Wright Medical Group is a global orthopedic medical device company specializing in the development and marketing of reconstructive joint devices and bioorthopedics. The company was formed upon the recapitalization of Wright Medical Technology, Inc., an established manufacturer and marketer of orthopedic implant devices for total joint reconstruction based in Memphis, Tennessee, and its subsequent acquisition of Cremascoli Ortho Group, a well regarded European orthopedics player. Wright's product line, with particular strengths in the areas of total knees, extremities, and bioorthopedics was bolstered by Cremascoli's complementary innovative hip systems and European distribution. Simultaneous with the merger, James T. Treace, former Chairman and Chief Executive Officer of Xomed Surgical Products, became Chairman of the Board of the combined company. Shortly thereafter, F. Barry Bays, former Chief Operating Officer of Xomed, became President and Chief Executive Officer. Warburg Pincus’ core investment thesis was that substantial consolidation in the orthopedic industry during the 1990s and improving industry fundamentals had created an opportunity for a relatively small but competitive orthopedics company to become an excellent platform from which a proven management team could build a very valuable business. Treace and Bays’s strategy was to focus on developing new products targeting high growth market segments, such as minimally invasive reconstructive surgery, small joint (foot and hand) implants, and bioorthopedics. Wright completed a $108 million initial public offering in July 2001 and a $106 million follow-on offering in February 2002.

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