August 30, 2018 / 12:14 PM / in 2 months

Stryker to buy K2M Group Holdings for about $1.4 billion

Aug 30 (Reuters) - Medical device maker Stryker Corp said on Thursday it will buy smaller rival K2M Group Holdings Inc for about $1.4 billion to tap into spinal device market.

The offer of $27.50 per K2M share, represents a premium of 26 percent to K2M Group Wednesday closing price.

“This acquisition underscores our commitment to the spinal market, which is the largest segment of orthopedics with significant unmet needs,” Stryker Chief Executive Officer Kevin Lobo said. (Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Arun Koyyur)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below