Arthrex survived its first decade with home offices in Munich and
eventually a world headquarters in Naples, Florida. More than twelve
years after its founding, Arthrex began producing its first medical implant,
the specialized titanium “interference” screw used in knee ACL
reconstruction. This ushered in a tsunami of implants since 1993, and in
the last twenty-five years a dazzling lineup of implants for every joint in
the human body has been developed by Arthrex. Rotator cuff repairs, ACL
reconstructions, shoulder stabilizations, fracture management, ankle
ligament repairs, and over ten thousand other implants and techniques are
all addressed with Arthrex devices.
So dominant is Arthrex’s place in the sports medicine world, it has
become obvious to me that it is now impossible to turn on any NFL, NBA,
MLB, or NHL game and not see an athlete who has an Arthrex implant in
his body. I ask Reinhold how he feels about this, and he tells me, “I feel
really lucky that I came along when I did. It is obvious to me that I was
perfectly prepared for this, for the founding and nurturing of Arthrex. I
enjoy strategy, leadership, service, and medicine ... and when presented
with a challenge, can rapidly see the solutions in my head. (In the early
days) when we struggled, it was my sense of survival and tenacity that kept
us afloat, and I am humbled more than ever to work hard to help surgeons
treat their patients better.”
I am eager to tell Reinhold Schmieding my big observation, based on
years of analysis and calculations. While there are medical companies
with higher annual revenues, like General Electric’s healthcare division
(which does not develop implantable devices), most medical implant
companies build revenue through costly, big ticket items like total hip
implants and pacemakers. Additionally, among all of the largest
orthopedic implant companies, the reigning CEOs have been at the helm
less than five years. There is no other major medical device company that
is privately held, and certainly not by the founder of a company that is
almost forty years old.
Because Arthrex has so many thousands of implants, almost all of which
are permanent, and not degradable, and due to Schmieding’s
unprecedented tenure, including the last twenty-five years of incredibly
high-volume implant manufacturing, there is one stunning conclusion.
There is not another individual on earth who has personally overseen the
design, manufacturing, and distribution of so many medical devices that
marcin
(Marcin)
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