According to people familiar with the matter, the company is planning to make an offer in the coming weeks, reports Bloomberg.

Stryker intends to offer a significant premium to the UK’s orthopedics devices maker and it could be around 30%, according to one of the people, cited the news publication.

Representatives from both the companies declined to comment on the takeover offer.

Smith & Nephew produces arthroscopy products, wound management products, trauma and clinical therapy products, as well as orthopedic reconstruction products.

The company markets its products in around 90 countries.

Smith & Nephew acquired surgical devices business Oratec Interventions for $310m in 2002. It also acquired Swiss orthopedics business Plus Orthopedics for $889m in 2007.

Image: Smith and Nephew Factory in East Riding of Yorkshire, UK. Photo: courtesy of Mtaylor848.