Welcome to our dedicated page for Orthofix Med news (Ticker: OFIX), a resource for investors and traders seeking the latest updates and insights on Orthofix Med stock.
Orthofix Medical Inc. reports developments across its orthopedic and spine medical technology portfolio. The company provides spinal implants, therapeutic solutions, limb reconstruction systems, biologics and enabling technologies, including the 7D FLASH Navigation System, for complex musculoskeletal conditions.
Recurring OFIX news includes quarterly results, guidance, product launches and commercial execution in Spine and Orthopedics. Company updates also cover pediatric limb reconstruction offerings such as FITBONE, planning software such as OrthoNext, the TRUELOK Elevate system, spine leadership realignment, distributor transitions, biologics activity and the discontinued M6 artificial disc product lines.
Orthofix Medical (NASDAQ: OFIX) has announced a partnership with nView medical to co-develop and market nView's innovative imaging system, the nView s1. This FDA-cleared system features low-radiation 3D imaging and surgical guidance technology, enhancing surgical procedures for pediatric limb deformities and cervical spine corrections. Orthofix will integrate this technology into its training facility and pursue additional FDA clearances. The collaboration aims to leverage AI for improved surgical outcomes while addressing the need for reduced radiation exposure.
Orthofix Medical reported preliminary fourth quarter 2021 net sales of approximately $125 million, reflecting an 11% sequential increase and a 6% increase year-over-year. For 2021, total net sales reached approximately $464 million, a 14% rise compared to 2020. Key growth areas include Global Orthopedics and Spinal Implants, driven by market recovery and product innovations. Despite challenges from COVID-19, the company anticipates continued momentum in 2022, focusing on new product launches and market share expansion.
Orthofix Medical Inc (NASDAQ:OFIX) has appointed Thomas A. West to its Board of Directors and the Compensation and Talent Development Committee. Mr. West brings over 30 years of experience in the medical device industry, including his role as President and CEO of Intersect ENT, Inc (NASDAQ:XENT), where he played a key role in its $1.1 billion acquisition by Medtronic. The Chair of the Board, Catherine Burzik, believes his experience will enhance Orthofix’s domestic and international strategies.
Orthofix Medical reported net sales of $112 million for Q3 2021, reflecting a 1.3% increase year-over-year. The company achieved double-digit growth in both Spinal Implants and Orthopedics, with significant milestones including the training of over 1,000 U.S. surgeons and the implantation of 60,000 M6-C artificial cervical discs globally. Despite the sales growth, adjusted EPS was $0.10, down from $0.31 the previous year, and EBITDA decreased to $5 million. The company forecasts net sales between $460 million and $464 million for the year.
Orthofix Medical, a global medical device company, will be represented by CEO Jon Serbousek and CFO Doug Rice at two upcoming virtual investor conferences. The first is the Credit Suisse 30th Annual Healthcare Conference on November 10, 2021 at 3:30pm EST. The second is the Stifel 2021 Virtual Healthcare Conference on November 17, 2021 at 2:40pm EST. Live audio webcasts will be available on their website.
Orthofix Medical Inc. (NASDAQ:OFIX) will announce its third-quarter 2021 financial results on November 5, 2021, before the market opens. CEO Jon Serbousek and CFO Doug Rice will discuss the results in a conference call at 8:30 a.m. ET. Interested parties can join the call by dialing (833) 670-0709 (U.S.) or (343) 761-2533 (international) and referencing conference ID 1889020. A replay will be available for three weeks. Orthofix focuses on spine and orthopedic solutions and operates globally, distributing products in over 60 countries.
Orthofix Medical Inc. (NASDAQ: OFIX) reported a business update, noting challenges from increased deferred or rescheduled elective procedures due to COVID-19 restrictions. The company anticipates third-quarter 2021 revenue growth to align closely with a low single-digit increase compared to the same period in 2020. CEO Jon Serbousek expressed confidence in the company’s strategic initiatives and growth potential, particularly with products like the M6-C™ artificial cervical disc and the FITBONE™ limb lengthening system.
Orthofix Medical Inc. (NASDAQ:OFIX) has announced that over 60,000 M6-C artificial cervical discs have been implanted globally, establishing a strong market position. The M6-C disc, approved by the FDA in 2019, mimics the natural motion of a disc and serves as an alternative to cervical fusion. The company is also conducting a two-level Investigational Device Exemption study for the M6-C disc to compare its effectiveness against traditional treatments. Orthofix will showcase the M6-C disc at the upcoming North American Spine Society annual meeting in Boston.
Orthofix Medical Inc. (NASDAQ: OFIX) has appointed Wayne C. Burris to its Board of Directors and the Audit and Finance Committee. Burris, who served as Senior VP and CFO at Roche Diagnostics until July 2019, brings over 35 years of experience in finance, including strategic roles in various healthcare divisions. His expertise in U.S. and international accounting is expected to contribute positively as Orthofix continues its growth initiatives. The company's mission remains focused on delivering innovative solutions in spine and orthopedics.
Orthofix Medical Inc (NASDAQ:OFIX) has launched the Opus™ Mg Set, a synthetic magnesium-based osteoconductive scaffold designed for orthopedic procedures. This innovative product aids in filling non-structural bony voids, enhancing the natural bone-healing process. The Opus Mg Set is available in moldable and injectable forms, providing immediate compressive strength and significant bone remodeling, with preclinical studies indicating over 80% bone remodeling in 26 weeks. This launch reflects Orthofix’s commitment to advancing biologic solutions in orthopedic care.