The following excerpt is from the company's
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Wright Medical and Tornier Complete Merger and Create Premier
High-Growth Extremities-Biologics Company
AMSTERDAM, The Netherlands October 1, 2015
Wright Medical Group N.V. (NASDAQ: WMGI) announced today that it has successfully completed the previously announced merger of Wright Medical Group, Inc. and Tornier N.V. Under the terms of the merger agreement, a wholly-owned subsidiary of Tornier merged with and into Wright Medical Group, Inc., with Wright Medical Group, Inc. continuing as the surviving company and a wholly-owned sub sidiary of Tornier. Upon completion of the merger, Tornier was renamed Wright Medical Group N.V.
Wright Medical Group, Inc. shares will cease trading on the NASDAQ Global Select Market at the close of business today. Wright Medical Group N.V. ordinary shares will begin trading under the symbol WMGI on the NASDAQ Global Select Market on Friday, October 2, 2015.
Robert Palmisano, president and chief executive officer of Wright, stated, The culmination of this merger marks a significant milestone for our company, creating the premier, high-growth Extremities-Biologics company uniquely positioned with leading technologies and specialized sales forces in three of the fastest growing areas of orthopedics Upper Extremities, Lower Extremities and Biologics. By bringing together the extensive and innovative capabilities of both Wright and Tornier, we can extend our leadership position and further accelerate our growth opportunities and path to profitability, all of which we believe will generate long-term value for our shareholders. This is also an exciting day for our employees as we officially join forces to pursue our shared commitment to serving extremities specialists and building the leading global business in this market.
Under the terms of the transaction, each outstanding share of Wright common stock was exchanged for 1.0309 ordinary shares of Tornier.
The combined company will conduct business as Wright Medical Group N.V. and will leverage the global strengths of both product brands as a pure play Extremities and Biologics business. That leadership will be further enhanced by the recent U.S. Food and Drug...