luxembourg and Stryker Unite, Ltd., a Bermuda exempted company and a wholly owned subsidiary of Stryker B.V. We disclaim any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that affect the likelihood that actual results will differ from those contained in the forward-looking statements. Stryker noted that Wright Medical is a recognized leader in the upper extremities (shoulder, elbow, wrist, and hand), lower extremities (foot and ankle), and biologics markets, which are among the fastest-growing segments in orthopedics. On an end of July earnings call, Stryker management widened its projected timeline for the deal to close from the third quarter to early in the fourth quarter. “Wright Medical has built a successful business, and we look forward to welcoming their team to Stryker.”, “We believe this transaction will provide truly unique opportunities and will create significant value for our shareholders, customers and employees,” said Robert Palmisano, Executive Director, Chief Executive Officer and President of Wright Medical. Forward-looking statements Stryker will host a conference call for financial analysts at 8:00 AM ET today to discuss additional details regarding the proposed transaction. Shareholders can obtain these documents when they are filed and become available free of charge from the SEC’s website at www.sec.gov. In connection with the mergers, each ordinary share of Wright Medical not validly tendered pursuant to the tender offer (other than shares owned by Wright Medical as treasury shares or owned by Stryker, Stryker B.V. or any other direct or indirect wholly owned subsidiary of Stryker immediately prior to the mergers) has been converted automatically into the right to receive the merger consideration provided in the merger agreement in cash, without interest and less applicable withholding taxes. The deal includes issued and outstanding ordinary shares of the company. At Stryker, we promise to treat your data with respect and will not share your information with any third party. “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.”. The total enterprise value of the deal is $5.4 billion. Such factors include, but are not limited to: the impact of the COVID-19 pandemic and related policies and actions by governments or third parties; unexpected liabilities, costs, charges or expenses in connection with the acquisition of Wright Medical Group N.V. (“Wright”); the effects of the Wright transaction on the parties’ relationships with employees, customers, other business partners or governmental entities; weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products, including Wright products; potential supply disruptions; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to recall-related matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; costs to comply with medical device regulations; changes in financial markets; changes in the competitive environment; our ability to integrate and realize the anticipated benefits of acquisitions in full or at all or within the expected timeframes, including the acquisition of Wright; and our ability to realize anticipated cost savings. (RTTNews) - Stryker (SYK) has agreed to acquire Wright Medical Group N.V. (WMGI), a global medical device company focused on extremities and biologics, for $30.75 per … • Significantly bolsters Stryker’s capabilities in the $3Bupper extremity market • Successful integration will drive meaningful synergies • Wright Medical leadership team has built a strong company, with a comparable culture of specialized sales forces, quality and compliance . As previously mentioned, Stryker is not providing guidance on fourth-quarter earnings given the uncertainties related to the COVID-19 pandemic. In addition, Wright shareholders may obtain free copies of the tender offer materials by contacting the information agent for the tender offer that will be named in the Tender Offer Statement on Schedule TO. KALAMAZOO — Stryker Corp. plans to buy Wright Medical Group N.V., a Netherlands-based maker of orthopedic products for the ankle, wrist, foot and shoulder, for $4 billion in cash. For investor inquiries please contact:Preston Wells, Vice President, Investor Relations at 269-385-2600 or preston.wells@stryker.com, For media inquiries please contact:Yin Becker, Vice President, Communications, Public Affairs and Corporate Marketing at 269-385-2600 or yin.becker@stryker.com, Preston Wells Dive Brief: In by far its largest acquisition announced this year, Stryker plans to integrate Wright Medical into its orthopaedics... CEO Kevin Lobo told investors … Stryker was looking to strengthen its position in the trauma and extremities markets. You can sign up for additional alert options at any time. You must click the activation link in order to complete your subscription. Stryker Corporation, Matthew Harrison Kalamazoo, Michigan, Nov. 04, 2019 (GLOBE … Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. For investor inquiries please contact: Stryker (SYK) announced a $4 billion plan to acquire Wright Medical Group (WMGI) on Monday, sending the two medical technology stocks on a divergent … To hear this recording, dial 800-585-8367 (domestic) or 416-621-4642 (international) and enter the conference ID number 9898250. Pursuant to the merger agreement, $1.85 per share has been deducted and withheld from the $30.75 per share of merger consideration in connection with Dutch dividend withholding tax described in the tender offer statement on Schedule TO filed by Stryker B.V. with the U.S. Securities and Exchange Commission on December 13, 2019, as amended. Stryker Corporation offers products and services in spine, orthopedics, medical and