Stephen Simpson, CFA
Oct. 1, 2015, 11:37 AM
- Wright Medical Group (WMGI +1.2%) and Tornier N.V. (TRNX +1.1%) complete their previously announced merger. Each share of Wright was exchanged for 1.0309 shares of Tornier.
- Under the terms of the deal, a wholly owned subsidiary of Tornier merged with and into Wright with Wright continuing as the surviving firm and a wholly owned subsidiary of Tornier. The combined company will do business as Wright Medical Group N.V., trading under the symbol "WMGI" starting tomorrow.
- Wright expects top-line growth in the mid-teens and non-GAAP EBITDA margins close to 20% in three to four years. Updated guidance for 2015 will be provided during the company's Q3 earnings call on November 4.
- Previously: Wright Medical and Tornier merge (Oct. 27, 2014)
Oct. 28, 2014, 8:13 AM
Oct. 27, 2014, 4:30 PM
- Wright Medical Group (WMGI -0.7%) and Tornier N.V. (TRNX +1.9%) agree to merge in an all-stock transaction that values the combined entity at $3.3B. Under the terms of the merger agreement, each Wright share will be exchanged for 1.0309 ordinary shares of Tornier. When the deal is done, Wright shareholders will own ~52% of the combined company and Tornier shareholders will own ~48%.
- The post-merger company will do business as Wright Medical Group N.V. Wright CEO Robert Palmisano will head the organization and Tornier President and CEO David Mowry will become EVP and COO.
Aug. 24, 2012, 2:04 PM
In an effort to expand its sales to foot and ankle surgeons, medical-device maker Tornier (TRNX +1.2%) acquires OrthoHelix Surgical Designs in a $135M cash and stock deal. Wells Fargo sees the match up as "smart" because it will increase the proportion of sales from the faster-growing extremities business versus its large-joint business.| Aug. 24, 2012, 2:04 PM