Wright Medical 8-K Global extremities and international recon growth and operating margin expansion drive 17% adjusted earnings per share growth

Exhibit 99

FOR RELEASE 3:00 P.M. CENTRAL
Monday, August 2, 2010
Contact: Lance Berry
(901) 867-4607

Wright Medical Group, Inc. Reports Results for Second
Quarter Ended June 30, 2010

Global extremities and international recon growth and operating margin expansion drive 17% adjusted earnings per share growth

ARLINGTON, TN — August 2, 2010 — Wright Medical Group, Inc. (NASDAQ: WMGI), a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and ankle market, today reported financial results for its second quarter ended June 30, 2010.

Net sales totaled $127.7 million during the second quarter ended June 30, 2010, representing a 7% increase over net sales of $118.9 million during the second quarter of 2009. Foreign currency did not have a significant impact on sales results for the second quarter of 2010 as compared to the second quarter of 2009.

Net income for the second quarter of 2010 totaled $4.8 million or $0.13 per diluted share, compared to net income of $2.4 million or $0.06 per diluted share in the second quarter of 2009.

Net income for the second quarter of 2010 included the after-tax effects of approximately $4.1 million of non-cash stock-based compensation expense, $606,000 of expenses related to the ongoing U.S. governmental inquiry, and $461,000 of restructuring charges. Net income for the second quarter of 2009 included the after-tax effects of approximately $4.1 million of non-cash stock-based compensation expense, $2.0 million of expenses related to the ongoing U.S. governmental inquiries, and $794,000 of restructuring charges related to the previously announced closure of the Company’s Toulon, France operations.

Second quarter net income, as adjusted, increased 17% to $8.3 million in 2010 from $7.1 million in 2009, while diluted earnings per share, as adjusted, increased to $0.21 in the second quarter of 2010 from $0.18 in the second quarter of 2009. A reconciliation of U.S. GAAP to “as adjusted” results is included in the attached financial tables.

Gary D. Henley, President and Chief Executive Officer commented, “We are very pleased with the performance of the business this quarter, led by strong revenue growth in our global extremities and international hip and knee businesses. Additionally, we continued to execute well operationally, evidenced by 100 basis points of operating margin expansion and $7.2 million of free cash flow for the quarter.”

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Outlook

The Company’s earnings target, as communicated in the guidance range stated below, excludes the effect of possible future acquisitions, other material future business developments, non-cash stock-based compensation expense, restructuring charges, and costs associated with the Company’s ongoing U.S. governmental inquiry.

The Company is reiterating its previously-communicated as-adjusted earnings per share outlook, representing a target range for the full year 2010 of $0.88 to $0.94 per diluted share, reflecting growth of 4% to 11%, as well as its 2010 net sales outlook of $515 million to $530 million, representing growth of 6% to 9%.

As noted above, the Company’s earnings target excludes the impact of non-cash stock based compensation charges as well as the impact of restructuring charges. While the amount of the non-cash stock-based compensation charges will vary depending upon a number of factors, many of which are not within the Company’s control, the Company currently estimates that the after-tax impact of those expenses will range from $0.20 to $0.24 per diluted share for the full year 2010. With regard to restructuring charges, the Company expects total pre-tax charges related to the closing of the Toulon facilities to be in a range of approximately $28 million to $30 million, of which $27.4 million have been incurred to date. We have concluded our restructuring efforts in Creteil, France, incurring a cumulative total of $2.8 million of expenses.

The Company’s anticipated targets for net sales, adjusted earnings per share, stock-based compensation charges, and restructuring charges are forward-looking statements. They are subject to various risks and uncertainties that could cause the Company’s actual results to differ materially from the anticipated targets. The anticipated targets are not predictions of the Company’s actual performance. See the cautionary information about forward-looking statements in the “Safe-Harbor Statement” section of this press release.

