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  "documentTitle": "Stryker Corp. (SYK)",
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  "authorName": "Ben Axler",
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  "notes": "Uses a red box callout to highlight the inventory figure and an arrow to show the jump from pre-acquisition to post-acquisition valuation.",
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      "kind": "callout",
      "text": "In November 2019, Stryker announced the acquisition of Wright Medical Group (Nasdaq: WMGI) for ~$4.0 billion in equity value. The transaction closed on November 11, 2020.(1) The last inventory report from WMGI showed $243 million of inventory as of Sept 27, 2020. Stryker modified its valuation of the inventory 5 times, from nearly a 100% increase to a final increase of 82%.",
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      "text": "Stryker modified its valuation of the inventory 5 times, from nearly a 100% increase to a final increase of 82%.",
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      "text": "inventory valuation: 82%",
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      "text": "Source: 2020 10-K",
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      "text": "1) Stryker completes acquisition of Wright Medical",
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      "text": "Source: WMGI Q3 2020 10-Q",
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