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 Inc (NASDAQ: OFIX) has announced the full commercial launch of the Mariner® Deformity Pedicle Screw System, the first product introduced after its merger with SeaSpine. This system is designed for complex adult deformity spine cases, featuring advanced instrumentation, specialized implant technologies, and robust osteotomy tools. The Mariner Deformity System aims to enhance surgical workflows and reduce costs associated with sterile processing. The combined company operates globally, distributing products in around 68 countries, focusing on innovation in spine and orthopedic markets.
The merger between Orthofix Medical and SeaSpine Holdings became effective on January 5, 2023. Preliminary net sales for SeaSpine in Q4 2022 reached $63.2-$63.7 million, up over 13% year-over-year, while Orthofix reported $122.2 million, reflecting a 2% decline. SeaSpine saw strong growth in U.S. Spinal Implants and Orthobiologics, with increases over 23% and 19%, respectively. In contrast, Orthofix's Spinal Implants revenue declined over 7%. The merger aims to integrate both businesses to leverage synergies and enhance innovation in spine and orthopedic solutions.
Orthofix Medical and SeaSpine Holdings have successfully completed their merger of equals, following stockholder approval. Approximately 99% of SeaSpine voters and 98% of Orthofix voters approved the merger. The merger will be effective from 12:01 AM EST on January 5, 2023, with SeaSpine becoming a wholly-owned subsidiary of Orthofix. SeaSpine shares will cease trading, and shareholders will receive 0.4163 shares of Orthofix for each SeaSpine share. The newly combined company will focus on global spine and orthopedic solutions, and will operate under the Orthofix name.
Orthofix Medical Inc. (NASDAQ: OFIX) announced promising results from a multicenter clinical study on its Trinity Elite cellular bone allograft for lumbar spinal fusion. The study reported a remarkable 98.6% fusion rate at 12 months, as per the published data in Neurology International. The findings highlight significant improvements in patient outcomes, despite various risk factors. Orthofix emphasizes its commitment to clinical research, asserting that Trinity Elite is a safe and effective alternative to traditional autografts, enhancing surgical efficiency and patient recovery.
Orthofix (NASDAQ: OFIX) and SeaSpine (NASDAQ: SPNE) announced the appointment of John Bostjancic as Chief Financial Officer for the merged company, effective upon merger completion. Bostjancic has been CFO of SeaSpine since 2015, with prior experience at Integra Life Sciences. Doug Rice, current CFO of Orthofix, will assist during the transition. The all-stock merger agreement, announced on October 11, 2022, is expected to close in Q1 2023, pending shareholder approvals and customary conditions.
Orthofix Medical Inc. (NASDAQ:OFIX) will feature CEO Jon Serbousek and CFO Doug Rice in a fireside chat at the Stifel 2022 Healthcare investor conference on November 16, 2022, at 8:00 a.m. ET. The event will take place at the Lotte New York Palace in NYC, followed by one-on-one meetings. A live presentation will be available online for 90 days post-event. Orthofix focuses on innovative medical device solutions in spine and orthopedics, with a distribution network in over 60 countries.
Orthofix Medical reported Q3 2022 net sales of $114.0 million, up 1% year-over-year. Global Orthopedics net sales grew 19% in constant currency, driven by new products. GAAP EPS was ($0.53), while adjusted EPS was $0.13. The company announced a merger with SeaSpine, enhancing growth prospects. Despite a decrease in gross profit to $83.4 million and a net loss of ($10.7 million), adjusted EBITDA improved to $14.3 million. Outlook for 2022 projects full-year net sales between $457-$463 million.
Orthofix Medical Inc. (NASDAQ:OFIX) will release its third quarter 2022 financial results on November 3, 2022, before the market opens. The company's President, Jon Serbousek, and CFO, Doug Rice, will discuss the results during a conference call at 8:30 a.m. ET. Interested participants can join the call by dialing the provided numbers. A webcast of the call will be available on the company's investor relations website. Orthofix specializes in spine and orthopedic medical devices and operates in over 60 countries.
Orthofix Medical Inc (NASDAQ: OFIX) announced the market release of Legacy Demineralized Bone Matrix (DBM), a putty designed for bone defect treatments. Processed by MTF Biologics, Legacy DBM retains natural growth factors. The product complements Orthofix's existing biologics portfolio, which includes five new biologics introduced over the last year. Orthofix aims to meet diverse surgical needs while maintaining quality and cost-effectiveness. However, adoption risks remain, as future patient outcomes and market acceptance remain uncertain.
Orthofix Medical Inc. (NASDAQ:OFIX) announced that its Virtuos™ Lyograft received the 2022 Spine Technology Award from Orthopedics This Week. The award will be presented at the North American Spine Society annual meeting in Chicago. The Virtuos Lyograft is an innovative, shelf-stable autograft substitute designed for spine and orthopedic procedures, enhancing surgical efficiency and logistics by allowing room-temperature storage. This recognition underscores Orthofix's commitment to delivering cutting-edge solutions in medical technology.