MicroPort Scientific Completes Acquisition of Wright Medical's OrthoRecon Business

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.
 
For more information, please refer to: www.ortho.microport.com