$3.2 Billion*
Prior Fiscal: $3.2 Billion*
Percentage Change: 0%
No. of Employees: 7,000
Global Headquarters: Naples, Fla.

*based on a Forbes estimate

It was almost as if he’d never left.

Tarik Skubal’s first pitch of the game was a blazing 97.9 mph sinker that Cleveland Guardians left fielder Angel Martinez fouled off his right foot. Martinez chopped the next pitch to Tigers first baseman Spencer Torkelson for the first out.

The rest of the first inning was uneventful, save for Guardians outfielder Chase DeLauter’s line-drive single to left field on a 100-mph heater.

The rust began showing the following inning as Skubal gave up a one-out single and then hit Guardians right fielder Stuart Fairchild. A double and two-run homer in the third put the Guardians ahead 3-1.

Skubal left the game late in the fourth inning at the 80-pitch mark; he allowed five hits and three runs (two earned) while striking out four and hitting one batter.

A subpar performance by Skubal’s standards.

But an impressive one for an athlete five weeks removed from arthroscopic elbow surgery.

This past spring, Skubal became the first (known) MLB player to undergo an emerging treatment for one of baseball’s most frustrating pitching injuries. The two-time Cy Young Award winner had loose cartilage removed from his left elbow in May using a miniaturized, flexible arthroscope called NanoNeedle scope 2.0.

Developed by Naples, Fla.-based Arthrex, the NanoNeedle scope 2.0 offers surgeons a minimally invasive alternative to traditional arthroscopy. The 1.9-mm diameter scope is about 60% smaller than a traditional arthroscope but features a 720 x 720 sensor that provides a 224% increase in pixel resolution and more than three times the pixel density than the second-generation device.

NanoNeedle scope 2.0 currently works with the Arthrex Synergy Vision system and is engineered for use in thoracic, laparoscopic, and endoscopic procedures. The device received U.S. Food and Drug Administration clearance for pediatric use in March 2025 and made its clinical debut four months later, treating a 13-year-old baseball player with a labrum tear.

Kyle Anderson, M.D., an orthopedic surgeon who performed the first NanoNeedle scope 2.0 procedure, called the technology a “fundamental shift” to minimally invasive arthroscopic treatment for sports injuries. “We are at the beginning of an exciting era in sports medicine,” he said, “where we can be ultra-minimally invasive because of what Nano technology can do.”

The technology thus far has dramatically improved recovery times for injured athletes: Los Angeles Dodgers pitcher Blake Snell began throwing a baseball less than three weeks after undergoing elbow surgery with the NanoNeedle scope 2.0; Skubal was back on the mound 38 days after his Nano procedure; and Winnipeg Jets goaltender/Olympic gold medalist Connor Hellebuyck returned to the ice within two weeks of his torn meniscus Nano surgery.

Analyst Insight: “Arthrex is the great contrarian here—a fiercely private, founder-led sports-medicine pioneer that has always grown through relentless innovation and surgeon education rather than M&A. Therefore, the ~ $330 million acquisition of U.K.-based Corin is a striking departure, vaulting Arthrex into total joints (hips and knees) and robotic-assisted reconstruction overnight, with the intriguing twist regarding whether Corin will be integrated or left separate by Arthrex founder-owner Reinhold Schmieding. For a company that ‘never buys,’ that’s a signal worth watching.”

—Dave Sheppard, Co-Founder and Managing Director, MedWorld Advisors

“The nature of the procedure is one thing but the timing is the other,” Skubal’s surgeon Neal ElAttrache, M.D., team doctor for the Los Angeles Dodgers and NFK’s Los Angeles Rams, told USA Today in June this year. “The things you develop to help these famous athletes end up helping the masses.”

Some of those things also end up helping the developer itself. The NanoNeedle’s clinical debut and subsequent adoption in professional sports propelled both the device and Arthrex into the national spotlight. Reports about the procedure and its accelerated recovery time were featured in newspapers (USA Today included), on ESPN.com, “Pardon the Interruption,” and Buster Olney’s daily podcast “Baseball Tonight” (where Skubal’s agent Scott Boras dubbed Arthrex’s device the “Skubal scope”).

