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Report: Stryker approaches Boston Scientific for potential merger

U.S. medical device maker Stryker Corp. approached its competitor Boston Scientific Corp. for a potential takeover, The Wall Street Journal reported citing people familiar with the matter.

While it is unclear whether Boston Scientific is open to the idea of a merger, a potential transaction could create a medical-device giant with a combined value of more than $110 billion, the Journal said.

The deal will help diversify Kalamazoo, Mich.-based Stryker's product offerings, which include orthopedics, neurotechnology and spinal procedures. Marlborough, Mass.-based Boston Scientific sells cardiovascular devices.