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Wright Medical and Tornier N.V. complete merger
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Wright Medical has announced the completion of the previously announced merger between Wright Medical and Tornier N.V.
“The culmination of this merger marks a significant milestone for our company, creating the premier, high-growth extremities-biologics company uniquely positioned with leading technologies and specialized sales forces in three of the fastest growing areas of orthopedics – upper extremities, lower extremities and biologics,” Robert Palmisano, president and CEO of Wright Medical, stated in a company press release. “By bringing together the extensive and innovative capabilities of both Wright and Tornier, we can extend our leadership position and further accelerate our growth opportunities and path to profitability, all of which we believe will generate long-term value for our shareholders. This is also an exciting day for our employees as we officially join forces to pursue our shared commitment to serving extremities specialists and building the leading global business in this market.”
Under the terms of the agreement, Tornier and Wright Medical was renamed Wright Medical Group N.V and will begin trading under the symbol “WMGI” on the NASDAQ Global Select Market on Oct. 2. Each outstanding share of Wright common stock was exchanged for 1.0309 ordinary shares of Tornier, according to the release.
Reference: www.wmt.com