Founder of privately owned medical device giant Arthrex Inc. to receive IDEA honours at Winnipeg gala

To say that Reinhold Schmieding is a successful businessman — or, as his parents might have said, ein erfolgreicher Geschäftsmann — is an understatement.

Born to two physicians from Germany, Schmieding is the president and founder of Arthrex Inc., a medical device company based in Naples, Fla.

The entrepreneur has spearheaded the development of more than 25,000 surgical devices and implants over the last five decades, advancing minimally invasive surgery worldwide.

With 15,000 employees around the world and an annual revenue of US$6 billion, Arthrex remains a private company — something Schmieding, who is in Winnipeg this week to receive the 2026 International Distinguished Entrepreneur Award (IDEA), says is key to its success.

“We’re not influenced to compromise based on economic gain like other publicly traded companies are,” the 71-year-old said during an interview at the Fort Garry Hotel on Tuesday evening, shortly after arriving in the Manitoba capital.

“(We) have the freedom to do the right thing all the time. It definitely inspires our employees and I think builds a level of trust with our surgeons. We don’t compromise on the quality of our products. We constantly reinvest, innovate, grow the business and we’ve done that successfully now for 44 years.”

Schmieding will receive the IDEA accolade at a gala dinner on Thursday.

The award is presented annually by the Associates of the University of Manitoba’s Asper School of Business, a group of more than 365 senior executives. It honours an entrepreneur who has achieved international success and stature the Asper community can celebrate, learn from and be inspired by.

“It’s a great honour,” said Schmieding, who usually shies away from interviews and award presentations. “I’m honoured to be invited to receive the award.”

Born and raised in Michigan, Schmieding aspired to become a physician like his parents.

“(We) have the freedom to do the right thing all the time.”

While working toward a bachelor of science in physiology at Michigan State University, he visited a career fair that changed the course of his life. At the fair, he came across a display of orthopedic implants that immediately fascinated him.

After graduating in 1977, Schmieding took a job with a medical devices company in Munich, Germany. He started Arthrex in 1981 at a drafting table in his apartment. Using $60,000 he’d saved, he developed some of the first surgical instruments for arthroscopic knee surgery.

After building Arthrex in Europe for 10 years, Schmieding returned to the United States and established the company’s headquarters in Florida.

Today, the company’s campus, which spans more than 60 acres, has become one of the most advanced product design and surgical skills education centres in the world. Thousands of health-care professionals visit each year, including Winnipeg professor and orthopedic surgeon Dr. Peter MacDonald.

The company creates at least 1,000 new products and related procedures annually, and is a pioneer in the field of arthroscopy and sports medicine.

It counts Winnipeg Jets goaltender Connor Hellebuyck among the athletes it has helped. After an MRI confirmed in November 2025 the NHL player had a torn meniscus, MacDonald used Arthrex technology to debride Hellebuyck’s knee so he could compete with the U.S. men’s hockey team in the 2026 Winter Olympics

“The (recovery) timeline was four to six weeks, and by Week 3, I was ready to go,” Hellebuyck said in a video testimonial published on Arthrex’s YouTube page. “I absolutely feel stronger now.”

Schmieding said his mission has always been to contribute to the field of medicine.

“If I wasn’t going to be a surgeon, the least I could do is help surgeons treat their patients better,” he said. “We’re making a difference in people’s lives, and over 20 million patients will be impacted by our products this year. So, that makes us proud.”

Schmieding shared stories from his career on Wednesday morning, during an event for students, staff and faculty at the U of M. He’ll share more stories during Thursday’s gala.

“We’re making a difference in people’s lives, and over 20 million patients will be impacted by our products this year.”

“You couldn’t find a more textbook example of an entrepreneur,” said Paul Soubry, former president and chief executive of NFI Group, who chairs the Associates’ IDEA branch.

“(He’s) humble, honest, hard-working, sincere, not beholden to the banks or investors … He ticked every single box and we were really thrilled that he accepted.”

The Associates launched IDEA in 1984. Recipients are presented with a five-ounce gold medal produced by the Royal Canadian Mint.

Last year, Steve Young, a Pro Football Hall of Famer who pursued a successful career in private equity after retiring from the NFL, received the accolade.

aaron.epp@freepress.mb.ca