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Wright Medical floats to raise $94 million:

This article was originally published in Clinica

Executive Summary

Orthopaedics company Wright Medical has floated, at $12.50 per share, raising $93.75 million. Shares in the company stood at $15.60 at the close of the first day's trading. The Arlington, Tennessee company, which had sales of $158 million in 2000, makes reconstructive joints and develops biomaterials to replace damaged/diseased bone and to promote natural bone growth. It had a net loss of $39.5 million in 2000, slightly less than the previous year's figure.

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