The surgery was conducted at Rush University Medical Center by team physician Dr. Brian Cole. The surgery was a success, according to Rose's brother, Reggie Rose.
"The surgery went fine," Reggie Rose told Chicago's ABC 7. "He came out, I feel, 100 percent. I talked to Dr. Cole. Dr. Cole said the surgery 'went great.' So right now, everything is on the up-and-up.
"He's in a little bit of pain, but the surgery went great. My mom, my other brothers, the whole family's over there at Rush supporting him."
Rose suffered the injury in Chicago's first playoff game against the Philadelphia 76ers on April 28.
The 23-year-old Rose played in just 39 of the Bulls' 66 regular-season games because of turf toe, back spasms, a pulled groin and foot injuries.
Reggie Rose believes the hectic pace of the NBA's lockout-shortened season, which consisted of 66 games in 120 days, put extra stress on Derrick's body.
"I worried about (the schedule) a lot, cause they were going back-to-back-to-back games," Reggie Rose told ABC 7. "Even though everybody said he's young, it's still a human body. There's so much a human body can take. He was getting little nicks and knacks and all that, so I was just wondering when something was going to really happen. I didn't think something of this magnitude was gonna happen, but it did. As the Rose family, we just gotta push on."
Playing without the one-time MVP, the Bulls' season came to an early end as Chicago lost to Philadelphia in six games. In addition to Rose, center Joakim Noah missed the series' final three games with an ankle injury.
The Chicago Sun-Times first reported the news.