Key Developments: Wright Medical Group Inc (WMGI.P)

WMGI.P on NYSE Arca

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11 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Wright Medical Group Inc raises low end of FY 2014 revenue outlook to a range in line with analysts' estimates, reiterates EBITDA outlook, gives EPS outlook below analysts' estimates
Wednesday, 30 Apr 2014 04:03pm EDT 

Wright Medical Group Inc:Now expects FY 2014 net sales from continuing operations, or Extremity and Biologics revenue, of about $308 to $312 million (previous $305 to $312 million).Reiterates previously issued adjusted EBITDA from continuing operations of $(20.0) million to $(15.0) million.Adjusted earnings per share from continuing operations, including stock-based compensation, to be in the range of $(1.28) to $(1.38) per diluted share.FY 2014 revenue of $309 mln, EBITDA of $(16.31) mln and EPS of $(1.43) - Thomson Reuters I/B/E/S.  Full Article

Wright Medical Group Inc gives FY 2014 mixed guidance
Monday, 24 Feb 2014 04:00pm EST 

Wright Medical Group Inc:Expects FY 2014 net sales from continuing operations, or extremity and biologics revenue, to be in the range of $305 million to $312 million.Projects FY 2014 adjusted EBITDA from continuing operations, in the range of negative $(20.0) million to negative $(15.0) million.FY 2014 revenue of $279 million and EBITDA of $(11) million - Thomson Reuters I/B/E/S.  Full Article

Wright Medical Group Inc completes acquisition of OrthoPro, LLC
Wednesday, 5 Feb 2014 04:00pm EST 

Wright Medical Group Inc:Says it has completed its acquisition of OrthoPro, LLC.Says it has paid $32.5 mln in cash at closing plus payments of up to an additional $3.5 mln in cash, contingent upon the achievement of certain revenue-based milestones.  Full Article

Wright Medical Group Inc announces acquisition of Solana Surgical, LLC and enters into definitive agreement to Acquire OrthoPro, LLC
Thursday, 30 Jan 2014 04:46pm EST 

Wright Medical Group Inc:Says that it has acquired Solana Surgical LLC (Solana) and entered into a definitive agreement to acquire OrthoPro, LLC (OrthoPro), both privately held high growth extremity companies.Says transactions add complementary extremity product portfolios to further accelerate growth opportunities in Wright`s global Extremities business.Says transaction with OrthoPro is expected to close in February 2014.Says under the terms of the agreement with Solana, Wright acquired 100 pct of Solana's outstanding equity on a fully diluted basis for total consideration, net of acquired cash, of $90 million, consisting of about $47.6 million in cash and about $42.4 million of Wright common stock.Says under the terms of the agreement with OrthoPro, Wright will acquire 100 pct of OrthoPro's outstanding equity at a total price of up to $36 mln in cash as follows: $32.5 mln paid at closing and up to an additional $3.5 mln in cash contingent upon achievement of certain revenue-based milestones.  Full Article

MicroPort Scientific establishes MicroPort Orthopedics through acquisition of Wright Medical Group Inc's OrthoRecon business
Monday, 13 Jan 2014 10:56am EST 

MicroPort Scientific Corporation:Says the closing of the transaction to acquire the OrthoRecon business from Wright Medical Group, Inc.Says the transaction establishes MicroPort Orthopedics as the hip and knee reconstruction company, with global headquarters in Arlington, Tennessee.  Full Article

Wright Medical Group Inc completes divestiture of OrthoRecon Business
Thursday, 9 Jan 2014 05:02pm EST 

Wright Medical Group Inc:Says the closing of the transaction to divest its OrthoRecon business to MicroPort Scientific Corporation and its affiliates.Says the closing of the transaction occurred on Jan. 9, 2014.  Full Article

Wright Medical Group Inc Completes Acquisition Of Biotech International
Friday, 15 Nov 2013 10:25am EST 

Wright Medical Group, Inc announced that it has completed its acquisition of Biotech International (Biotech), a French orthopaedic extremities company. The transaction will expand Wright's direct sales channel in France and international distribution network. Wright previously announced plans on October 16, 2013 to acquire Biotech for an upfront purchase price of approximately $75 million in cash and stock, plus additional milestone payments of up to approximately $5 million in cash, which are payable upon the achievement of certain revenue milestones in 2014 and 2015.  Full Article

Wright Medical Group Inc Raises Low End Of Prior FY 2013 Revenue Guidance To A Range In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance; Comments On FY 2013 Charge Guidance
Monday, 4 Nov 2013 04:00pm EST 

Wright Medical Group Inc announced that for fiscal 2013, the Company is narrowing its previous guidance range of $235 million to $240 million and now anticipates net sales from continuing operations, or Extremity and Biologics revenue, of approximately $237 million to $240 million, which anticipates some potential minor, short-term dis-synergies due to the previously announced transaction with MicroPort. The Company continues to anticipate adjusted earnings per share from continuing operations, including stock-based compensation, to be in the range of $(0.55) to $(0.59) per diluted share. While the amount of the non-cash stock-based compensation charges will vary depending upon a number of factors, the Company currently estimates that the after-tax impact of those expenses will be approximately $0.14 per diluted share for fiscal 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $238 million and EPS of $(0.55) for fiscal 2013.  Full Article

Wright Medical Group Inc Announces Definitive Agreement To Acquire Biotech International
Wednesday, 16 Oct 2013 05:30pm EDT 

Wright Medical Group Inc announced that it has entered into a definitive agreement to acquire Biotech International (Biotech), privately held French orthopaedic extremities company. Under the terms of the agreement, Wright will acquire 100% of Biotech`s outstanding equity shares on a fully diluted basis at a total offer price of up to $80 million as follows: $75 million payable at closing, comprised of approximately $55 million of cash and $20 million of Wright common stock, and up to an additional $5 million of cash contingent upon the achievement of certain revenue milestones in 2014 and 2015. All Wright common stock issued in connection with the transaction will be subject to a one-year lockup. The transaction is expected to close in the fourth quarter of 2013. As part of the transaction, Biotech will spin off its dental business before the close.  Full Article

Wright Medical Group Inc Sees FY 2013 Revenue Guidance At Midpoint Of Prior Range-Conference Call
Wednesday, 11 Sep 2013 11:25am EDT 

Wright Medical Group Inc announced that for fiscal 2013, it expects sales for continuing operations at the midpoint of the Company's guidance is $237 million. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $238 million for fiscal 2013.  Full Article

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