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10 to Watch: MicroPort Orthopedics

The following is a preview of the 10 to Watch issue of our Memphis Crossroads Magazine. View all of the 10 to Watch companies and the full magazine here.

Look for a big year from MicroPort Orthopedics Inc. as the new company has completed its separation from Wright Medical and starts 2015 in “growth mode.”

China’s MicroPort Scientific announced it would buy the orthopedic reconstruction unit from Arlington-based Wright Medical in 2013, a deal valued at $290 million. MicroPort focused much of 2014 on finalizing that separation from Wright and stabilizing the business, according to MicroPort Orthopedics CEO Ted Davis. 

This year, the company is focused on converting its investments in the business (research and development, marketing, and more) into revenue growth drivers. Also, it will focus on building its organization in China to capture that huge and quickly emerging market opportunity.

“The specific turning point for us in 2015 is returning to a revenue growth profile after a multi-year declining revenue profile,” Davis said. “When you then add the opportunity for starting to deliver aggressive growth in the China market, this can be an exciting year for (MicroPort Orthopedics).”

Three big medical device makers (Smith & Nephew, Medtronic, and Wright Medical) call Memphis home already and Davis said “we have been able to establish MPO as the fourth.”  

“The workforce development focus of the (Greater Memphis Chamber) within medical technology is very important to (MicropPort Orthopedics),” Davis said. “As we continue to grow our technical, production and quality organizations, we need team members that come with technical skills enabling them to contribute immediately.”


Story by: Toby Sells
Photo by: Troy Glasgow
Posted: 4/14/2015 11:23:05 AM | with 0 comments
Filed under: 10, Business, Crossroads, Memphis, MicroPort, Orthopedics, to, Watch



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THE M BLOG
The latest news from the Greater Memphis Chamber. For more information, contact Director of Communications Christina Meek at (901) 543-3504 (cmeek@memphischamber.com) or Communications Specialist Jenny C. Fish at (901) 543-3558 (jfish@memphischamber.com).

 

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