The Federal Trade Commission approved a final order last week settling charges that a $3.3 billion merger between Wright Medical and Tornier would lead to unfair methods of competition.
The companies were required to sell Tornier’s U.S. rights and assets to its total ankle replacement products and total silastic toe joint replacement products to Integra Lifesciences.
The sale includes intellectual property, manufacturing technology and existing inventory.
Integra’s acquisition of these assets closed Oct. 2
Wright and Tornier also are required to supply Integra with total ankle replacements for up to three years and total silastic toe joint replacements for up to a year, while Integra transitions to become an independent competitor.
Wright, headquartered in Memphis, Tenn., and Amsterdam-based Tornier, entered into the merger agreement in an all-stock transaction in October 2014.
The FTC subsequently filed a complaint claiming that the merger would violate federal antitrust laws by substantially lessening competition in the U.S. markets.
The merger, which joins two global orthopedic device companies, closed Oct. 1, says company spokeswoman Julie Tracy. — Jonathon Shacat