Orthofix Medical Inc. - OFIX STOCK NEWS

Orthofix Medical (NASDAQ:OFIX) has secured a new $275 million senior-secured term loan with Oxford Finance , featuring a 48-month interest-only period. The initial $160 million will retire existing credit facilities, while the remaining $115 million will be available after January 2025. Of this amount, $65 million will be accessible at borrower's option through June 2026, and $50 million at lender's discretion through January 2029. The company reports significant improvements in adjusted EBITDA and achieving free cash flow positive status in 2024, supporting their strategy for long-term profitable growth.

Orthofix Medical (NASDAQ:OFIX) reported Q3 2024 financial results with net sales of $196.6 million, representing a 7% increase year-over-year. The company reported a net loss of $(27.4) million, or $(0.71) per share. Notable highlights include 18% growth in U.S. Spine Fixation, 9% growth in Bone Growth Therapies, and a record quarter for U.S. Orthopedics with 15% growth. The company maintained its full-year 2024 guidance of $795-800 million in net sales and $64-69 million in adjusted EBITDA, while introducing new 2027 financial targets including 6-7% net sales CAGR from 2025-2027.

Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, has announced its participation in the Stifel 2024 Healthcare Conference in New York. The company's management is scheduled to present on Monday, November 18, 2024, at 8:35 am Eastern Time.

Interested parties can access the live and archived webcast of the presentation in the "Events & Presentations" section of the Orthofix investor relations website at ir.orthofix.com. The company also routinely posts important information for investors in the "Investors" section of its website at www.orthofix.com, encouraging investors and potential investors to consult the website regularly for important information about Orthofix.

Orthofix Medical Inc. (NASDAQ:OFIX), a leading global medical technology company, has announced that it will release its third quarter 2024 financial results on Thursday, November 7, 2024 before market open. The company will host a conference call and webcast to review the results at 8:30 am ET on the same day.

Interested parties can access the conference call by dialing (888) 330-2508 in the U.S. and (240) 789-2735 in all other locations, using the event passcode 9556380. A replay of the call will be available for three weeks. The webcast and a copy of the release can be accessed at ir.Orthofix.com. Orthofix routinely posts important investor information on its website at www.orthofix.com.

Orthofix Medical Inc. (NASDAQ:OFIX) announced new data supporting the use of their SpinalStim™ bone growth therapy device for increasing fusion rates in lumbar spine fusion surgery. The study, to be presented at the North American Spine Society (NASS) Annual Meeting, showed high fusion success rates and significant improvements in patient outcomes despite risk factors for pseudarthrosis.

At NASS, Orthofix is also showcasing new products including:

• The full market launch of OsteoStrand™ Plus C, a 100% bone-derived graft with improved packability
• The launch of M6-C™ Single-Use, Disposable Instrumentation sets for cervical disc arthroplasty

Orthofix is sponsoring educational events on the 7D FLASH™ Navigation System and optimizing fusion techniques. Attendees can visit booth #3017 to learn more about Orthofix's spine solutions.

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.