Conference Call

As previously announced, the Company will host a conference call starting at 3:30 p.m. (Central Time) today. The live dial-in number for the call is 800-299-7635 (domestic) or 617-786-2901 (international). The participant passcode for the call is “wright.” To access a simultaneous webcast of the conference call via the internet, go to the “Corporate — Investor Info” section of the Company’s website located at www.wmt.com. A replay of the conference call by telephone will be available starting at 6:30 p.m. (Central Time) today and continuing until August 9, 2010. To hear this replay, dial 888-286-8010 (domestic) or 617-801-6888 (international) and enter the passcode 52150530. A replay of the conference call will also be available via the internet starting today and continuing for at least 12 months. To access a replay of the conference call via the internet, go to the “Corporate — Investor Info — Audio Archives” section of the Company’s website located at www.wmt.com.

The conference call may include a discussion of non-GAAP financial measures. Reference is made to the most directly comparable GAAP financial measures, the reconciliation of the differences between the two financial measures, and the other information included in this press release, our Form 8-K filed with the SEC today, or otherwise available in the “Corporate — Investor Info — Supplemental Financial Information” section of the Company’s website located atwww.wmt.com.

The conference call may include forward-looking statements. See the cautionary information about forward-looking statements in the “Safe-Harbor Statement” section of this press release.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, such as net sales, excluding the impact of foreign currency, operating income, as adjusted, net income, as adjusted, net income, as adjusted, per diluted share, effective tax rate, as adjusted, and free cash flow. The Company’s management believes that the presentation of these measures provides useful information to investors. These measures may assist investors in evaluating the Company’s operations, period over period. The measures exclude such items as business development activities, including purchased in-process research and development, the financial impact of significant litigation, costs related to the on-going U.S. governmental inquiries, restructuring charges and non-cash stock-based expense, all of which may be highly variable, difficult to predict and of a size that could have substantial impact on the Company’s reported results of operations for a period. Management uses these measures internally for evaluation of the performance of the business, including the allocation of resources and the evaluation of results relative to employee performance

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compensation targets. Investors should consider these non-GAAP measures only as a supplement to, not as a substitute for or as superior to, measures of financial performance prepared in accordance with GAAP.

Safe-Harbor Statement

This press release contains “forward-looking statements” as defined under U.S. federal securities laws. These statements reflect management’s current knowledge, assumptions, beliefs, estimates, and expectations and express management’s current views of future performance, results, and trends and 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 our actual results to materially differ from those described in the forward-looking statements. Such risks and uncertainties include those 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, 2009, under the heading “Risk Factors” and our subsequently filed Exchange Act reports). Readers 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.

Wright Medical Group, Inc. is a global orthopaedic medical device company specializing in the design, manufacture and marketing of devices and biologic products for the extremity, hip and knee repair and reconstruction. The Company is a leading provider of surgical solutions for the foot and ankle market. The Company has been in business for more than 50 years and markets its products in over 60 countries worldwide. For more information about Wright Medical, visit the Company’s website atwww.wmt.com.

—Tables Follow—

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Wright Medical Group, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data—unaudited)

	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2010			2009			2010			2009
Net sales	$	127,734		$	118,926		$	258,978		$	239,838
Cost of sales		39,934			36,745			80,075			74,766
Gross profit		87,800			82,181			178,903			165,072
Operating expenses:
Selling, general and administrative		67,774			65,821			144,212			132,430
Research and development		9,784			9,017			19,619			17,923
Amortization of intangible assets		634			1,308			1,283			2,625
Restructuring charges		461			794			1,005			860
Total operating expenses		78,653			76,940			166,119			153,838
Operating income		9,147			5,241			12,784			11,234
Interest expense, net		1,510			1,286			3,018			2,539
Other income, net		(175	)		(103	)		(43	)		(466	)
Income before income taxes		7,812			4,058			9,809			9,161
Provision for income taxes		2,965			1,631			5,487			3,417
Net income	$	4,847		$	2,427		$	4,322		$	5,744
Net income per share, basic	$	0.13		$	0.07		$	0.11		$	0.15
Net income per share, diluted	$	0.13		$	0.06		$	0.11		$	0.15
Weighted-average number of common shares outstanding, basic		37,764			37,332			37,652			37,281
Weighted-average number of common shares outstanding, diluted		37,960			37,404			37,884			37,362

Wright Medical Group, Inc.
Consolidated Sales Analysis
(dollars in thousands—unaudited)

