Early Life
Reinhold D. Schmieding was born in Michigan in 1955 or 1956 to German immigrant parents. His father was a dentist. He studied at Michigan State University from 1973 to 1977.
Rise to Success
Schmieding's career began in 1981 when he founded Arthroscopy Excision Instruments Inc. with an initial investment of $60,000. The company focused on the emerging field of arthroscopy. 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. Later, the company was renamed Arthrex Inc. Arthrex distributes its products to more than 90 countries worldwide and has subsidiaries throughout Europe. The company has grown from two employees to over 2000.
Key Business Strategies
Schmieding's approach to business is characterized by a focus on innovation, commitment to employees, and a deep understanding of the needs of surgeons. Arthrex emphasizes research and development, producing thousands of products and maintaining a strong presence in the medical device market.
Philanthropy
Arthrex and Schmieding are committed to supporting the local community through various philanthropic initiatives. The company supports causes such as Bikers for Babies, Stockings for Soldiers, the fight against breast cancer, a school playground, schools in Laos, wells in Guinea and more than 100 local charities. Arthrex also co-sponsored the foundation of the southwest Florida chapter of the First Tee youth development organization. The company provides iPads to high school STEM classrooms in Collier and has been recognized as a top workplace for giving back.
