Following a public comment period, the Federal Trade Commission has approved a final order settling charges that medical device company Stryker Corp.’s proposed $4 billion acquisition of competitor Wright Medical Group N.V. would violate federal antitrust law.
According to the complaint, which was first announced in November 2020, the proposed acquisition would likely result in substantial competitive harm to consumers in the U.S. markets for total ankle replacements and finger joint implants.
Commission staff and the staff of the UK Competition and Markets Authority worked cooperatively to analyze the proposed transaction and potential remedies.
The final order requires Stryker and Wright to divest all assets associated with Stryker’s total ankle replacements and finger joint implants to DJO Global, allowing it to become an independent, viable, and effective competitor in these markets. The Commission vote to approve the final order was 5-0.