Michael Finegan Named Chair of the Orthofix Board of Directors

Rhea-AI Summary

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.

Positive

• Michael Finegan's appointment brings significant industry experience to Orthofix.
• Finegan's previous roles at Orthofix, including Chief Strategy Officer, provide valuable internal knowledge.
• Finegan's current role as CEO of Acera Surgical aligns with Orthofix's focus on innovation in medical technology.
• Orthofix's leadership transition is presented as a strategic move to drive profitable growth and sustainable shareholder value.

Negative

• None.

LEWISVILLE, Texas--(BUSINESS WIRE)-- Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and orthopedics company, today announced the appointment of Michael Finegan as Chair of the Board of Directors.

Michael Finegan, Chair of the Orthofix Board of Directors. (Photo: Business Wire)

Finegan was appointed to the Orthofix Board in December 2023. He is CEO at Acera Surgical, a bioscience company developing and commercializing a portfolio of fully engineered synthetic materials for soft tissue repair and regenerative medicine. Prior to joining Acera, Finegan spent 14 years at Orthofix where he served in roles of increasing responsibility, including seven years as Chief Strategy Officer.

“I have a long history with Orthofix, and it is an honor to be selected to lead the Board of Directors,” said Finegan. “The company has undergone a transformation and I believe is well-positioned to deliver profitable growth and significant, sustainable shareholder value as we fulfill our mission of providing life-changing solutions for patients.”

“We are grateful to former Chair Cathy Burzik for her outstanding leadership, and I would like to thank her for all she has done for Orthofix and wish her the best as she continues to make a difference in the healthcare industry,” said Massimo Calafiore, Orthofix President and CEO. “We are also excited to welcome Michael as our new Chair. His years of experience in the industry and specifically with Orthofix, will provide the Board with an important dimension and a tremendously valuable perspective to take us into our next chapter of growth.”

Prior to Finegan’s tenure at Orthofix, he served more than 16 years in a variety of roles at Boston Scientific. Finegan has a BA in economics from Wake Forest University.

About Orthofix

Orthofix is a leading global spine and orthopedics company with a comprehensive portfolio of biologics, innovative spinal hardware, bone growth therapies, specialized orthopedic solutions, and a leading surgical navigation system. Its products are distributed in more than 60 countries worldwide. The Company is headquartered in Lewisville, Texas, where it conducts general business, product development, medical education and manufacturing, and has primary offices in Carlsbad, CA, with a focus on spine and biologics product innovation and surgeon education, and Verona, Italy, with an emphasis on product innovation, production, and medical education for orthopedics. The combined Company’s global R&D, commercial and manufacturing footprint also includes facilities and offices in Irvine, CA, Toronto, Canada, Sunnyvale, CA, Maidenhead, UK, Munich, Germany, Paris, France and São Paulo, Brazil.

Forward-Looking Statements

This news release may include forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “projects,” “intends,” “predicts,” “potential,” “continue” or other comparable terminology. Orthofix cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that are based on the Company’s current expectations and assumptions. Each forward-looking statement contained in this news release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others: the ability of newly launched products to perform as designed and intended and to meet the needs of surgeons and patients, including as a result of the lack of robust clinical validation; and the risks identified under the heading “Risk Factors” in Orthofix Medical Inc.’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which was filed with the Securities and Exchange Commission (SEC) on March 5, 2024. The Company’s public filings with the Securities and Exchange Commission are available at www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. Orthofix does not intend to revise or update any forward-looking statement set forth in this news release to reflect events or circumstances arising after the date hereof, except as may be required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240624766470/en/

Media Relations

Denise Landry

DeniseLandry@Orthofix.com

214.937.2529

Investor Relations

Julie Dewey

JulieDewey@Orthofix.com

209.613.6945

Source: Orthofix Medical Inc.

FAQ

Who is the new Chair of the Orthofix Board of Directors?

Michael Finegan has been appointed as the new Chair of the Orthofix Board of Directors.

When was Michael Finegan appointed to the Orthofix Board?

Michael Finegan was appointed to the Orthofix Board in December 2023.

What is Michael Finegan's current role outside Orthofix?

Michael Finegan is currently the CEO of Acera Surgical.

What previous positions has Michael Finegan held at Orthofix?

Michael Finegan served as Chief Strategy Officer at Orthofix for seven years.

What did Orthofix's CEO say about Michael Finegan's appointment?

Orthofix's CEO, Massimo Calafiore, stated that Finegan's industry experience and previous roles at the company provide a valuable perspective for the company's growth.