Orthofix Medical Inc. - OFIX STOCK NEWS

Orthofix Medical Inc. (NASDAQ:OFIX) will release its Q1 2022 financial results on May 6, 2022, before the market opens. A conference call, led by President Jon Serbousek and CFO Doug Rice, will discuss the results at 8:30 a.m. ET the same day. Participants can access the call by dialing the respective numbers in the U.S., Canada, and other locations, using the access code 428610. Additionally, a replay will be available for three weeks. Orthofix focuses on innovative medical device solutions in the spine and orthopedic markets.

Orthofix Medical Inc (NASDAQ:OFIX) has appointed Kimberley Elting as President of its Global Orthopedics business. Elting, who has over 25 years of experience in the medical device industry, succeeds Paul Gonsalves. The leadership change is expected to drive growth in Orthofix's orthopedic sector, which is crucial to the company's mission of providing innovative solutions for improving patient mobility. Elting's background includes significant roles in corporate development and business growth within Orthofix and other firms.

Orthofix Medical Inc (NASDAQ: OFIX) has received FDA 510(k) clearance for its TrueLok EVO Ring Fixation System, designed for complex limb reconstruction and deformity corrections. This system stands out as the only circular fixator featuring radiolucent rings and struts, enhancing visibility during surgeries. Its preassembled sterile packaging aims to simplify surgical procedures. The TrueLok EVO is applicable for various orthopedic treatments in both adults and children, excluding newborns. The launch is part of Orthofix's commitment to improving patient mobility and outcomes.

Orthofix Medical reported fourth-quarter net sales of $125.1 million, a 6% increase year-over-year. For fiscal year 2021, net sales reached $464.5 million, up 14% from 2020. The company demonstrated strong growth in both global spinal implants and orthopedics, driven by products like the M6-C™ cervical disc. However, the net loss increased to $(32.8) million in Q4, with an adjusted EPS of $0.27. The 2022 outlook estimates net sales between $475 million and $490 million, indicating modest year-over-year growth.

Orthofix Medical (NASDAQ:OFIX) has launched Opus BA, a synthetic bioactive bone graft solution for cervical and lumbar spine fusion procedures. Available in putty and strip forms, Opus BA serves as a scaffold for bone growth, using a unique osteoconductive matrix of carbonate apatite bone mineral, bioactive glass, and Type 1 collagen. This product aims to enhance surgeon options in a large and growing market. Orthofix will showcase Opus BA at the Congress of Neurological Surgeons Spine Summit 2022 in Las Vegas on February 25.

Orthofix Medical Inc. (NASDAQ:OFIX) will release its financial results for Q4 and full year 2021 on February 25, 2022, before market open. The announcement will be followed by a conference call hosted by Jon Serbousek and Doug Rice at 8:30 a.m. ET. Interested parties can access the call through designated phone numbers and a webcast available on the company's investor relations website. Orthofix focuses on innovative, quality-driven solutions in spine and orthopedics, with products distributed in over 60 countries.

Orthofix Medical (NASDAQ: OFIX) has announced a partnership with nView medical to co-develop and market nView's innovative imaging system, the nView s1. This FDA-cleared system features low-radiation 3D imaging and surgical guidance technology, enhancing surgical procedures for pediatric limb deformities and cervical spine corrections. Orthofix will integrate this technology into its training facility and pursue additional FDA clearances. The collaboration aims to leverage AI for improved surgical outcomes while addressing the need for reduced radiation exposure.

Orthofix Medical reported preliminary fourth quarter 2021 net sales of approximately $125 million, reflecting an 11% sequential increase and a 6% increase year-over-year. For 2021, total net sales reached approximately $464 million, a 14% rise compared to 2020. Key growth areas include Global Orthopedics and Spinal Implants, driven by market recovery and product innovations. Despite challenges from COVID-19, the company anticipates continued momentum in 2022, focusing on new product launches and market share expansion.

Orthofix Medical Inc (NASDAQ:OFIX) has appointed Thomas A. West to its Board of Directors and the Compensation and Talent Development Committee. Mr. West brings over 30 years of experience in the medical device industry, including his role as President and CEO of Intersect ENT, Inc (NASDAQ:XENT), where he played a key role in its $1.1 billion acquisition by Medtronic. The Chair of the Board, Catherine Burzik, believes his experience will enhance Orthofix’s domestic and international strategies.