2019 annual report
AP-014156A_01-Sep-2020_Annual Report 2019.indd 2 | 9/2/2020 1:23:41 PM |
Corporate Overview
Wright Medical Group N.V. is a global medical device company focused on Extremities and Biologics. The company is committed
to delivering innovative, value-added solutions improving the quality of life for patients worldwide. We are a recognized leader of surgical solutions for the upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics markets, three of the fastest growing segments in orthopaedics.
Our ordinary shares are traded on the Nasdaq Global Select Market under the symbol "WMGI".
Our Vision
Your First Choice in Extremities and Biologics
Our Mission
We focus on Extremities and Biologics.
Through our team of passionate and dedicated people, we deliver innovative, value-added solutions improving quality of life for patients worldwide.
We are committed to compliance and the highest standards of ethical conduct.
Our Values
- Think Customer
- Enable Change
- Alignment
- eMpowerment
- Sustainability
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
- ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 29, 2019 or
- TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from | to |
Commission file number: 001-35065
WRIGHT MEDICAL GROUP N.V.
(Exact name of registrant as specified in its charter)
The Netherlands | 98-0509600 |
(State or other jurisdiction | (I.R.S. Employer |
of incorporation or organization) | Identification No.) |
Prins Bernhardplein 200 | None |
1097 JB Amsterdam, The Netherlands | (Zip Code) |
(Address of principal executive offices) |
Registrant's telephone number, including area code: (+31) 20 521 4777
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Ordinary shares, par value €0.03 per share | WMGI | Nasdaq Global Select Market |
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to
such filing requirements for the past 90 days. | Yes No |
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer | Accelerated filer |
Non-accelerated filer | Smaller reporting company |
Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No
The aggregate market value of the ordinary shares held by non-affiliates of the registrant on June 30, 2019 was $3.7 billion based on the closing sale price of the ordinary shares on that date, as reported by the Nasdaq Global Select Market. For purposes of the foregoing calculation only, the registrant has assumed that all executive officers and directors of the registrant, and their affiliated entities, are affiliates.
As of February 20, 2020, there were 128,733,780 ordinary shares outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Part III of this Annual Report on Form 10-K incorporates by reference certain portions of the registrant's definitive proxy statement for its Extraordinary General Meeting of Shareholders ("Proxy Statement") anticipated to be filed with the Securities and Exchange Commission not later than 120 days after the end of the fiscal year covered by this report. Except as expressly incorporated by reference, the registrant's Proxy Statement shall not be deemed to be part of this report.
WRIGHT MEDICAL GROUP N.V. | ||
ANNUAL REPORT ON FORM 10-K | ||
Table of Contents | ||
PART I ............................................................................................................................................................................................ | 4 | |
Item 1. | Business................................................................................................................................................................. | 4 |
Item 1A. | Risk Factors.......................................................................................................................................................... | 17 |
Item 1B. | Unresolved Staff Comments................................................................................................................................. | 42 |
Item 2. | Properties.............................................................................................................................................................. | 42 |
Item 3. | Legal Proceedings. ............................................................................................................................................... | 43 |
PART II.......................................................................................................................................................................................... | 46 | |
Item 5. | Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity | |
Securities. ............................................................................................................................................................. | 46 | |
Item 6. | Selected Financial Data. ....................................................................................................................................... | 48 |
Item 7. | Management's Discussion and Analysis of Financial Condition and Results of Operations. .............................. | 49 |
Item 7A. | Quantitative and Qualitative Disclosures About Market Risk. ............................................................................. | 70 |
Item 8. | Financial Statements and Supplementary Data. ................................................................................................... | 75 |
Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. ............................ | 124 |
Item 9A. | Controls and Procedures..................................................................................................................................... | 124 |
Item 9B. | Other Information............................................................................................................................................... | 124 |
PART III ...................................................................................................................................................................................... | 125 | |
Item 10. | Directors, Executive Officers and Corporate Governance.................................................................................. | 125 |
Item 11. | Executive Compensation. ................................................................................................................................... | 125 |
Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. .......... | 125 |
Item 13. | Certain Relationships and Related Transactions, and Director Independence.................................................... | 125 |
Item 14. | Exhibits, Financial Statement Schedules. ........................................................................................................... | 125 |
PART IV ...................................................................................................................................................................................... | 126 | |
Item 15. | Exhibits, Financial Statement Schedules. ........................................................................................................... | 126 |
Item 16. | Form 10-K Summary. ......................................................................................................................................... | 135 |
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Wright Medical Group NV published this content on 18 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2020 21:24:06 UTC