Stryker Announces Definitive Agreement To Acquire Wright Medical

For media, please contact: Yin Becker, Vice President, Communications, Public Affairs and Corporate Marketing at 269-385-2600 or yin.becker@stryker.com Bellingham Herald – thanks to advances in medical technology, many surgical patients, who would have lived a few nights in a hospital, now receive complex procedures in ambulances that they can get in and out in less than a day. […] Stryker is one of the world`s leading medical technology companies and is committed with its customers to improving health. The company offers innovative products and services in the fields of orthopedics, medicine and surgery, as well as neurotechnologies and the spine, which contribute to the improvement of patient and hospital outcomes. For more information, see www.stryker.com. Following the takeover bid, Stryker completed the acquisition of Wright Medical on 11 November 10, 2020, through a series of mergers by and between Stryker, Stryker, Stryker B.V., Wright Medical, Wright Luxembourg S.A., a Luxembourg limited company, a direct subsidiary of Wright Medical, in accordance with the agreement and merger plan of 10 November 2020. Wright Medical Ltd., a Bermuda exempt company and a 100% subsidiary of Wright Luxembourg and Stryker Unite, Ltd., a Bermuda-free company and a 100% subsidiary of Stryker B.V. In the context of the mergers, any common shares of Wright Medical that have not been effectively used in accordance with the tender offer (with the exception of shares held by Wright Medical as own shares or Stryker, Stryker B.V.). or any other 100% direct or indirect subsidiary of Stryker, immediately prior to the mergers), has been automatically converted into the right to receive the merger underperformance under the merger agreement in cash, without interest and less applicable withholding taxes. Pursuant to the merger agreement, $1.85 per share was deducted and withheld from the $30.75 per share of the counterperformance of the merger related to the Dutch dividend deduction tax described in the offer statement regarding Schedule TO, as amended, submitted by Stryker B.V. on December 13, 2019. Information on the treatment of the amount thus withheld is described in Annex TO. Following the mergers, Wright Medical became a 100% subsidiary of Stryker.

Wright Medical shares were launched before the market opened, on the 11th Nasdaq Global Select Market ceased operations on November 1, 2020. One year to the day after announcing its $4 billion plan to buy Wright Medical, Stryker acknowledged that the deal was imminent. Wright Medical`s $US 30.75-per-share tender offer has since been renewed seven times. In the latest extension, the offer expires 17.m. Eastern Time next Tuesday, Nov. 10, and Stryker „expect the takeover bid to close immediately after expiration,“ Wednesday`s press release reads. Stryker will bend Wright at a time when demand for medical devices has returned to its pre-pandemic level, but remains low. Wright`s quarterly filing with the U.S. The Securities and Exchange Commission on Monday showed a strong rebound in sales between the second quarter, which fell about 43 percent, and the third quarter, where revenue rose 5.1 percent. Wright`s U.S. business with lower extremities, upper extremities, and biologics all increased the year before, while the U.S. …