Wright makes Q2 loss as expenses rise
This article was originally published in Clinica
Executive Summary
Wright Medical’s second-quarter sales were in line, but “expenses were high as Wright is incurring the cost burden of being a smaller stand-alone company,” according to Jefferies analyst Raj Denhoy. In June, Wright decided to focus on its extremities business, offloading its OrthoRecon unit to Chinese company MicroPort Medical for $290 million (www.clinica.co.uk, 20 June 2013).