Stryker Corporation · NYSE:SYK
Stryker — Merger or Acquisition (November 2019)
14 slides from Stryker's merger presentation, Nov 4, 2019
Slide 1: Stryker acquisition of Wright Medical
Stryker acquisition of Wright Medical 1
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed
Slide 3: Mission and Values
Mission Together with our customers, we are driven to make healthcare better. Values Integrity Accountability People Performance We do what’s right We do what we say We grow talent We deliver 3
Slide 4: Our company strategy
Our company strategy Drive market leading growth and achieve category leadership in Orthopaedics, MedSurg Equipment, and Neurotechnology/Spine Customer focus Innovation Globalization Cost transformation • Intense customer • Make healthcare better • Focus resources, investment • Drive operational eff
Slide 5: Strategic rationale
Strategic rationale • Move consistent with our strategy of pursuing category leadership in our core markets • Extremities is a large and fast growing market • Global presence bringing together two complementary world class selling organizations • Significantly bolsters Stryker’s capabilities in the
Slide 6: Successful M&A track record
Successful M&A track record Color key: We continue to enhance our portfolio’s depth and Core business breadth with strategic mergers and acquisitions. Adjacency Pending Synergetics Ivy Sports USA’s Neuro Medicine, Portfolio LLC Invuity, Inc. Concentric Patient Safety Vertebral Compression Technologi
Slide 7: Our people, products and services create more possibilities for our customers everyday
Our people, products and services create more possibilities for our customers everyday. 7
Slide 8: Strong business alignment
Strong business alignment • Wright Medical is a leader in the extremities and biologics markets with a history of innovation and execution • Focused on surgical solutions for upper extremities, lower extremities and extremity biologic segments, three of the fastest growing segments in orthopedics (+
Slide 9: Wright Medical participates in segments amongst the fastest growing in orthopedics
Wright Medical participates in segments amongst the fastest growing in orthopedics Key segment growth drivers Shoulder • 3x increase in annual incidence of shoulder arthroplasty in last decade due to favorable demographics, expanding indications, and improved outcomes • Enabling technologies such as
Slide 10: Shoulder growth driven by expanding treatment rates
Shoulder growth driven by expanding treatment rates SIMPLICITI™ Shoulder Canal-sparing design provides maximal bone preservation and early intervention options PERFORM™ Reversed Glenoid Designed to address all glenoid bone loss REVIVE™ Shoulder Revision System Growing at 2x primary shoulder market S
Slide 11: Transaction summary
Transaction summary ◼ Cash tender offer of $30.75 per share Key Deal Terms ◼ Total Equity Value of approximately $4.0B and total Enterprise Value of approximately $5.4B (including convertible notes) ◼ Strong forward revenue growth of ~10% (2019E – 2021E) Wright Medical ◼ 2019 expected revenues of $9
Slide 12: Additional information and where to find it
Additional information and where to find it The tender offer for Wright’s outstanding ordinary shares referenced herein has not yet commenced. This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell ordinary shares of Wright or any other securities. This
Slide 13: Participants in the Solicitation
Participants in the Solicitation Wright, its directors and executive officers and other members of its management and employees, as well as Stryker and its directors and executive officers, may be deemed to be participants in the solicitation of proxies from Wright’s shareholders in connection with
Slide 14: Slide 14