All the publicity will likely be good for business, though its full impact will be difficult to assess. As a private company, Arthrex is not required to publicly disclose its finances, so any correlation between mainstream media coverage of the NanoNeedle scope 2.0 and the company’s overall fiscal standing would be purely speculative.

Without public earnings reports, Arthrex’s financial health is difficult, if not impossible, to assess. Forbes estimates the company grossed $3.2 billion in 2025 sales­—an amount that’s purportedly held steady for the past three years. But that calculation is based on an investigative financial modeling process rather than official disclosures.

Arthrex Founder/President Reinhold Schmieding—who apparently owns 95% of the company—is no less guarded than the company’s financial disclosures. The notoriously press-shy billionaire rarely grants interviews to mainstream or trade media, preferring instead to discuss orthopedic-related matters with company-connected representatives.

Case in point: Last fall Schmieding spoke to Arthrex faculty surgeon Brian Waterman, M.D. (Wake Forest, N.C.), for the American Shoulder and Elbow Surgeons Society podcast. Schmieding discussed the company’s origins, its mission, and the future of arthroscopy and shoulder/elbow care as well as the future of medicine and operating rooms. He also touched on Arthrex’s upper extremities and shoulder arthroplasty portfolios and future innovations that advance minimally invasive surgery.

Schmieding’s interview was among the more than 50 non-financial news items the company was willing to share with the public last year. Most of the stories focused on Arthrex solutions and their impact on patients’ lives, but there were a few exceptions.

In January, for instance, Arthrex announced plans to build a new logistics center on the north side of the Southwest Florida International Airport runway. Located adjacent to FedEx and UPS, the 1 million square-foot building will allow the company to combine all components of its logistics operations into one facility.

The following month, Arthrex debuted a new Instagram (Arthrex Athlete) that features the stories and successes of collegiate and professional sportspersons who maintain their athletic prowess with the company’s solutions. That initiative, however, seemed somewhat redundant, as Arthrex regularly shared news stories about its products’ role in athletic injury recovery.

The narratives ranged from Chicago Bulls guard Lonzo Ball’s career-saving left knee meniscus and cartilage transplant (via the Arthrex Allograft OATS technique) and Atlanta Braves pitcher Spencer Strider’s recovery from elbow surgery (Arthrex UCL Internal Brace system) to Denver Broncos running back J.K. Dobbins’ torn Achilles tendon repair (the Achilles Midsubstance SpeedBridge Technique)  and Baltimore Ravens long snapper Nick Moore’s ruptured Achilles tendon (the Arthrex PARS Achilles Jig System with SutureTape).

In June, Arthrex launched Synergy Power, a versatile battery-powered system for various orthopedic applications, and then in December, the company marked the first salable sterilization runs at its new X-ray sterilization facility and announced the construction of an additional radiation-based sterilization building to support future growth.

The Arthrex Manufacturing Inc. X-ray (AMIX) facility in South Carolina supports both X-ray and electron beam sterilization. “This achievement marks the beginning of a new era for Arthrex,” Arthrex Manufacturing Sterilization Engineering Senior Manager Zach Dukerich stated in a news release. “Our priority is transitioning products to X-ray processing and continuing to expand our capabilities to support future growth.”

To further support demand and ensure long-term capacity for radiation-based sterilization methods, Arthrex broke ground last year on a new sterilization facility on the Arthrex Manufacturing Inc. South Carolina campus. The building will complement existing operations and expand the company’s ability to process devices that require specific radiation modalities based on their design or material characteristics.

