Wright Medical Group, NV (NASDAQ:WMGI) is a global orthopedic medical device company focused on upper/lower extremities and biologics. The company underperformed as it suffered disruption from a sizable sales force expansion that ultimately resulted in the company reducing earnings guidance. While it is taking much longer for the new sales representatives to reach full productivity, the 50% increase in the size of the salesforce will ultimately be beneficial for the company as it results in accelerating sales and earnings growth.
From the Keeley All Cap Value Fund fourth quarter 2017 shareholder letter.
