By MicroPort continues to diversify portfolio by establishing a new global orthopedics company
SHANGHAI - January 10, 2014 - MicroPort Scientific Corporation (HK: 0853) today confirms the closing of the transaction to acquire the OrthoRecon business from Wright Medical Group, Inc. (NASDAQ: WMGI). The acquisition was completed on January 9, 2014 and establishes MicroPort Orthopedics as the sixth largest multinational hip and knee orthopedic reconstruction business.
"MicroPort is deeply committed to the success of the orthopedics business and will continue to provide the focus and investment to enable it to reach its full potential while delivering on our mandate which is to build our portfolio of high quality, innovative and live-improving products," said Dr. Zhaohua Chang, Founder, Chairman and Chief Executive Officer of MicroPort Scientific.
The acquisition establishes the Arlington, TN facility as the global headquarters for MicroPort's orthopedics business, which includes U.S. manufacturing, global infrastructure and logistics, operations in the top four global orthopedic markets as well as established hip and knee franchise brands. With over 700 employees globally, MicroPort Orthopedics is MicroPort's largest division.
Ted Davis, Chief Executive Officer of MicroPort Orthopedics, stated, "This is an exciting transaction for the MicroPort Orthopedics team, our partners, our customers, our patients and the communities we operate in. It's an opportunity for us to build upon 60 years of innovative leadership in the hip and knee industry, to expand our orthopedics business segment and establish MicroPort as a worldwide provider of effective and affordable orthopedics management solutions."
"MicroPort's commitment to growth and research & development is the engine that drives our market leadership position in the cardiovascular market in China today," said Jonathan Chen, VP International Business & Investor Relations, MicroPort Scientific. "This philosophy extends to MicroPort Orthopedics as well as shareholders, patients and partners who can expect that our orthopedics business will be just as innovative."
About MicroPort Orthopedics
MicroPort Orthopedics Inc. is the sixth largest multinational producer of orthopedic products, a proud member of the MicroPort Scientific Corp. family of companies. From its global headquarters in Arlington, Tennessee, MicroPort Orthopedics develops, produces and distributes innovative OrthoRecon products. The US-based manufacturing and global logistics capabilities delivers high quality orthopedic reconstruction products to patients and their doctors in over 60 countries, including the U.S., EMEA, Japanese and Latin American markets.
About MicroPort
MicroPort Scientific Corp. is a leading medical device company publicly listed on the main board of Hong Kong (HK853). Founded in 1998 and headquartered in ZJ Hi-Tech Park, Shanghai MicroPort Medical (Group) Co., Ltd. currently represents the primary operation of the business, with interests in innovating, manufacturing, and marketing high quality and yet still affordable high-end medical devices. An ever diversifying portfolio of products, now being used at an average rate of one for every 30 seconds in over 2,000 major hospitals throughout China and around 30 other countries, cover a wide range of business segments including Cardiovascular Devices, Orthopedic Devices, Diabetes Care and Endocrinal Management, Electrophysiological Devices, Endovascular Devices, Neurovascular Devices, Surgical Management and others. MicroPort is dedicated to make a patient oriented global enterprise focusing on minimally invasive and other emerging medical technologies.
For more information, please refer to: www.microport.com.
Forward-Looking Statements
Some information contained on this website contains forward-looking statements. These forward-looking statements include, without limitation, those regarding our future financial position, our strategy, plans, objectives, goals and targets, future developments in the markets where we participate or are seeking to participate, and any statements preceded by, followed by or that include the words "believe", "intend", "expect", anticipate", "project", "estimate", "predict", "is confident", "has confidence" and similar expressions are also intended to identify forward-looking statements. Such statements are based upon the current beliefs and expectations of MicroPort's management and are subject to significant risks and uncertainties. MicroPort Scientific Corporation undertakes no obligation to update any of the statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors that could cause actual future results to differ materially from current expectations include, but are not limited to, general industry and economic conditions, PRC governmental policies and regulations relating to the medical device manufacturing industry, competition in the medical device manufacturing industry, our ability to develop new products and stay abreast of market trends and technological advances, our goals and strategies, our ability to execute strategic acquisitions of, investments in or alliances with other companies and businesses, fluctuations in general economic and business conditions in China.
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Copyright © 2013 MicroPort Scientific Corporation
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Jonathan Chen Vice President, International Business & Investor Relations Shanghai MicroPort Medical (Group) Co., Ltd. (HQ) Tel: (86)(21) 38954600 Email: jonathanchen@microport.com |
Xun You Board Secretary Shanghai MicroPort Medical (Group) Co., Ltd. (HQ) Tel: (86)(21) 38954600-5168 Email: ir@microport.com |
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