$3.2 Billion*
Prior Fiscal: $3.2 Billion*
Percentage Change: 0%
No. of Employees: 10,000
Global Headquarters: Naples, Fla.
*based on a Forbes estimate

New innovation can be accompanied by mockery, skepticism, and doubt. Understandably, most people do not want to be told something that contradicts everything they’ve known or understood. As such, there’s an uphill battle for innovation to be accepted and recognized as a better method or technology than the current standard.

With this in mind, it’s no surprise so many were suspicious of the seemingly impossible timelines provided for Aaron Rodgers’ recovery from a torn Achilles tendon during his season debut as a New York Jet in 2023. This was fully covered in last year’s Arthrex report as part of the 2024 ODT Top Company reports.

Amazing what a couple of years will do following the success story that ultimately was Aaron Rodgers’ return to the field.

When NBA superstar Jason Tatum went down with the same injury in Game 4 of a playoff series against the New York Knicks, Dr. Martin O’Malley performed the surgical repair. Known as a proponent and user of the Arthrex SpeedBridge solution—the same device used for Aaron Rodgers—it is speculated he used the technology to repair Tatum’s injury.

Following the injury, Forbes spoke with Dr. Kevin R. Stone, an orthopedic surgeon at The Stone Clinic. He shared insights on the new information being realized regarding these types of injuries, which had once been career-ending for professional athletes.

“We’ve learned over the last few years that very early motion and rehabilitation accelerate the healing,” explained Dr. Stone. “It doesn’t slow down the healing. It doesn’t damage the repair. And so the sooner you have the injury, the sooner you have the repair. And then the sooner you start your recovery, physical therapy, in our hands, that’s the next day after injury and surgery, the faster you recover and the better you do.”

At the time of Tatum’s injury, Dr. O’Malley was about 15 minutes away.

Brad Stevens, Celtics president of basketball operations, offered insight on how quickly things moved between the team and Dr. O’Malley. “Dr. Schena [Celtics team physician] was on the phone with him before we left the building on Monday night, and he was out of the MRI, in consultation, and done with surgery by the time we had an injury report the next day because there was [a] real benefit to doing it early.”

On its website, Arthrex mentioned this type of technology isn’t just for elite athletes. Rather, the device has been used for more than 50,000 patients.

The company is taking the same type of approach for ACL repairs. While young athletes don’t generate the headlines a surgical repair for the likes of Rodgers or Tatum does, they are no less important for those in the early stages of their athletic journey.

The company shared research that showed ACL reconstruction (ACLR) using its InternalBrace technique offers an effective solution to combat reinjuries for young athletes. Patrick A. Smith, M.D., of Naples, Fla., a specialist in adolescent ACLR and ACL repair using the InternalBrace technique, and colleagues found an 88% reduction in the risk of ACL retears for younger patients who received the InternalBrace technique (1%) compared to those whose procedures did not include the technique (8%).  The outcomes were assessed at a minimum of two years in one study and five years in another.

FROM THE TOP: “As a private company, we are dedicated to compliant business practices based solely on advancing medicine and have experienced unprecedented growth without compromising our ethics and integrity. We have earned our reputation as a trustworthy partner, and that is the legacy of Arthrex that will continue into the future.”

—Reinhold Schmieding, President and Founder

According to the National ACL Injury Coalition, ACL injuries among high school athletes have surged by nearly 26% over the past 15 years. The company established a non-device-specific resource for anyone with questions about ACL tears at ACLTear.com.

Recently, the company made announcements regarding innovations that would be joining these technologies in the marketplace.

The Synergy Power, a versatile and reliable battery-powered system designed for a wide variety of orthopedic applications, was launched in June of this year. The system includes two handpieces—the dual trigger rotary drill and sagittal saw—providing surgeons and healthcare facilities with precision and flexibility. Both handpieces are crafted to be lightweight and ergonomic, ensuring comfort throughout even the toughest cases.

Featuring a unique twist mechanism, the dual trigger rotary drill efficiently connects and removes attachments. With left or right rotation of the easy-to-access collet ring, surgeons and staff can remove one attachment and quickly connect another for a seamless transition to the next surgical step. In addition, the proprietary open hub of the sagittal saw was designed for easy cleaning and visualization, which makes for efficient sterile processing and provides operating room staff with assurance of secure blade placement.

