Reinhold Schmieding

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

Reinhold Schmieding
Born
Reinhold D. Schmieding

1955/1956 (age 64–65)[1]
Michigan, U.S.
NationalityAmerican
EducationMichigan State University
OccupationBusinessman
Known forOwner of 95% of Arthrex
Net worthUS$6.7 billion (November 2019)[2]
TitleFounder and CEO, Arthrex
Children2

Early life

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 to 1977.[1] Schmieding was a member of the Delta Chi fraternity.[4]

Career

From 1981 to 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 his apartment in the Olympic Village.[5]

Later, 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.[6] 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.[7]

Schmieding received an honorary doctorate from Florida Gulf Coast University in 2018.[8]

Personal life

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

References
  1. "Reinhold D. Schmieding". Bloomberg. Retrieved 21 February 2015.
  2. "Reinhold Schmieding". Forbes. Retrieved 15 November 2019.
  3. "An Interview with Reinhold Schmieding, President & Founder of Arthrex, Inc". Naples Chamber. Retrieved 21 February 2015.
  4. Rocha, Humberto J. "See Which Fraternities Have The Most Billionaire Alumni On The Forbes 400". Forbes.
  5. "Arthrex history and details". marconews.com. Retrieved 2 December 2018.
  6. "Arthrex growth". marconews.com. Retrieved 2 December 2018.
  7. "Arthrex". Fortune. 2015-03-05. Retrieved 2019-04-16.
  8. "FGCU presents honorary doctorate to Arthrex founder Reinhold Schmieding | Naples Florida Weekly". naples.floridaweekly.com. Retrieved 2018-12-02.


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