Orthofix Names Julie Dewey Chief Investor Relations and Communications Officer; Max Reinhardt Begins as President of Global Spine

Rhea-AI Summary

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.

Positive

• Julie Dewey's appointment boosts Orthofix's executive leadership team with vast industry knowledge and IR program development expertise.
• Max Reinhardt's start as President of Global Spine aligns with strategic leadership expansion, potentially enhancing business operations.
• Dewey's previous success in positioning medical tech companies in financial markets could enhance Orthofix's investor relations.
• Orthofix aims to improve profitability and growth for shareholders through these strategic leadership appointments.
• Enhanced outreach with investors and analysts is expected, potentially increasing shareholder value.

Negative

• The press release lacks specific financial data or immediate performance metrics, which may leave investors wanting more concrete evidence of impact.
• No clear timeline for expected improvements in profitability and growth, leaving uncertainty about short-term effects.

LEWISVILLE, Texas--(BUSINESS WIRE)-- Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and orthopedics company, today announced the appointment of Julie Dewey as Chief Investor Relations and Communications Officer. Additionally, as previously announced, Max Reinhardt begins as President of the company’s global spine business. Dewey and Reinhardt will serve on Orthofix’s Executive Leadership Team.

Julie Dewey, Chief Investor Relations and Communications Officer, Orthofix Medical Inc. (Photo: Business Wire)

A seasoned investor relations and communications executive, Dewey previously held roles as a corporate officer for multiple global publicly traded medical device companies. Most recently, she served as Chief Communications and Investor Relations Officer for Treace Medical Concepts, Inc., a medical technology company focused on the surgical management of bunion and related midfoot deformities. Earlier in her career, she was the Senior Vice President and Chief Communications Officer at Wright Medical Group, a global medical device company focused on extremities and biologics that was acquired by Stryker in 2020.

“We are excited to welcome Julie to the company,” said Orthofix President and Chief Executive Officer Massimo Calafiore. “She is deeply respected within the industry and brings with her vast knowledge of our markets, technologies, and growth strategies. Her appointment not only strengthens our executive leadership team, but it also further establishes our focus on expanding our outreach with investors and analysts as we continue to drive profitability and growth for our shareholders.”

Dewey is known for her strong focus on transformative IR program development, successfully positioning medical technology companies in the financial market, and expanding outreach and engagement with the investment community.

“I am thrilled to join Orthofix in this new leadership role at such a transformational time in its growth trajectory,” said Dewey. “I look forward to working with Massimo and the rest of the Orthofix team to execute on the company's growth strategy and deliver a best-in-class experience for the investment community and key stakeholders.”

About Julie Dewey

Julie Dewey has more than 25 years of experience in investor relations, corporate communications and marketing leadership roles at several medical technology companies. Dewey served as Chief Communications and Investor Relations Officer at Treace Medical Concepts, Inc. Prior to Treace, Dewey was Chief Corporate Communications and IR Officer at Nevro Corp. Before joining Nevro, she was Senior Vice President and Chief Communications Officer at Wright Medical Group, N.V., a leading orthopaedic company focused on extremities and biologics that was acquired by Stryker in 2020. Earlier in her career, Dewey held investor relations and marketing positions at top medical technology companies including ev3 Inc. (acquired by Covidien), Kyphon Inc. (acquired by Medtronic) and Thoratec Corporation (acquired by St. Jude Medical/Abbott).

Dewey holds a BS in Business Administration from the University of Southern California and a Master of Business Administration degree from Pepperdine University. Dewey is a Fellow of the National Investor Relations Institute (NIRI), the professional association of corporate officers and investor relations consultants responsible for communication among corporate management, shareholders, securities analysts and other financial community constituents. Dewey also holds the Investor Relations Charter (IRC) credential.

As an inducement to enter into employment with Orthofix, Dewey was granted (i) performance-based vesting restricted stock units that settle into 61,444 shares of common stock at target achievement, (ii) time-based vesting restricted stock units that settle into 30,722 shares of common stock, and (iii) stock options to purchase 70,620 shares of common stock. The performance-based vesting restricted stock units vest at the end of a three-year performance period based on the Company’s total stockholder return relative to an industry peer group index during such period, while the time-based vesting restricted stock units vest in equal tranches over three years. The stock options vest upon achievement of both service- and performance-based criteria, whichever is the later of (a) the date certain service-based conditions are met (which will be met over three years) and (b) the date that the average closing price of the Company’s common stock over a one-month calendar period has been equal to or great than 150% of the closing price of the Company’s common stock on the grant date. The grants, which were approved by Orthofix’s Board of Directors, were made under standalone inducement award agreements approved pursuant to NASDAQ Marketplace Rule 5635(c)(4).

Max Reinhardt Starts as President of Global Spine

Max Reinhardt has stepped into the role of President of Global Spine where he will lead the company’s spine and biologics business.

As an inducement to enter into employment with Orthofix, Reinhardt was granted (i) performance-based vesting restricted stock units that settle into 28,802 shares of common stock at target achievement, (ii) time-based vesting restricted stock units that settle into 14,401 shares of common stock, and (iii) stock options to purchase 190,731 shares of common stock. The performance-based vesting restricted stock units vest at the end of a three-year performance period based on the Company’s total stockholder return relative to an industry peer group index during such period, while the time-based vesting restricted stock units vest in equal tranches over three years. In regard to the stock options, 33,103 of the stock options vest upon achievement of both service- and performance-based criteria, whichever is the later of (a) the date certain service-based conditions are met (which will be met over three years) and (b) the date that the average closing price of the Company’s common stock over a one-month calendar period has been equal to or great than 150% of the closing price of the Company’s common stock on the grant date. The remaining 157,628 stock options vest on the third anniversary of the grant date. The grants, which were approved by Orthofix’s Board of Directors, were made under standalone inducement award agreements approved pursuant to NASDAQ Marketplace Rule 5635(c)(4).

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/20240611316728/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 Chief Investor Relations and Communications Officer at Orthofix?

Julie Dewey has been appointed as the new Chief Investor Relations and Communications Officer at Orthofix.

When did Max Reinhardt start as President of Orthofix's global spine business?

Max Reinhardt began his role as President of Orthofix's global spine business as previously announced.

What are Julie Dewey's previous roles before joining Orthofix?

Julie Dewey previously served as Chief Communications and Investor Relations Officer at Treace Medical Concepts and Senior Vice President and Chief Communications Officer at Wright Medical Group.

What is the expected impact of Julie Dewey's appointment on Orthofix?

Julie Dewey's appointment is expected to strengthen Orthofix's executive leadership team and enhance investor relations, driving profitability and growth.

What is Orthofix's stock symbol?

Orthofix's stock symbol is OFIX.