Stryker (NYSE:SYK) today said it is acquiring Wright Medical (NSDQ:WMGI) for $4.7 billion in cash. Through the agreement, Stryker will pay $30.75 per share and will acquire all of the issues and outstanding ordinary shares of Wright Medical for an equity value of $4.7 billion. With outstanding convertible notes, total enterprise value is set at $5.4 billion. The […]
Wright Medical stock dives on news of “knife fight” for sales reps, poor Cartiva sales
Shares in Wright Medical (NSDQ:WMGI) plunged 25% this morning on news of a “knife fight” with competitors over sales reps, and a $2 million lag in sales of its Cartiva arthritis treatment device. CEO Robert Palmisano told analysts late yesterday that smaller, privately owned competitors — which share the same independent distributor salesforce— are beating Wright […]
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