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 announced FDA 510(k) clearance for its OrthoNext digital platform, designed for deformity analysis and preoperative planning in pediatric orthopedic procedures. This platform complements the JuniOrtho Plating System, which targets advanced deformity and trauma reconstruction for pediatric patients. The company is progressing with a full market launch of the JuniOrtho system in the U.S. and Europe. This innovative combination aims to enhance surgical planning and optimize patient outcomes in pediatric orthopedic care.
Orthofix Medical reported Q1 2021 net sales of $105.6 million, reflecting a 0.7% increase year-over-year. The company faced challenges from the pandemic and severe weather, resulting in a net loss of $(5.8) million or $(0.30) EPS. Adjusted EPS was $0.17, up from $0.09 in Q1 2020. Gross profit decreased to $79.7 million with a gross margin of 75.5%. Liquidity remains stable with $95.1 million in cash. The company anticipates 2021 net sales of $455 million to $465 million, marking a projected 11.9% to 14.4% increase.
Orthofix Medical Inc. (NASDAQ:OFIX) has entered into an exclusive license agreement with IGEA S.p.A to commercialize innovative orthopedic products in the U.S. and Canada. This includes obtaining FDA approvals for IGEA's bone and cartilage stimulation technologies, enhancing Orthofix's existing Pulsed Electromagnetic Field (PEMF) therapies. The collaboration aims to expand treatment options for fracture management and improve joint health. IGEA has a strong presence in Europe, treating over 20,000 patients annually, and this partnership will leverage both companies' strengths in the medical device market.
Orthofix Medical Inc. (NASDAQ:OFIX) announced it will release its financial results for the first quarter of 2021 on April 30, 2021, before market opening. A conference call led by CEO Jon Serbousek and CFO Doug Rice will occur at 8:30 a.m. ET the same day. Interested parties can join via phone or access the webcast on the company's investor relations site. Orthofix focuses on innovative medical devices for spine and extremities, distributing products in over 70 countries.
Orthofix Medical (NASDAQ: OFIX) has received FDA 510(k) clearance and successfully implanted its FORZA™ Ti TLIF Spacer System, designed for Transforaminal Lumbar Interbody Fusion. This 3D-printed titanium implant incorporates Nanovate™ Technology to promote bone growth during spinal fusion. Key features include optimized porosity and a large graft window. Orthofix aims to address current surgeon needs and enhance patient outcomes with this innovative system, building on the recent launch of its cervical interbody product. The product rollout will target specific commercial channels.
Orthofix Medical (NASDAQ: OFIX) announces leadership changes as Chairman Ron Matricaria and director Maria Sainz will not seek re-election at the 2021 Annual Meeting. Catherine Burzik has been nominated as the new Chair of the Board. Burzik brings over 30 years of experience in the medical device sector, having held executive roles at Kinetic Concepts, Johnson & Johnson, and Eastman Kodak. The Board's size will decrease from nine to eight members. CEO Jon Serbousek welcomed Burzik's experience to aid in Orthofix's continued growth and commitment to patient care.
Orthofix Medical Inc (NASDAQ:OFIX) has received FDA 510(k) clearance for its innovative 3D-printed CONSTRUX Mini Ti Spacer System, aimed at enhancing anterior cervical discectomy and fusion (ACDF) procedures. The first patient implant has been successfully completed. This titanium spacer incorporates Nanovate Technology, promoting bone growth and fusion. Compared to solid PEEK devices, its 3D-printed structure significantly enhances osteogenic growth factors. Orthofix aims to expand its cervical spine portfolio, with a commitment to improving patient outcomes.
Orthofix Medical reported its Q4 and FY 2020 financial results, showing Q4 net sales of $117.6 million, a decline of 3.2% year-over-year. The company recorded a net loss of $9.4 million, or $(0.48) per share. Adjusted EPS was $0.44. For FY 2020, net sales reached $406.6 million with EPS of $0.13. The company highlighted operational resilience amidst COVID-19 disruptions and noted an expanded FDA clearance for the FITBONE® system. Guidance for 2021 anticipates net sales between $445 million and $460 million, reflecting a year-over-year increase.
Orthofix Medical Inc. (NASDAQ:OFIX) announced that its President and CEO, Jon Serbousek, and CFO, Doug Rice, will participate in a fireside chat at the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Virtual Conference on February 19, 2021, at 9:30 a.m. ET. This virtual event will include one-on-one meetings before and after the chat. A live audio webcast will be available on Orthofix's website for those interested in following the discussion.
Orthofix, based in Lewisville, Texas, focuses on innovative medical device solutions for spine and extremities.
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