Wright Medical (NSDQ:WMGI) today said it raised $395 million in a private placement of debt with a syndicate of institutional investors. The offering, of 2.25% convertible senior notes due in 2021, is expected to close May 20, Wright said. Some holders of Wright’s 2.0% notes due in 2017 and 2020 have pledged to exchange the […]
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Wright Medical COO, ex-Tornier CEO Mowry, steps down | Personnel Moves May 5, 2016
Wright Medical COO, ex-Tornier CEO Mowry, steps down Wright Medical (NSDQ:WMGI) said yesterday its exec veep and chief operating officer, and former Tornier (NSDQ:TRNX) CEO, David Mowry will be stepping down from the company on May 6 to pursue other opportunities. The company did not indicate who would take Mowry’s position. Read more
Wright Medical gains on Q4 earnings beat
Wright Medical (NSDQ:WMGI) shares gained today after the orthopedics maker smashed Wall Street’s earnings forecast by a full 25¢ in the 1st quarter since its $3.3 billion merger with Tornier. Memphis-based Wright posted losses of -$105.8 million, or -90¢ per share from continuing operations, on sales of $177.0 million for the 3 months ended Dec. 27, […]
Wright Medical contests $11m hip verdict
Wright Medical (NSDQ:WMGI) yesterday asked a federal judge in Georgia to toss the $11 million verdict from the 1st bellwether trial in the multidistrict litigation filed over its Conserve metal-on-metal hip implant. An Atlanta jury last year awarded plaintiff Robyn Christiansen $1 million in compensatory damages and another $10 million in punitive damages. The jury found Nov. 24 that […]
Jury hits Wright Medical with $11m verdict in Conserve hip implant bellwether
A federal jury in Georgia last week handed an $11 million loss to Wright Medical (NSDQ:WMGI) in the 1st bellwether trial in the multidistrict litigation filed over its Conserve metal-on-metal hip implant. The Atlanta jury awarded plaintiff Robyn Christiansen $1 million in compensatory damages and another $10 million in punitive damages, Christiansen’s lawyers said. The jury found […]
Wright and Tornier complete $3.3B merger
Wright Medical (NSDQ:WMGI) and Tornier N.V. (NSDQ:TRNX) said today they successfully completed their $3.3 billion merger, with Tornier acquiring Wright and taking up the name Wright Medical N.V. Wright Medical’s shares will cease trading today under its old name and shares in the combined company will begin trading under Wright’s previous ticker of “WGMI” tomorrow, the company […]
Integra LifeSciences acquires Tornier assets ahead of Wright Medical merger
Integra LifeSciences (NSDQ:IART) agreed to acquire some of Tornier’s (NSDQ:TRNX) ankle and toe assets in the U.S., as the Dutch orthopedics company looks to satisfy anti-trust regulators about its pending, $3.3 billion merger with Wright Medical (NSDQ:WMGI). The deal calls for Integra to acquire the U.S. rights to Tornier’s Salto Talaris and Salto XT ankle replacement devices and […]
FDA approves Wright Medical’s Augment bone graft
Wright Medical (NSDQ:WMGI) said yesterday that the FDA approved the Augment bone graft it acquired when it closed a $380 million buyout of BioMimetic Therapeutics in 2013. Pre-market approval from the FDA means Wright can begin marketing Augment in the U.S. as an alternative to autograft for ankle and hindfoot fusion procedures, the Memphis-based company said. It’s been a long […]
Wright Medical Q2 tops rev, misses earnings
Wright Medical (NSDQ:WMGI) reported its Q2 earnings yesterday, coming in above the street on revenue and below on earnings after offloading its hip and knee business to MicroPort Medical. The Memphis, Tenn.-based company reported losses of $44.3 million, down 21% from a $56.2 million loss last year, on sales of $80.4 million with an 87¢ […]
Wright and Tornier shareholders approve merger
Wright Medical (NSDQ:WMGI) and Tornier (NSDQ:TRNX) said yesterday that both companies’ shareholders approved the $3.3 billion merger of the 2 orthopedic giants. Tornier is slated to take Wright Medical’s name in the merger, and both companies will appoint a combined board of directors, the companies said. “We are extremely pleased with the positive vote we received from Wright shareholders, […]