Name Reinhold Schmieding Nationality American Net worth 4.3 billion USD (2015) | Spouse(s) married Children 2 | |
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Full Name Reinhold D. Schmieding Occupation Founder and CEO, Arthrex Known for Owner of 95% of Arthrex | ||
Reinhold schmieding 2016
Reinhold D. Schmieding (born 1955/56) is an American billionaire businessman, the founder and CEO of Arthrex.
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Early life
He was born in Michigan, the son of a dentist, his parents having emigrated from Germany six months prior to his birth. He was educated at Michigan State University from 1973-77.
Career
From 1981-85, he worked for Med Tech International, Westport, Connecticut.
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 fold-out table in his small apartment in the Olympic Village.
Later, the company was renamed as Arthrex Inc.
Currently, Arthrex distributes its products to more than 90 countries worldwide. It has subsidiaries throughout Europe, including Germany, Austria, Belgium, England and France. In 1991, the headquarters shifted to Naples, Florida. From then, the company has grown from two employees to over 2000. In 2015, Arthrex Inc. was named as one of Fortune 100 Best Companies to Work For.
Personal life
He is married with two children and lives in Naples, Florida.