MicroPort relishes "startup" role

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Michael Sheffield

Ted Davis, CEO of MicroPort Orthopedics and John Matthews, vice president of global development for MicroPort Orthopedics during the 12th Annual Musculoskeletal New Ventures Conference

Michael Sheffield

Senior Staff writer- Memphis Business Journal

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While its former parent company made big news this week through a merger, MicroPort Orthopedics is still quietly getting on its feet as a separate company.

And after almost a year in business, Ted Davis, the company's CEO, likes where it's heading.

Davis moderated the final panel of the 12th annual Musculoskeletal New Ventures Conference and discussed the company's strategy when it first launched and how it stacks up against larger companies, including Wright Medical.

Once MicroPort Orthopedics was created from what was previously the OrthoRecon division of Wright Medical, Davis said the company became a startup, even if it was a startup with decades of history and 600 employees.

However, that focus allowed MicroPort to discover what its strengths were and how it could grow the hip and knee business.

"Wright is an innovative company, but there was a shift away from the hip and knee side," Davis said. "We don't have to build anything. We just have to be more efficient and have a strategy outside of marketing 100 products to 100 different people."

Mike Carroll, vice president of research and development for MicroPort, said the company needed to narrow its focus from more than 50 products at the time of the acquisition to "just a few" that met its needs in hip and knee implants. But they also needed to make sure they continued to develop new products that were attractive to customers.

Part of the company's strategy was contracting with Memphis-based MB Innovations to help design instruments for MicroPort's hip arthroplasty procedures.

Carroll said that strategy was practical, and it will be long-term.

Michael Sheffield covers bioscience and biotechnology; manufacturing; tourism and hospitality; and sports business. Contact him at msheffield@bizjournals.com.