Welcome to our dedicated page for Orthofix Med news (Ticker: OFIX), a resource for investors and traders seeking the latest updates and insights on Orthofix Med 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, a global leader in spine and orthopedics, has won the 'Best Patient Experience Solution' award at the 2024 MedTech Breakthrough Awards for its STIM onTrack™ mobile app. The app, compatible with FDA-approved bone growth therapy devices like CervicalStim™, SpinalStim™, and PhysioStim™, tracks patient compliance data and aids in recovery by providing daily treatment reminders, usage calendars, and patient-reported outcome measures. The app enhances patient engagement by allowing remote monitoring and direct communication with physicians. This is Orthofix's second consecutive win at the MedTech Breakthrough Awards.
Orthofix Medical Inc. (NASDAQ:OFIX) has received FDA 510(k) clearance to market its innovative Rodeo Telescopic Nail designed to treat deformities or fractures in patients with osteogenesis imperfecta. The device stabilizes limbs and accommodates natural growth in pediatric patients, addressing biomechanical challenges in a streamlined procedure. The system enhances bone fixation in fragile OI patients, optimizes operational efficiency, reduces costs, and lessens contamination risks. This marks Orthofix's dedication to serving the pediatric market with tailored solutions for conditions like OI.
Orthofix Medical Inc. (NASDAQ:OFIX) reported strong first quarter 2024 results with net sales of $188.6 million, a 7.7% increase on a reported basis. The company saw growth across key segments, including Bone Growth Therapies, U.S. Spine Fixation, and Global Orthopedics. Despite a net loss of $36 million, the Non-GAAP Adjusted EBITDA increased to $7.7 million, showing a 220 basis point expansion. Orthofix raised its full-year net sales guidance to $790.0-$795.0 million, emphasizing continued growth and profitability.
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