Also, the NanoScope operative arthroscopy system gained clearance from the U.S. FDA for pediatric orthopedics and laparoscopy. The system is a compact, high-resolution mobile imaging platform featuring the industry’s first high-definition, chip-on-tip camera—known as the NanoNeedle Scope—engineered specifically to meet the unique anatomical and procedural needs of pediatric patients. It can be used in common pediatric cases like general knee arthroscopy, meniscal treatments, anterior cruciate ligament reconstruction, general shoulder arthroscopy, and hernia or diagnostic laparoscopy in the abdomen. The smaller scope is designed to minimize the potential risk of damaging anatomical structures upon entry, along with neurovascular structures.

Within the same vein as its ACLTear website, Arthrex also continued its corporate mission of “Helping Surgeons Treat Their Patients Better” with the launch of OrthoPedia Patient. This site is an interactive digital platform that provides patients with access to easy-to-understand videos covering a comprehensive range of orthopedic conditions and treatments.

“This comprehensive website provides healthcare professionals and patients understandable educational resources when navigating the most common orthopedic conditions, injuries, and treatment options as surgical technology rapidly evolves,” explained Arthrex President and Founder Reinhold Schmieding.

According to the company, all OrthoPedia Patient content is developed by clinical specialists who are experts in their fields. Content is peer-reviewed by healthcare professionals, making OrthoPedia Patient one of the few peer-reviewed orthopedic resources for patients on the Internet. The platform was said to be continuously updated every week to reflect the latest orthopedic research, digital education, and treatment standards.

Committed to educating patients, Arthrex launched another patient-focused website in early 2024. TheNanoExperience.com highlights the science and benefits of Nano arthroscopy—a modern, least-invasive orthopedic procedure that may allow for a quick return to activity and less pain. Using a tiny, high-quality camera at the tip of a needle-like device along with other miniature arthroscopic instruments, surgeons can diagnose and treat orthopedic injuries across a wide variety of joint spaces, particularly in smaller joints like the wrist, ankle, and elbow, as well as use Nano arthroscopy for injured or arthritic knees and shoulders. Nano arthroscopy procedures performed using the NanoNeedle Scope may also allow for diagnosis and treatment under local anesthesia, providing patients an opportunity to engage with their doctor during the process and potentially negate the need for an MRI.

In its Corporate Responsibility Report for FY24, Schmieding offered insight into the company’s commitment to healthcare and education. “Through a robust corporate responsibility program based on our company’s core value of Making People Better, we are committed to perpetual innovation that delivers the most advanced products and technologies to the healthcare professionals treating millions of patients around the world, while contributing to a sustainable and healthy environment that creates well-being and a high quality of life for all.”

As a private entity, the company is not required to provide a complete financial report like its public peers; however, isn’t its mission, as stated here, really the most important thing it could share?

$3.2 Billion*
Prior Fiscal: $3.1 Billion*
Percentage Change: +3.2%
No. of Employees: 4,500

*Per a Forbes estimate

John Andrews had a hunch about the hit. And it wasn’t good.

Andrews had just watched New York Jets quarterback Aaron Rodgers get sacked on the fourth play of the team’s 2023 season. He noticed the Super Bowl XLV champion stand up, hop once, and then sit back down on the turf.

Andrews knew at that point that Rodgers’ season was over.

“I immediately knew what happened,” Andrews told Fort Meyers, Fla.-based WINK-TV last fall. “I had a good hunch that it was going to be an Achilles rupture just based on the foot being planted and him pushing off with heavy weight on him.”

Turns out, Andrews’ hunch was spot-on. Rodgers had indeed torn his left Achilles tendon—the fibrous band of tissue connecting the calf muscles and heel—becoming just the third NFL quarterback in recent history to do so (Miami Dolphins legend Dan Marino and New York Jets Pro Bowler Vinny Testaverde founded the club).