	Three Months Ended							Six Months Ended
	June 30,		June 30,		%			June 30,		June 30,		%
	2010		2009		change			2010		2009		change
Geographic
Domestic	$	76,484	$	73,147		4.6	%	$	154,209	$	147,500		4.5	%
International		51,250		45,779		12.0	%		104,769		92,338		13.5	%
Total net sales	$	127,734	$	118,926		7.4	%	$	258,978	$	239,838		8.0	%
Product Line
Hip products	$	44,177	$	41,061		7.6	%	$	90,462	$	82,975		9.0	%
Knee products		31,775		30,225		5.1	%		64,193		60,613		5.9	%
Extremity products		29,509		25,629		15.1	%		59,613		51,570		15.6	%
Biologics products		19,838		19,464		1.9	%		39,630		39,235		1.0	%
Other		2,435		2,547		(4.4	%)		5,080		5,445		(6.7	%)
Total net sales	$	127,734	$	118,926		7.4	%	$	258,978	$	239,838		8.0	%

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Wright Medical Group, Inc.
Supplemental Sales Information
(unaudited)

	Second Quarter 2010 Sales Growth
	Domestic			Int’l			Int’l			Total			Total
	As			Constant			As			Constant			As
	Reported			Currency			Reported			Currency			Reported
Hips		2	%		12	%		12	%		7	%		8	%
Knees		1	%		11	%		11	%		6	%		5	%
Extremities		13	%		25	%		25	%		15	%		15	%
Biologics		1	%		7	%		10	%		2	%		2	%
Total		5	%		12	%		12	%		7	%		7	%

	Sales as a % of Total Sales
	Three Months Ended									Six Months Ended
	June 30, 2010									June 30, 2010
	Domestic			International			Total			Domestic			International			Total
Hips		15	%		20	%		35	%		15	%		20	%		35	%
Knees		13	%		12	%		25	%		13	%		12	%		25	%
Extremities		19	%		4	%		23	%		19	%		4	%		23	%
Biologics		13	%		3	%		16	%		13	%		3	%		15	%
Total		60	%		40	%		100	%		60	%		40	%		100	%

Wright Medical Group, Inc.
Reconciliation of Net Sales to Net Sales Excluding the Impact of Foreign Currency
(dollars in thousands—unaudited)

	Three Months Ended				Six Months Ended
	June 30, 2010				June 30, 2010
	International		Total		International			Total
	Net Sales		Net Sales		Net Sales			Net Sales
Net sales, as reported	$	51,250	$	127,734	$	104,769		$	258,978
Currency impact as compared to prior period		83		83		(2,358	)		(2,358	)
Net sales, excluding the impact of foreign currency	$	51,333	$	127,817	$	102,411		$	256,620

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Wright Medical Group, Inc.
Reconciliation of As Reported Results to Non-GAAP Financial Measures
(in thousands, except per share data—unaudited)

	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2010			2009			2010			2009
Operating Income
Operating income, as reported	$	9,147		$	5,241		$	12,784		$	11,234
Reconciling items impacting Gross Profit:
Inventory step-up amortization		—			30			—			60
Non-cash, stock-based compensation		326			311			666			603
Total		326			341			666			663
Reconciling items impacting Selling, General and Administrative expenses:
Non-cash, stock-based compensation		3,172			3,204			5,439			5,305
U.S. governmental inquiries		606			2,007			8,677			6,074
Total		3,778			5,211			14,116			11,379
Reconciling items impacting Research and Development expenses:
Non-cash, stock-based compensation		610			565			1,008			960
Other Reconciling Items:
Restructuring charges		461			794			1,005			860
Operating income, as adjusted	$	14,322		$	12,152		$	29,579		$	25,096
Operating income, as adjusted, as a percentage of net sales		11.2	%		10.2	%		11.4	%		10.5	%

