Ropes & Gray Advises Wright Medical Group in Sale to Stryker Corp.
Ropes & Gray advised Wright Medical Group N.V. on its agreement to be acquired by Stryker Corp. in a transaction with a total enterprise value of approximately $5.4 billion. The transaction was announced on Nov. 4 and expects to close in the second half of 2020. The press release is here.
Wright Medical, based in Amsterdam, is a global medical device company focused on extremities and biologics products. Kalamazoo, Mich.-based Stryker, one of the world’s leading medical technology companies, offers innovative products and services in orthopedics, medical and surgical, neurotechnology and spine that help improve patient and hospital outcomes.
Stryker will begin a tender offer for all outstanding ordinary shares of Wright Medical at $30.75 per share, in cash, and Wright will hold an extraordinary general meeting of its shareholders to approve certain resolutions related to the transaction. The closing of the transaction is dependent on applicable regulatory approvals among other customary conditions.
The Ropes & Gray team advising Wright Medical was led by strategic transactions partners Zachary Blume and Paul Kinsella (both of Boston), and included tax partner Lee Allison (New York), antitrust partner Michael McFalls (Washington), strategic transactions partner Thomas Holden (San Francisco) and benefits partner Loretta Richard (Boston).