Rodgers was determined to play again before the season ended, but his timetable was rather optimistic, considering the year-long, disjointed rehabilitation process usually associated with Achilles tendon injuries. (Testaverde last year compared Achilles rehabilitation to growing hair, telling ESPN “You know it’s occurring but you can’t see it.”).

Rodgers, however, significantly improved his chances of a speedier than standard recovery by restoring his damaged tendon via the Arthrex SpeedBridge repair system. Manufactured and marketed by Naples, Fla.-based Arthrex Inc., the system expedites athletes’ return to play (and non-athletes’ return to normal daily activities) by using a minimally invasive technique that reduces blood supply disruption and helps maintain lower leg/calf use. According to product literature, the SpeedBridge repair solution allows for full weight-bearing in a boot at (roughly) two weeks without wedges compared to eight weeks for a traditional Achilles fix. Similarly, progression to a “sport-specific” rehabilitation phase occurs around four months with SpeedBridge—two months (or more) earlier than conventional repairs, research indicates, though therapeutic protocols can vary depending on the patient and injury severity.

The Arthrex SpeedBridge repair system is a minimally invasive, soft tissue fixation technique that uses an hourglass suture pattern to deliver a more rigid tendon attachment and improve tendon-to-bone opposition. The system’s four-anchor construct produces a knotless repair, thereby improving weightbearing stability and range of motion. Additionally, islands of elemental silver and zinc embedded in the surgical dressing generate electrical microcurrents to initiate cell migration and facilitate wound healing.

“The sutures that are put through the tendon on the top end come down through anchors and are put into the heel bone, and it creates a knotless repair, so you’re not actually ever having to tie a knot,” explained Andrews, group product manager for Extremities and Trauma at Arthrex. “We’ve condensed it down to very small incisions, which helps with recovery time.”

That recovery assistance undoubtedly has helped boost the SpeedBridge system’s clinical use since its debut about a decade ago. The solution has been used on more than 50,000 patients, Arthrex boasts, including such high-profile athletes as Los Angeles Rams running back Cam Akers and NBA All-Star legend Kobe Bryant.

The SpeedBridge system is among the thousands of arthroscopic joint repair products Arthrex has developed in its 43-year history. Founded by (now) billionaire businessman Reinhold D. Schmiedling in Munich, Germany, the company moved to the United States in 1984, first settling near Burlington Vt., before relocating to its present location (Naples) in 1991. Arthrex is privately held and as such, does not publicly disclose its financial status, but the company’s Forbes profile lists its 2023 revenue at $3.2 billion, a 3.2% increase over the prior year and a 60% spike from its 2018 total ($2 billion, Forbes reports).

Without an annual report or public discussion of its fiscal health, it is practically impossible to determine the reason(s) for Arthrex’s revenue bump last year. While the company is not shy about sharing the impact of its products on patients, regulatory and clinical study updates are few and far between at best.

Most of the “News Updates” Arthrex shared last year focused on the real-world benefits of its arthroscopic technology, particularly concerning professional athletes. An October update, for example, highlighted Rodgers’ SpeedBridge procedure as well as the UCL (ulner collateral ligament) repair technique used to treat San Francisco 49ers quarterback Brock Purdy’s sprained elbow. Purdy avoided Tommy John surgery (and its 12-month-plus recovery) by undergoing a ligament augmentation procedure using Arthrex’s UCL InternalBrace system, which uses special anchors to hold the damaged ligament to the bone during the healing process. The ligament is compressed against the bone with FiberTape suture, composed of collagen-coated ultra-high-molecular-weight polyethylene.

