Stryker to acquire spinal technology company K2M in deal valued at $1.4 billion

Medical technology company Stryker Corp. SYK, -0.94% said Thursday it has agreed to acquire K2M Group Holdings Inc. KTWO, +25.44% for $27.50 a share or a total equity value of $1.4 billion. K2M was founded in 2004 and has become a player in the $10 billion market for technology to treat spinal disorders with annual sales of close to $300 million.