Stryker : UK's CMA Says Stryker's Divestments Resolve Concerns on Wright Medical Acquisition

By Jaime Llinares Taboada

The U.K.'s Competition and Markets Authority said Wednesday that it has accepted a proposal from Stryker Corp. to sell its U.K. ankle prostheses business, facilitating regulatory green light for the company's acquisition of Wright Medical Group NV.

The competition watchdog, which had argued that the deal could hurt U.K. patients who need ankle replacements, said that it is satisfied with the divestment as it will address its competition concerns.

Stryker, a U.S. provider of medical-technology products and services, announced the $4 billion cash acquisition of Wright in November 2019.

Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT

(END) Dow Jones Newswires

11-04-20 0614ET