Similarly, a November 2023 news update touted Arthrex’s role in helping Georgia Bulldogs tight end Brock Bowers quickly bounce back from a high ankle sprain. Physicians treated Bowers’ injury with the Syndemosis TightRope XP implant, which gives the ankle support as it recovers from a severe syndesmotic ligament sprain. The device anchors the tibia and fibula ends together with a braided polyethylene cord to restore the bones’ original position; this enables the ligaments to properly heal and allows for normal physiologic movement. Instead of a screw—which can be too rigid—the TightRope system stabilizes the syndesmosis in a flexible manner, thereby preserving the tibia-fibula motion while preventing problematic bone widening.

Treatment success stories like Browers’ and Rodgers’ were not the only source of Arthrex’s pride last year, though. The company was equally passionate about sharing its latest patient and professional education initiatives.

The company last May launched a new patient-focused website, ACLTear.com, which illustrates the science of anterior cruciate ligament (ACL) injuries, highlights the benefits of knee preservation technology, and provides tools to help patients connect with surgeons performing advanced, minimally invasive ACL procedures.

Arthrex’s ACL Repair TightRope implant and SwiveLock ACL Repair Kit preserves patients’ anterior cruciate ligaments, allowing for an easier, quicker recovery with a more normal-feeling knee.

ACLTear.com offers an interactive Find a Doctor tool to help patients quickly and easily locate surgeons in their area. “ACLTear.com is a tremendous educational resource for patients who want comprehensive information based on extensive orthopedic research and real patient experiences,” President/Founder Reinhold Schmieding said upon the website’s launch.

Coincidentally (or not), ACLTear.com debuted just a few months after Arthrex’s ACL TightRope implant was cleared by the U.S. Food and Drug Administration for pediatric indications.

While ACL injuries are most common in patients between 10 and 29 years old, previous treatment options for the younger end of this patient population have traditionally been based on surgical techniques and devices designed for adults. Arthrex developed the all-epiphyseal technique for skeletally immature patients so clinicians can avoid pediatric growth plates when repairing or reconstructing the ACL. Using pediatric-specific instrumentation guides, surgeons drill sockets for the new, reconstructed ACL away from the growth plates.

In older adolescent patients who are approaching skeletal maturity, surgeons drill across the growth plates to reconstruct the ACL using an all-soft-tissue autograft. Of the two all-soft-tissue autografts available for use in this young athlete population, quadriceps autografts have consistently had superior outcomes compared to hamstring autografts, with lower revision rates and greater return-to-sport rates.

“For more than a decade, Arthrex has worked closely with orthopedic surgeons from HSS to develop minimally invasive solutions for pediatric and young adolescent ACL surgery,” Schmieding declared in a news release. “We are proud to partner with surgeons from the Hospital for Special Surgery to design treatment options specifically for ACL injuries in younger patients. This is a significant achievement in orthopedic surgery and another testament to Arthrex’s dedication to its mission of ‘Helping Surgeons Treat Their Patients Better,’ starting from an early age.”

Arthrex further advanced that mission last summer by unveiling a new medical education production studio on its global headquarters campus. The 24,000-square-foot Studio X includes three distinct areas for video content creation. The Holodeck Extended Reality (XR) Stage combines multiple high-resolution motion-tracking cameras, LED walls, and LED floor to create an immersive, interactive and spatial experience for presenters and audiences.

The Surgical Studio suite is equipped with next-generation Synergy technology to enhance the visual quality of surgical techniques as well as demonstrate new workflow and procedural efficiencies. The Virtual Production Stage, meanwhile, surrounds presenters with a 100-foot LED volume that towers more than 17 feet, creating engaging panel discussions, case presentations, and patient outcome videos.

Additionally, Studio X will serve as a strategic planning and design center for future ambulatory surgery centers (ASCs). Surgeons and administrators can participate in hands-on demonstrations using the latest Synergy OR integration platform. ASC architectural designs can be visualized in 3D technology and manipulated on the XR stage, providing an immersive planning experience to visualize and customize every space in real-time, according to Arthrex. From full OR integration to orthobiologic and nano arthroscopy treatment rooms, ASCs can be designed and built for emerging technology and less invasive procedures of the future.