Welcome to our dedicated page for Orthofix Medical news (Ticker: OFIX), a resource for investors and traders seeking the latest updates and insights on Orthofix Medical stock.
Orthofix Medical Inc. (NASDAQ: OFIX) is a leading medical device company providing orthopedic and spine solutions to healthcare providers worldwide. Founded in 1980 by orthopedic researcher Giovanni De Bastiani in Verona, Italy, the company has expanded to over 900 employees and operates in the U.S., Italy, Germany, France, the UK, Brazil, Australia, and Puerto Rico. Orthofix's products serve patients in more than 70 countries, focusing on enhancing patient quality of life through innovative medical solutions.
The company is structured into four strategic business units:
- BioStim: Offering bone growth stimulators using pulsed electromagnetic field technology.
- Biologics: Providing regenerative tissue products and biological solutions for bone and soft tissue repair.
- Extremity Fixation: Specializing in devices for fracture repair, deformity correction, and bone reconstruction.
- Spine Fixation: Delivering comprehensive solutions for spinal implants and bone healing therapies.
Orthofix is committed to clinical research and innovation, continuously introducing new products to meet the evolving needs of the medical community. The company maintains strong partnerships with esteemed institutions like the Texas Scottish Rite Hospital for Children and the Musculoskeletal Transplant Foundation, reflecting its dedication to advancing orthopedic and spine care.
The majority of Orthofix's sales come from its global spine segment, primarily in the United States. The company's products are distributed through sales representatives, distributors, and subsidiaries across North America, Europe, and other international markets. Orthofix's solutions cater to hospitals, physicians, healthcare providers, and patients, aiming to improve treatment outcomes and patient well-being.
Latest News: Stay updated with the latest developments, product launches, and financial reports from Orthofix Medical Inc. to keep track of the company's performance and strategic initiatives.
Orthofix Medical reported net sales of $112 million for Q3 2021, reflecting a 1.3% increase year-over-year. The company achieved double-digit growth in both Spinal Implants and Orthopedics, with significant milestones including the training of over 1,000 U.S. surgeons and the implantation of 60,000 M6-C artificial cervical discs globally. Despite the sales growth, adjusted EPS was $0.10, down from $0.31 the previous year, and EBITDA decreased to $5 million. The company forecasts net sales between $460 million and $464 million for the year.
Orthofix Medical, a global medical device company, will be represented by CEO Jon Serbousek and CFO Doug Rice at two upcoming virtual investor conferences. The first is the Credit Suisse 30th Annual Healthcare Conference on
Orthofix Medical Inc. (NASDAQ:OFIX) will announce its third-quarter 2021 financial results on November 5, 2021, before the market opens. CEO Jon Serbousek and CFO Doug Rice will discuss the results in a conference call at 8:30 a.m. ET. Interested parties can join the call by dialing (833) 670-0709 (U.S.) or (343) 761-2533 (international) and referencing conference ID 1889020. A replay will be available for three weeks. Orthofix focuses on spine and orthopedic solutions and operates globally, distributing products in over 60 countries.
Orthofix Medical Inc. (NASDAQ: OFIX) reported a business update, noting challenges from increased deferred or rescheduled elective procedures due to COVID-19 restrictions. The company anticipates third-quarter 2021 revenue growth to align closely with a low single-digit increase compared to the same period in 2020. CEO Jon Serbousek expressed confidence in the company’s strategic initiatives and growth potential, particularly with products like the M6-C™ artificial cervical disc and the FITBONE™ limb lengthening system.
Orthofix Medical Inc. (NASDAQ:OFIX) has announced that over 60,000 M6-C artificial cervical discs have been implanted globally, establishing a strong market position. The M6-C disc, approved by the FDA in 2019, mimics the natural motion of a disc and serves as an alternative to cervical fusion. The company is also conducting a two-level Investigational Device Exemption study for the M6-C disc to compare its effectiveness against traditional treatments. Orthofix will showcase the M6-C disc at the upcoming North American Spine Society annual meeting in Boston.
Orthofix Medical Inc. (NASDAQ: OFIX) has appointed Wayne C. Burris to its Board of Directors and the Audit and Finance Committee. Burris, who served as Senior VP and CFO at Roche Diagnostics until July 2019, brings over 35 years of experience in finance, including strategic roles in various healthcare divisions. His expertise in U.S. and international accounting is expected to contribute positively as Orthofix continues its growth initiatives. The company's mission remains focused on delivering innovative solutions in spine and orthopedics.
Orthofix Medical Inc (NASDAQ:OFIX) has launched the Opus™ Mg Set, a synthetic magnesium-based osteoconductive scaffold designed for orthopedic procedures. This innovative product aids in filling non-structural bony voids, enhancing the natural bone-healing process. The Opus Mg Set is available in moldable and injectable forms, providing immediate compressive strength and significant bone remodeling, with preclinical studies indicating over 80% bone remodeling in 26 weeks. This launch reflects Orthofix’s commitment to advancing biologic solutions in orthopedic care.
Orthofix Medical Inc. (NASDAQ:OFIX) announced participation in the Sidoti Virtual Investor Conference on September 23, 2021, at 2:30 p.m. ET. President and CEO Jon Serbousek and CFO Doug Rice will engage in a fireside chat, with one-on-one meetings before and after the session. Interested parties can access the live webcast on the company’s website. Orthofix focuses on innovative medical solutions in spine and orthopedics, distributing products in over 60 countries. For more information, visit www.orthofix.com.
Orthofix Medical Inc. (NASDAQ:OFIX) announces the first U.S. pediatric patient implanted with the Fitbone intramedullary lengthening system. This FDA-cleared solution is designed for limb lengthening of the femur and tibia, available in sizes 9mm, 11mm, and 13mm. The Fitbone system is now compatible with the OrthoNext digital platform, enhancing preoperative planning. The system has been successfully used in over 3,500 cases globally, reflecting Orthofix's commitment to improving patient outcomes in orthopedic care.
Orthofix Medical Inc. (NASDAQ:OFIX) reported Q2 2021 financial results, with net sales of $121 million and EPS of $0.12. Adjusted EPS rose to $0.32, reflecting improved performance over pre-COVID levels. Key growth drivers include the M6-C cervical disc and FITBONE lengthening system. Gross profit increased to $94 million, with a gross margin of 77.4%. However, cash flow from operations fell to $0.3 million. The 2021 outlook anticipates net sales between $468 million and $474 million, representing a 15.1% to 16.6% increase.
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