Orthofix Med Inc Stock Price, News & Analysis

Orthofix Medical Inc. (NASDAQ:OFIX) has appointed Patrick Fisher as President of the Global Orthopedics business. Fisher, who will report to CEO Massimo Calafiore, joins from Stryker where he was Vice President and General Manager of the Foot and Ankle business unit. He previously served as President of Lower Extremity and Biologics at Wright Medical.

Fisher brings extensive experience in developing and executing innovative strategies for commercial optimization across various aspects of the orthopedics industry. As an inducement to join Orthofix, he was granted performance-based and time-based vesting restricted stock units, as well as stock options, totaling 81,151 shares at target achievement.

Orthofix Medical Inc. (NASDAQ:OFIX) reported strong Q2 2024 results, with net sales of $198.6 million, up 6% year-over-year. The company saw significant growth across all segments, particularly in Bone Growth Therapies (12% increase) and U.S. Spine Fixation (12% growth). Despite a net loss of $(33.4) million, Orthofix achieved a non-GAAP adjusted EBITDA of $16.6 million, marking a substantial improvement from the previous year.

Based on these positive results, Orthofix has raised its full-year 2024 guidance. The company now expects net sales between $795-$800 million and non-GAAP adjusted EBITDA of $64-$69 million. Notably, Orthofix anticipates achieving positive free cash flow in the second half of 2024, earlier than initially expected.

Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and orthopedics company, has announced its participation in Canaccord Genuity's 44th Annual Growth Conference in Boston. The company's management is scheduled to present on Wednesday, August 14, 2024, at 2:30 pm Eastern Time.

Interested parties can access the live and archived webcast of the presentation through the Investors section of the Orthofix website at ir.orthofix.com. The company routinely posts important information for investors in the 'Investor Relations' section of its website at www.orthofix.com and encourages investors and potential investors to consult this resource regularly.

Orthofix Medical Inc. (NASDAQ:OFIX), a global spine and orthopedics company, has appointed Stephanie Walsh as Chief Human Resources Officer. Walsh joins from ResMed Inc., where she was Vice President of Transformation and held various HR leadership roles. Her experience includes positions at Illumina, Sempra Energy, and Invitrogen (now Thermo Fisher Scientific).

Walsh brings expertise in talent management, diversity efforts, and organizational design. As an inducement to join Orthofix, she was granted time-based vesting restricted stock units for 16,603 shares and stock options to purchase 38,231 shares. The restricted stock units vest over three years, while the stock options vest based on service criteria.

Orthofix Medical (NASDAQ:OFIX) announced the 510(k) clearance and the first U.S. implant of the Fitbone Transport and Lengthening System. This innovative device treats large bone defects in the femur and tibia due to trauma, infectious, or malignant conditions. It is the only intramedullary nail designed to transport or lengthen bones through a single surgery. The system features motorized technology, allowing patients to manage the distraction phase at home. Dr. David Frumberg performed the first U.S. implantation. Orthofix aims to expand its surgical options, specifically for trauma-related conditions.

Orthofix Medical (NASDAQ: OFIX) will release its second quarter 2024 financial results on August 6, 2024, before the market opens. The company will host a conference call and webcast at 8:30 am ET on the same day to discuss the results.

Participants in the U.S. can join the call by dialing (888) 330-2508, and international participants can dial (240) 789-2735, using the passcode 9556380. A replay will be available for three weeks at (800) 770-2030 in the U.S. and (647) 362-9199 internationally, with the same passcode.

Investors can access the webcast and press release at ir.Orthofix.com. Orthofix regularly updates important information on its Investor Relations page.

Orthofix Medical (NASDAQ: OFIX) has announced the appointment of Michael Finegan as the new Chair of its Board of Directors. Finegan, who has a history with Orthofix, including serving as Chief Strategy Officer for seven years, is currently the CEO of Acera Surgical. Finegan expressed confidence in Orthofix's potential for profitable growth and sustainable shareholder value. The outgoing Chair, Cathy Burzik, was thanked for her leadership. Orthofix's President and CEO, Massimo Calafiore, highlighted Finegan's industry experience as beneficial for the company's next phase of growth.

Orthofix Medical (NASDAQ:OFIX) has named Aviva McPherron as President of Global Operations and Quality. McPherron, previously at Globus Medical and NuVasive, brings extensive experience in clinical services, strategic growth, and operational transformation. She will lead Orthofix's strategy for operations, manufacturing, regulatory, clinical, and quality teams. McPherron's appointment follows the merger of Orthofix and SeaSpine, positioning the company for enhanced growth and operational efficiency. Her compensation includes performance-based and time-based stock units, and options to purchase shares, contingent on meeting specified performance and service criteria.

Orthofix, a global leader in spine and orthopedics, has appointed Julie Dewey as Chief Investor Relations and Communications Officer. Max Reinhardt has also started his role as President of Orthofix's global spine business. Both will join the Executive Leadership Team. Dewey brings extensive experience from her previous roles at Treace Medical Concepts and Wright Medical Group. Orthofix CEO Massimo Calafiore highlights her expertise in market knowledge and growth strategies, which are expected to enhance investor relations and drive profitability. Dewey expresses her excitement to contribute to Orthofix's growth trajectory.