US-based surgical implant maker Stryker is reportedly planning a takeover offer for the UK-based medical device company Smith & Nephew.
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.