Reinhold Schmieding

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Reinhold Schmieding
Born
Reinhold D. Schmieding

1955/1956 (age 63–64)[1]
Michigan, US
ResidenceNaples, Florida, US
NationalityAmerican
EducationMichigan State University
OccupationFounder and CEO, Arthrex
Known forOwner of 95% of Arthrex
Net worth$5.2 billion (May 2017)[2]
Spouse(s)married
Children2

Reinhold D. Schmieding (born 1955/56) is an American billionaire businessman and the founder and CEO of Arthrex.

Early life[edit]

Schmieding was born in Michigan, the son of a dentist.[2] His parents emigrated from Germany six months prior to his birth.[3] He was educated at Michigan State University from 1973–1977.[1]

Career[edit]

From 1981–1985, Schmieding worked for Med Tech International in Westport, Connecticut.[1]

In 1981, Schmieding started a medical device company called Arthroscopy Excision Instruments Inc., which focused on an emerging procedure known as arthroscopy. The initial investment was $60,000 from Schmieding's personal savings. After starting the company, Schmieding did not make a profit for the first two years. He ran his company from a his apartment in the Olympic Village.[4]

Later,[when?] the company was renamed as Arthrex Inc.

Arthrex distributes its products to more than 90 countries worldwide. It has subsidiaries throughout Europe, including Germany, Austria, Belgium, England and France.[5] In 1991, the headquarters shifted to Naples, Florida. Since then, the company has grown from two employees to over 2000. In 2015, Arthrex was listed at number 94 on Fortune's 100 Best Companies to Work For.[6]

Schmieding received an honorary doctorate from Florida Gulf Coast University in 2018.[7]

Personal life[edit]

He is married with two children and lives in Naples, Florida.[2]

References[edit]

  1. ^ a b c "Reinhold D. Schmieding". Bloomberg. Retrieved 21 February 2015.
  2. ^ a b c "Reinhold Schmieding". Forbes. Retrieved 22 May 2017.
  3. ^ "An Interview with Reinhold Schmieding, President & Founder of Arthrex, Inc". Naples Chamber. Retrieved 21 February 2015.
  4. ^ "Arthrex history and details". marconews.com. Retrieved 2 December 2018.
  5. ^ "Arthrex growth". marconews.com. Retrieved 2 December 2018.
  6. ^ "Arthrex". Fortune. 2015-03-05. Retrieved 2019-04-16.
  7. ^ "FGCU presents honorary doctorate to Arthrex founder Reinhold Schmieding | Naples Florida Weekly". naples.floridaweekly.com. Retrieved 2018-12-02.