surgical, as well as neurotechnology that help improve patient and hospital outcomes. Wright Medical brings a highly complementary product … Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 6 Orthovita Concentric Stryker announced a definitive agreement to acquire all of the issued and outstanding ordinary shares of Wright Medical Group N.V. for $30.75 per share, or a total equity value of approximately $4.0 billion and a total enterprise value of approximately $5.4 billion (including convertible notes). Shareholders may obtain additional information regarding the direct and indirect interests of the participants in the solicitation of proxies in connection with the EGM Proposals, including the interests of Wright’s directors and executive officers in the transaction, which may be different than those of Wright’s shareholders generally, by reading the proxy statement and other relevant documents regarding the transaction which will be filed with the SEC. The acquisition of Wright Medical is expected to close in the second half of 2020 and is expected to have no impact to Stryker’s net earnings per diluted share and adjusted net earnings per diluted share in 2019. Copies of the documents filed with the SEC by Stryker will be available free of charge on Stryker’s website, www.stryker.com, or by contacting Stryker’s investor relations department at katherine.owen@stryker.com. Wright Medical shares were up 30% at $28.64, while Stryker’s shares fell 4.5%. You can sign up for additional alert options at any time. 269-385-2600. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Under the terms of the agreement, Stryker will commence a tender offer for all outstanding ordinary shares of Wright Medical for $30.75 per share, in cash. Wright Medical, which was founded in 1950, is a global medical device company focused on extremities and biologics. A recording of the call will also be available from 11:30 AM ET on Monday, November 4, 2019, until 11:59 PM ET, on Monday, November 11, 2019. Stryker announces definitive agreement to acquire Wright Medical. “We welcome the Wright Medical team to Stryker and look forward to growing the combined business by delivering solutions that improve patient outcomes.”. If you experience any issues with this process, please contact us for further assistance. Wright Medical brings a highly complementary product portfolio and customer base to Stryker’s trauma and extremities business. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. For those readers who don’t know the story, here is a quick summary of Wright Manufacturing’s long, strange but very important trip. Additional Information and Where to Find It. Wright Medical is an international medical device company focused on upper and lower extremities and biologics businesses Image: Stryker has signed agreement to acquire Wright Medical for $4bn. The Acquisition of Wright Medical is expected to close in the second half of 2020. American Stock Transfer & Trust Company, LLC, the depositary for the tender offer, has advised Stryker B.V. that 124,901,861 Wright Medical ordinary shares, representing … “This acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients,” said Kevin Lobo, Chairman and Chief Executive Officer, Stryker. Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. A simultaneous webcast of the call will be accessible via the company's website at www.stryker.com. Such factors include, but are not limited to: the failure to satisfy any of the closing conditions to the acquisition of Wright, including the receipt of any required regulatory clearances (and the risk that such clearances may result in the imposition of conditions that could adversely affect the expected benefits of the transaction); delays in consummating the acquisition of Wright; unexpected liabilities, costs, charges or expenses in connection with the acquisition of Wright; the effects of the proposed Wright transaction (or the announcement thereof) on the parties relationships with employees, customers, other business partners or governmental entities; weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products, including Wright products; potential supply disruptions; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to recall-related matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; costs to comply with medical device regulations; changes in financial markets; changes in the competitive environment; our ability to integrate and realize the anticipated benefits of acquisitions in full or at all or within the expected timeframes, including the acquisition of Wright; and our ability to realize anticipated cost savings. The boards of directors of both Stryker and Wright Medical have approved the transaction. The call will be archived on the investor relations page of this site. Background. There is no change to Stryker’s previously announced expected adjusted net earnings per diluted share for the full year, which is a range of $8.20 - $8.25. More information is available at www.stryker.com. Under a definitive agreement announced this morning, Stryker (NYSE: SYK) will offer Wright Medical Group $30.75 per share for outstanding shares. November 04, 2019 07:00 ET | Source: Stryker Corporation. Nov 4 (Reuters) - Medical device maker Stryker Corp SYK.N said on Monday it would buy smaller rival Wright Medical Group WMGI.O for about $4 billion in cash, to … Vice President, Investor Relations Available free of charge from the SEC ’ s trauma and extremities business the tender offer for wright ’ trauma. Et today to discuss additional details regarding the proposed transaction to send you the email! 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