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Wright Medical Group, Inc. Acquires EZ Frame External Fixator for the Foot

^{Published on 2010-10-28 14:05:45 - Market Wire}
 

ARLINGTON, Tenn.--([ BUSINESS WIRE ])--Wright Medical Group, Inc. (NASDAQ: WMGI), a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and ankle market, today announced the acquisition of certain assets of EZ Concept Surgical Device Corporation, specifically the patented EZ Frame external fixator for the foot. Terms of the transaction were not disclosed.

"In the field of Diabetic Charcot Reconstruction, there is an increasing trend to use external fixation because it stabilizes soft tissues which assists the treatment of foot ulcers."

The EZ Frame external fixator is a unique device that combines elements of a circular fixator for the foot with a full contact brace for the calf. Jim Orsak, Director of Marketing for External Fixation at Wright, commented, "In the field of Diabetic Charcot Reconstruction, there is an increasing trend to use external fixation because it stabilizes soft tissues which assists the treatment of foot ulcers.a

William P. Grant, D.P.M. of Virginia Beach, VA specializes in the care of the diabetic foot and noted, aIn the past, it was more common to amputate diabetic limbs that succumbed to micro-fractures and soft tissue wounds, but today there are many new treatment options, including the EZ Frame.a Dr. Grant is a member of the surgeon-inventor team who created the user-friendly EZ Frame after performing numerous procedures involving more complex, labor-intensive external fixators.

The EZ Frame external fixator adds to Wrighta™s expansive line of innovative solutions for foot and ankle procedures. The device will be available through Wrighta™s U.S. distribution network beginning in 2011.

This acquisition is expected to be approximately one cent dilutive to Wright's adjusted earnings during the fourth quarter of 2010 and slightly accretive to Wright's earnings thereafter. More information regarding the financial aspects of the transaction and its expected impact on Wright's future financial results will be provided in connection with Wright's conference call to discuss its third quarter 2010 financial results at 3:30 PM (Central Time) today.

Wright Medical Group, Inc. is a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and ankle market. Wright specializes in the design, manufacture and marketing of devices and biologic products for extremity, hip and knee repair and reconstruction. Wright has been in business for 60 years and markets its products in over 60 countries worldwide. For more information about Wright Medical, visit its website at [ www.wmt.com ].

This press release contains aforward-looking statementsa as defined under U.S. federal securities laws.These statements reflect managementa™s current knowledge, assumptions, beliefs, estimates, and expectations and express managementa™s current views of future performance, results, and trends and may be identified by their use of terms such as aanticipate,a abelieve,a acould,a aestimate,a aexpect,a aintend,a amay,a aplan,a apredict,a aproject,a awill,a and other similar terms.Forward-looking statements are subject to a number of risks and uncertainties that could cause our actual results to materially differ from those described in the forward-looking statements.Such risks and uncertainties include the impact of Wright's settlement of the federal investigation into Wright's consulting arrangements with orthopaedic surgeons relating to its hip and knee products in the United States, including Wright's compliance with a Deferred Prosecution Agreement through September2011 and a Corporate Integrity Agreement through September2015, and those risks and uncertainties discussed in our filings with the Securities and Exchange Commission (including those described in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2009, under the heading, aRisk Factorsa and in Item 1A of Part II of our 10-Qs filed during 2010) and the demand for and market acceptance of the EZ Frame external fixator.Readers should not place undue reliance on forward-looking statements.Such statements are made as of the date of this press release, and we undertake no obligation to update such statements after this date.