Wright Medical Technology history

In 1986 the company formed a plastic surgery division to produce and market a breast implant based on new technology.

An investment group led by Herbert W. Korthoff acquired Dow Corning Wright in 1993 and gave the company a new name, Wright Medical Technology. (Liability for silicone breast implants stayed with Dow Corning.) Korthoff and Kidd Kamm Equity Partners paid $70.5 million.

The intended acquisition of Advanced Spinal Fixations Systems fell through; through an agreement with BioMed, Inc. in August 1994, however, Wright gained worldwide distribution rights for a minimally invasive spinal discectomy system.

In November 1995 Richard D. Nikolaev, formerly president of Orthomet, became CEO and president of the company, taking over daily management while Korthoff, as chairman, focused on long-term goals.

Wright received FDA clearance for the sale of OsteoSet Bone Graft Substitute for use in bone voids and gaps in the extremities in August 1996.

In May 1997 Wright launched VERSALOK, a low back spinal fixation system providing an adaptable system for intraoperative flexibility and reversibility without set screws or locking nuts.

In September 1999, Warburg Pincus Equity Partners L.P. and the Vertical Group, Inc. acquired a majority interest in Wright Medical Technology, involving $25 million paid to reduce debt and provide working capital.

In October 2001 OsteoSet BVF (Bone Void Filler Kit) received FDA clearance for expanded claims, specifically, the injectability of the material and hardening properties inside the bone void or fracture site.