Stryker Corporation reports developments as a global medical technology company serving MedSurg, Neurotechnology and Orthopaedics markets. Company news commonly covers operating results, organic sales trends, segment performance, dividends, shareholder-meeting activity and executive finance or investor-relations appointments.
Stryker updates also address portfolio expansion across medical devices, implants, instruments, operating-room equipment, neurotechnology and vascular solutions. Recent corporate activity includes the completed acquisition of Amplitude Vascular Systems, adding an intravascular lithotripsy platform for peripheral arterial disease to Stryker's peripheral vascular portfolio.
Stryker (NYSE: SYK) has received all regulatory approvals for its cash tender offer for Wright Medical Group N.V. (NASDAQ: WMGI). The U.S. Federal Trade Commission approved the transaction on November 3, 2020, followed by the UK Competition and Markets Authority. To facilitate this acquisition, Stryker agreed to divest its STAR total ankle replacement product and finger joint replacement products. The tender offer is set to expire at 5:00 p.m. ET on November 10, 2020, with completion subject to conditions outlined in the tender offer statement.
Stryker reported a net sales increase of 4.2% to $3.7 billion for Q3 2020, despite COVID-19 disruptions.
Organic net sales rose 3.3%, with adjusted EPS climbing 12% to $2.14. Reported net income grew 33.3% to $621 million. Operating income margin improved to 28%, a 260 bps increase. Stryker refrained from providing Q4 or full-year guidance due to pandemic uncertainties.
Stryker (NYSE: SYK) announced an extension for its cash tender offer for Wright Medical Group N.V. (NASDAQ: WMGI) shares, now set to expire on November 10, 2020. As of October 23, 2020, approximately 12.4% of Wright's shares have been tendered. The completion of the tender offer is contingent upon various conditions outlined in the Schedule TO filed with the SEC. Shareholders who have already tendered do not need to take further action. For more details, shareholders are advised to contact Innisfree M&A Incorporated.
Stryker (NYSE: SYK) announced an extension of its cash tender offer for Wright Medical Group (NASDAQ: WMGI). The new expiration is set for October 28, 2020. As of October 12, 2020, approximately 10.7% of Wright's outstanding shares, or 13,870,057 shares, were tendered. The completion of this offer is subject to conditions outlined in previous filings with the SEC. Shareholders who have tendered do not need to act again due to this extension. Innisfree M&A Incorporated serves as the information agent for the tender offer.
Stryker (NYSE: SYK) has extended the offering period for its cash tender offer for Wright Medical Group N.V. (NASDAQ: WMGI) shares until October 14, 2020. As of September 28, 2020, 13,817,681 Wright Medical shares, about 10.6% of the outstanding shares, had been validly tendered. The tender offer is subject to the conditions in the Schedule TO filed with the SEC. Shareholders who already tendered do not need to act again. Stryker is a leading medical technology company focused on improving healthcare outcomes.
Stryker (NYSE: SYK) announced an extension of its cash tender offer for all outstanding shares of Wright Medical Group N.V. (NASDAQ: WMGI). The offer period is now set to expire on October 14, 2020, unless further extended. As of September 28, 2020, approximately 10.6% of Wright Medical's ordinary shares had been validly tendered. The completion of the tender offer is contingent upon various conditions as outlined in the Schedule TO filed with the SEC. Shareholders do not need to take further action if they have already tendered their shares.
Stryker (NYSE:SYK) will host a conference call on October 29, 2020, at 4:30 p.m. ET to discuss its Q3 2020 operating results and provide an operational update. The final results will be released at 4:05 p.m. ET on the same day. Interested participants can join the call by dialing (877) 702-4565 for domestic calls or (647) 689-5532 for international calls, using conference ID 5297589. A webcast will be available on Stryker's website, which will also host archived recordings of the call from October 29, 2020, 8:00 p.m. ET until November 5, 2020, 11:59 p.m. ET.
Stryker (NYSE:SYK) will host a conference call on October 29, 2020, at 4:30 p.m. ET, to discuss its operating results for the quarter ended September 30, 2020. The final results will be released at 4:05 p.m. on the same day. To join the call, dial (877) 702-4565 domestically or (647) 689-5532 internationally, using conference ID 5297589. A webcast will be available on their website, and the call will be archived for later access until November 5, 2020.
Stryker (NYSE: SYK) will participate in the Morgan Stanley 18th Annual Virtual Global Healthcare Conference on September 15, 2020, at 10:15 a.m. Eastern Time. Kevin Lobo, the Chairman and CEO, will represent the company. A webcast and replay of the presentation will be accessible on Stryker's website, www.stryker.com, and archived on the Investor Relations page. Stryker is a leader in medical technology, focusing on improving healthcare through innovative products in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine.
Stryker (NYSE: SYK) has extended the cash tender offer for Wright Medical Group N.V. (NASDAQ: WMGI) shares, now set to expire on September 30, 2020. As of August 27, 2020, approximately 10.5% of Wright Medical's ordinary shares were validly tendered. The tender offer's completion is contingent on certain conditions outlined in Stryker's filings with the SEC. Shareholders who have already tendered their shares do not need to take further action due to this extension. Innisfree M&A Incorporated serves as the information agent for the tender offer, with contact information provided.