Orthofix Med Inc Stock Price, News & Analysis

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.

Orthofix Medical reported Q3 net sales of $114 million, a 1% increase year-over-year. Adjusted for currency, sales rose 5%. Key drivers included a 19% growth in Global Orthopedics and an 8% increase in Biologics due to new products. Despite a 7% decline in Spinal Implants, the company noted a resurgence in M6-C sales. Orthofix announced a merger with SeaSpine, which aims to create a leading global spine and orthopedics firm. As of September 30, 2022, cash reserves were approximately $52 million.

Orthofix and SeaSpine have announced a definitive agreement for an all-stock merger, creating a leading global spine and orthopedics company. The combined company will possess complementary portfolios valued at approximately $693 million. SeaSpine shareholders will receive 0.4163 shares of Orthofix stock per share owned. Orthofix shareholders will control about 56.5% of the new entity. The merger is expected to offer significant revenue synergies, cost savings of at least $40 million annually, and is projected to be EBITDA accretive by the second year post-close.

Orthofix Medical (NASDAQ:OFIX) presented compelling long-term results for their M6-C artificial cervical disc at the North American Spine Society annual meeting in Chicago, held from October 12-15. The five-year study showed significant clinical effectiveness with an NDI score of 8.0, indicating mild disability, compared to 18.0 in the anterior cervical discectomy group. Additionally, the M6-C demonstrated a 3.1% subsequent surgical intervention rate and a remarkable 99% survivorship rate at 10 years, solidifying its efficacy in cervical disc replacement.

Orthofix Medical Inc. (NASDAQ:OFIX) has announced that its CEO Jon Serbousek and CFO Doug Rice will present at the Sidoti Virtual Investor Conference on September 21, 2022, at 10:00 a.m. ET. This will be a virtual event with opportunities for one-on-one meetings throughout the day. A live webcast of the presentation will be available on the company's website.

Orthofix is focused on delivering innovative medical device solutions in spine and orthopedics, distributing products in over 60 countries globally.

Orthofix Medical reported Q2 2022 net sales of $118.1 million, down 3% year-over-year, with GAAP EPS at $0.12. Global Orthopedics saw an 11% growth in net sales on a constant currency basis, driven by new products. The company announced a partnership with CGBio to commercialize Novosis™ rhBMP-2 in the U.S. and Canada. Despite operational challenges and a decrease in gross profit margin to 73.2%, the company projects full-year revenue of $455 to $465 million, indicating flat to 2% growth. Adjusted EPS is expected to range between $0.45 and $0.55.

Orthofix Medical Inc has announced a strategic partnership with CGBio, focusing on the clinical development and commercialization of Novosis, a novel bone graft technology. This partnership targets the U.S. and Canadian markets and involves Orthofix conducting clinical studies and seeking regulatory approvals. CGBio will receive upfront and milestone payments under this agreement. Orthofix aims to enhance its regenerative technology portfolio, offering surgeons new options to improve patient outcomes.

Orthofix Medical Inc. (NASDAQ:OFIX) will announce its second quarter 2022 financial results on August 5, 2022, before the market opens. The CEO, Jon Serbousek, and CFO, Doug Rice, will host a conference call at 8:30 a.m. ET to discuss the results. Interested participants can join the call by dialing (844) 200-6205 for U.S. and Canadian callers, or (929) 526-1599 for international calls, using access code 135199. A replay will be available for three weeks.

Orthofix Medical Inc (NASDAQ: OFIX) has announced the limited market release and first patient implant of the Virtuos™ Lyograft, a groundbreaking, shelf-stable autograft substitute designed for spine and orthopedic surgeries. Developed through a proprietary process by MTF Biologics, this allograft allows for quick hydration and use within two minutes, enhancing surgical efficiency. The product offers logistical and cost-saving benefits by eliminating the need for dry ice and freezer storage, aiming to reduce the carbon footprint while streamlining hospital operations.