ARLINGTON, Tenn.--(BUSINESS WIRE)--Wright Medical Group, Inc. (NASDAQ: WMGI) today reported it has been advised by MicroPort Scientific Corporation (HK: 0853) that the Hong Kong Stock Exchange has granted clearance of the disclosure circular required in connection with its shareholder meeting to approve the acquisition of Wright’s OrthoRecon business, and that MicroPort has, accordingly, scheduled a shareholder meeting to approve the transaction for January 3, 2014.
Voting agreements were previously executed with shareholders of MicroPort holding greater than the required voting shares needed to approve the transaction. Wright now expects the closing of the transaction to occur on or about January 9, 2014.
Following the close of the transaction, the Company plans to provide additional details regarding the financial impact of the transaction and 2014 financial guidance on its fourth quarter 2013 conference call, which is currently scheduled for February 24, 2014.
About Wright Medical
Wright Medical Group, Inc. is a specialty orthopaedic company that provides extremity and biologic solutions that enable clinicians to alleviate pain and restore their patients’ lifestyles. The company is the recognized leader of surgical solutions for the foot and ankle market and markets its products worldwide. For more information about Wright Medical, visit www.wmt.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” as defined under U.S. federal securities laws, concerning, among other things, the anticipated approval and closing of the previously announced agreement to sell our OrthoRecon business to MicroPort Medical, B.V. These statements reflect management's current knowledge, assumptions, beliefs, estimates, and expectations and express management's current view of future performance, results, and trends. Forward-looking statements may be identified by their use of terms such as anticipate, believe, could, estimate, expect, intend, may, plan, predict, project, will, and other similar terms. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to materially differ from those described in the forward-looking statements. These risks and uncertainties include the failure of MicroPort shareholders to approve the acquisition of our OrthoRecon business, or the failure to do so on or about the expected date, and/or the failure of the transaction to close for any reason, and/or the failure to close on or about the anticipated closing date. The reader 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. Other risks and uncertainties that could cause our actual results to materially differ from those described in forward-looking statements are 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, 2012, and as may be supplemented in our Quarterly Reports on Form 10-Q).