SHOULDER INNOVATIONS Business Summary

Shoulder Innovations, Inc. (NYSE: SI) is a commercial-stage medical technology firm that generates revenue through the design, manufacture, and distribution of advanced implant systems for shoulder arthroplasty. The company’s primary business segments include Total Shoulder Arthroplasty (TSA) and Reverse Shoulder Arthroplasty (RSA), both of which utilize the proprietary InSet™ Glenoid technology to address the clinical challenge of glenoid loosening, the leading cause of revision surgery. Revenue is further supported by the ProVoyance™ AI-enabled preoperative planning platform and a capital-light, two-tray surgical instrumentation system designed for procedural efficiency in both hospital and Ambulatory Surgery Center (ASC) environments. SI competes directly with major orthopedic players such as Stryker (Wright Medical), Arthrex, Smith & Nephew, and Enovis, positioning itself as a high-growth, specialized innovator with a focus on superior implant fixation and procedural simplicity. The company was founded in 2009 by Dr. Stephen Gunther, a renowned orthopedic surgeon, and is currently led by CEO and Executive Chairman Rob Ball, who previously served as Global VP of R&D at Tornier/Wright Medical. The executive team includes COO Matthew Ahearn, an entrepreneurial leader with a background in technology-driven operations, and CFO Jeffrey Points, formerly the CFO of Cardiovascular Systems, Inc. In early 2026, the company strengthened its governance by appointing medtech veteran Drew Hykes (CEO of Okami Medical) to its Board of Directors, joining other notable members such as Richard J. Buchholz. Shoulder Innovations is backed by prominent institutional investors including Gilde Healthcare, USVP, and Lightstone Ventures, reflecting its successful transition from a venture-backed startup to a publicly traded entity on the NYSE.