Orthofix Medical Inc. - OFIX STOCK NEWS

Orthofix Medical Inc (NASDAQ: OFIX) announced the full commercial launch of two innovative access retractor systems, the Lattus™ Lateral Access System and the Fathom™ Pedicle-Based Retractor System, aimed at enhancing minimally invasive spine (MIS) surgeries, targeting a market valued at approximately $1.8 billion.

The Lattus system emphasizes user-friendliness and versatility, improving access and procedural efficiency for spine surgeries. Meanwhile, the Fathom system allows for precise control over blade adjustments, enhancing surgical outcomes. Both systems are designed to integrate seamlessly with Orthofix's existing products, demonstrating the company's commitment to delivering comprehensive solutions in the operating room.

Orthofix Medical Inc (NASDAQ:OFIX) announced that its Fitbone™ TAA intramedullary limb-lengthening system has surpassed 5,000 implants, with over 20 years of clinical safety and efficacy evidence. This system addresses limb length discrepancies through a minimally invasive procedure. The Fitbone system is available in the U.S. under FDA 510(k) clearance and holds a pediatric indication, making it unique in the market. Orthofix is positioned as a leader in internal and external fixation solutions for limb reconstruction, targeting innovative treatment options for patients with deformities.

The merger of Orthofix Medical and SeaSpine Holdings became effective on January 5, 2023. For Q4 2022, Orthofix reported net sales of $122.2 million, a 2% decline year-over-year, with Bone Growth Therapies growing by 3%. SeaSpine's net sales rose 14% to $63.4 million, buoyed by a strong performance in U.S. Spinal Implants and Orthobiologics, which experienced growth of 23% and 20%, respectively. The merger aims to create synergies, although initial revenue guidance for 2023 reflects minimal impact from these synergies. Orthofix's net loss for Q4 was $(7.1) million, while SeaSpine's net loss stood at $(19.0) million.

Orthofix Medical Inc. (NASDAQ:OFIX) announced an Analyst Teach-In Meeting in Lewisville, TX, on March 13, 2023, from 2:30 to approximately 6:30 p.m. CT. The C-Suite management team will detail the product portfolio and commercial strategy following the merger with SeaSpine. The event has limited in-person attendance, but a live and archived webcast will be available on the company's investor page. The merged entity offers a broad range of products in biologics, spinal hardware, and orthopedic solutions, operating in around 68 countries globally, with a focus on innovation and education.

Orthofix Medical (NASDAQ:OFIX) will present at the Canaccord Genuity 2023 Musculoskeletal Conference in Las Vegas on March 7, 2023, at 2:00 p.m. PT. Interested parties can access the webcast on the Orthofix Investor Relations website.

This follows the company’s merger with SeaSpine on January 5, 2023, creating a leading global spine and orthopedics entity with a broad product portfolio operating in approximately 68 countries. The new name for the combined entity will be announced later, but it will continue to operate as Orthofix until then.

Orthofix Medical Inc. (NASDAQ:OFIX) announced it will release its fourth quarter 2022 financial results for both Orthofix and SeaSpine, following their merger on January 5, 2023. The results will be disclosed on March 6, 2023, after market close, with a conference call scheduled at 4:30 p.m. ET the same day. The newly merged company positions itself as a leader in spine and orthopedics, distributing products across approximately 68 countries. The combined entity offers a comprehensive portfolio that includes biologics, spinal hardware, and surgical navigation systems, supported by its extensive global operations.

Orthofix Medical Inc (NASDAQ: OFIX) has announced the full commercial launch of the Mariner® Deformity Pedicle Screw System, the first product introduced after its merger with SeaSpine. This system is designed for complex adult deformity spine cases, featuring advanced instrumentation, specialized implant technologies, and robust osteotomy tools. The Mariner Deformity System aims to enhance surgical workflows and reduce costs associated with sterile processing. The combined company operates globally, distributing products in around 68 countries, focusing on innovation in spine and orthopedic markets.

The merger between Orthofix Medical and SeaSpine Holdings became effective on January 5, 2023. Preliminary net sales for SeaSpine in Q4 2022 reached $63.2-$63.7 million, up over 13% year-over-year, while Orthofix reported $122.2 million, reflecting a 2% decline. SeaSpine saw strong growth in U.S. Spinal Implants and Orthobiologics, with increases over 23% and 19%, respectively. In contrast, Orthofix's Spinal Implants revenue declined over 7%. The merger aims to integrate both businesses to leverage synergies and enhance innovation in spine and orthopedic solutions.

Orthofix Medical and SeaSpine Holdings have successfully completed their merger of equals, following stockholder approval. Approximately 99% of SeaSpine voters and 98% of Orthofix voters approved the merger. The merger will be effective from 12:01 AM EST on January 5, 2023, with SeaSpine becoming a wholly-owned subsidiary of Orthofix. SeaSpine shares will cease trading, and shareholders will receive 0.4163 shares of Orthofix for each SeaSpine share. The newly combined company will focus on global spine and orthopedic solutions, and will operate under the Orthofix name.