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Wright Medical OrthoRecon sale to close early next month

Mon, 12/16/2013 - 12:23pm
Mass Device

Wright Medical expects early next month to close the books on the $270 million sale of its OrthoRecon business to China-based MicroPort Scientific Corp.

Wright Medical makes progress toward OrthoRecon sale

Tennessee orthopedics company Wright Medical (NSDQ:WMGI) is preparing to put a ribbon on the sale of its OrthoRecon business, a deal in the works wince June.

China-based MicroPort Scientific (HK:0853), which stands to gain a significant global presence with the OrthoRecon purchase, won clearance from the Hong Kong Stock Exchange to move forward with a Jan. 3, 2014, shareholder meeting to approve the transaction. Wright expects the deal to close less than a week later.

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