UK Watchdog Skeptical Of Stryker's $4B Wright Medical Deal

Law360 (June 30, 2020, 4:02 PM EDT) -- The U.K. competition watchdog said Tuesday it has concerns about the potential impact of medical technology outfit Stryker Corp.'s planned $4 billion purchase of Wright Medical Group on the market for ankle replacements in the country.

The Competition and Markets Authority said in a statement that its initial investigation found the deal would give Stryker a 90% share of the market for total ankle replacement prostheses in the U.K. The products are predominantly used for elderly patients suffering from arthritis, and enforcers found the move could lead to "higher prices or less choice for hospitals and their patients."

Joel Bamford, senior...

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