Acquisition by Stryker of K2M Group Holdings, a manufacturer of medical devices for the treatment of spinal pathologies and procedures. K2M Group Holdings, Inc., a global leader of complex spine and minimally invasive solutions focused on achieving three-dimensional Total Body Balance™, merged with Stryker Corporation in transaction in which Stryker acquired all of the issued and outstanding shares of common stock of K2M in an all cash transaction for $27.50 per share, or a total equity value of approximately $1.4bn. The purchase price represents a 27% premium over K2M’s average closing price during the 90 trading days ended August 29, 2018. Upon completion of the proposed transaction, K2M became a wholly owned subsidiary of Stryker Corporation. Post-closing, K2M’s Chairman, Chief Executive Officer, and President Eric D. Major are expected to be appointed as the President of Stryker’s Spine division. “Joining Stryker will be a very exciting next chapter for our global team and surgeon customers around the world,” said Chairman, Chief Executive Officer, and President of K2M, Eric D. Major. “Stryker’s established leadership in the orthopedic and neurosurgical market, combined with K2M’s culture of innovation and leadership in complex spine and minimally invasive solutions, represent a powerful opportunity for Stryker to strengthen its leadership in the $10 billion global spine market”.