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Wright Medical sells many device for upper-body procedures. Photo: BSIP/Universal Images Group via Getty Images

Medical device manufacturer Stryker is acquiring competitor Wright Medical for $4 billion in cash. The deal is valued at $5.4 billion when factoring in debt.

The big picture: The medical device industry would become even more consolidated with this takeover, and Stryker would have more than $15 billion in annual sales and a bolstered presence with shoulder, elbow and wrist procedures. However, Stryker and Wright Medical have some overlap with ankle devices, which could raise antitrust issues, Reuters notes.

Go deeper

The elusive political power of Mexican Americans

Data: Pew Research Center, U.S. Census Bureau; Chart: Michelle McGhee/Axios

Mexican Americans make up the nation's largest Latino group, yet they remain politically outshined by more recently arrived Cuban Americans.

Why it matters: The disparities in political power between Mexican Americans and Cuban Americans reflect the racial, historical, geographical and economic differences within Latino cultures in the U.S.

Bryan Walsh, author of Future
51 mins ago - Health

The barriers to vaccine passports

Illustration: Sarah Grillo/Axios

Vaccine passports could become available soon to help people resume their livesbut they face numerous scientific, social and political barriers to being accepted.

The big picture: Reliable and accessible proof of vaccine-induced protection from the novel coronavirus could speed international travel and economic reopening, but obstacles to its wide-scale adoption are so great it may never fully arrive.

Updated 8 hours ago - Politics & Policy

Senate action on stimulus bill continues as Dems reach deal on jobless aid

Photo: Alex Wong/Getty Images

Democratic leaders struck an agreement with Sen. Joe Manchin (D-W.V.) on emergency unemployment insurance late Friday, clearing the way for Senate action on President Biden's $1.9 trillion stimulus package to resume after an hours-long delay.

The state of play: The Senate continued to work through votes on a series of amendments overnight into early Saturday morning.