Stryker, a Fortune 500 medical technologies firm based in Kalamazoo, Michigan, agreed to acquire Wright Medical Group, a global medical device company focused on extremities and biologics, for $5.4bn. The boards of directors of both Stryker and Wright Medical have approved the transaction. “We believe this transaction will provide truly unique opportunities and will create significant value for our shareholders, customers and employees. By merging our complementary strengths and collective resources, we will be able to advance our broad platform of extremities and biologics technologies with one of the world’s leading medical technology companies that shares our vision of delivering breakthrough and innovative solutions to improve patient outcomes,” Robert Palmisano, Wright Medical Chief Executive Officer and President. On October 26, 2020: Stryker extended cash tender offer for all outstanding shares of Wright Medical.