	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2010			2009			2010			2009
Net Income
Income before taxes, as reported	$	7,812		$	4,058		$	9,809		$	9,161
Pre-tax impact of reconciling items:
Non-cash, stock-based compensation		4,108			4,080			7,113			6,868
Restructuring charges		461			794			1,005			860
Inventory step-up amortization		—			30			—			60
U.S. governmental inquiries		606			2,007			8,677			6,074
Income before taxes, as adjusted		12,987			10,969			26,604			23,023
Provision for income taxes, as reported		2,965			1,631			5,487			3,417
Non-cash, stock-based compensation		1,314			1,164			2,150			2,037
Restructuring charges		180			309			391			335
Inventory step-up amortization		—			12			—			23
U.S. governmental inquiries		236			784			1,816			2,373
Provision for income taxes, as adjusted		4,695			3,900			9,844			8,185
Effective tax rate, as adjusted		36.2	%		35.6	%		37.0	%		35.6	%
Net income, as adjusted	$	8,292		$	7,069		$	16,760		$	14,838

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Wright Medical Group, Inc.
Reconciliation of As Reported Results to Non-GAAP Financial Measures
(continued)

	Three Months Ended				Three Months Ended
	June 30, 2010				June 30, 2009
	As Reported		As Adjusted		As Reported		As Adjusted
Basic net income	$	4,847	$	8,292	$	2,427	$	7,069
Interest expense on convertible notes		N/A		935		N/A		935
Diluted net income	$	4,847	$	9,227	$	2,427	$	8,004
Basic shares		37,764		37,764		37,332		37,332
Dilutive effect of stock options and restricted shares		196		196		72		72
Dilutive effect of convertible notes		N/A		6,126		N/A		6,126
Diluted shares		37,960		44,086		37,404		43,530
Net income per share, diluted	$	0.13	$	0.21	$	0.06	$	0.18

	Six Months Ended				Six Months Ended
	June 30, 2010				June 30, 2009
	As Reported		As Adjusted		As Reported		As Adjusted
Basic net income	$	4,322	$	16,760	$	5,744	$	14,838
Interest expense on convertible notes		N/A		1,870		N/A		1,870
Diluted net income	$	4,322	$	18,630	$	5,744	$	16,708
Basic shares		37,652		37,652		37,281		37,281
Dilutive effect of stock options and restricted shares		232		232		81		81
Dilutive effect of convertible notes		N/A		6,126		N/A		6,126
Diluted shares		37,884		44,010		37,362		43,488
Net income per share, diluted	$	0.11	$	0.42	$	0.15	$	0.38

	Three Months Ended						Six Months Ended
	June 30,			June 30,			June 30,			June 30,
	2010			2009			2010			2009
Net Income per Diluted Share
Net income, as reported, per diluted share	$	0.13		$	0.06		$	0.11		$	0.15
Interest expense on convertible notes		0.02			0.02			0.04			0.04
Dilutive effect of convertible notes		(0.02	)		(0.01	)		(0.02	)		(0.02	)
Non-cash, stock-based compensation		0.06			0.07			0.11			0.11
Restructuring charges		0.01			0.01			0.01			0.01
Inventory step-up amortization		—			0.00			—			0.00
U.S. governmental inquiries		0.01			0.03			0.16			0.09
Net income, as adjusted, per diluted share	$	0.21		$	0.18		$	0.42		$	0.38

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Wright Medical Group, Inc.
Condensed Consolidated Balance Sheets
(dollars in thousands—unaudited)

	June 30,		December 31,
	2010		2009
Assets
Current assets:
Cash and cash equivalents	$	99,320	$	84,409
Marketable securities		60,082		86,819
Accounts receivable, net		100,735		101,720
Inventories		164,875		163,535
Prepaid expenses and other current assets		48,997		54,121
Total current assets		474,009		490,604
Property, plant and equipment, net		142,735		139,708
Goodwill and intangible assets, net		69,496		71,587
Marketable securities		31,653		—
Other assets		12,648		12,385
Total assets	$	730,541	$	714,284
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	18,810	$	13,978
Accrued expenses and other current liabilities		61,621		54,643
Current portion of long-term obligations		348		336
Total current liabilities		80,779		68,957
Long-term obligations		200,190		200,326
Other liabilities		4,633		4,593
Total liabilities		285,602		273,876
Stockholders’ equity		444,939		440,408
Total liabilities and stockholders’ equity	$	730,541	$	714,284