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Stryker to buy Wright Medical for $4 billion

A doctor wearing green scrubs looks at shoulder x-rays mounted on a viewing light.
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.