MicroPort’s Wright Bid Creates New Ortho Player
Wright Medical’s decision to sell its hip and knee business wasn’t entirely unexpected. The buyer, the Chinese company MicroPort, may have surprised some, but changes in orthopedics and the device industry as a whole could make such deals more common.
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To stave off the sluggish growth in established markets, multinational medtechs not only are finding new business in countries with booming health care industries, but they’re also forging new ways to serve customers. Device companies now are pushing into services, such as disease management, and angling to compete more aggressively on pricing.
To the surprise of many, the FDA issued a “not approvable” letter to Wright Medical Group for its Augment biologic bone graft. Now company executives must figure out what to do next to grow in the extremities space.
With hip and knee joint markets still registering slow to modest growth, orthopedic companies looking to add bulk to their bottom line through mergers and acquisitions have pursued two distinct directions – the extremities and emerging markets.