SPNE - SPNE STOCK NEWS

SeaSpine (NASDAQ: SPNE) and Orthofix have announced the appointment of John Bostjancic as Chief Financial Officer of their new merged entity. Bostjancic, previously CFO of SeaSpine since 2015, will play a key role in the integration process following their merger, expected to close in Q1 2023, pending shareholder approvals. Doug Rice, the current CFO of Orthofix, will assist during the transition. The merger aims to create a combined company focused on innovative solutions for spinal disorders, enhancing growth and shareholder value.

Orthofix (NASDAQ: OFIX) and SeaSpine (NASDAQ: SPNE) announced the appointment of John Bostjancic as Chief Financial Officer for the merged company, effective upon merger completion. Bostjancic has been CFO of SeaSpine since 2015, with prior experience at Integra Life Sciences. Doug Rice, current CFO of Orthofix, will assist during the transition. The all-stock merger agreement, announced on October 11, 2022, is expected to close in Q1 2023, pending shareholder approvals and customary conditions.

SeaSpine Holdings Corporation (NASDAQ: SPNE) will present at the Stifel 2022 Healthcare Conference on November 16, 2022, at 12:35 p.m. Pacific time. The presentation will focus on the company’s innovative surgical solutions for spinal disorders, including its FLASH™ Navigation system which enhances screw placement accuracy and offers a rapid, radiation-free alternative for surgical navigation. Interested parties can access the live webcast through the provided link. An archived version will also be available on SeaSpine's investor relations website.

SeaSpine Holdings Corporation (NASDAQ: SPNE) reported a strong third quarter for 2022, with total revenue of $67.1 million, a 45% year-over-year increase. U.S. revenue rose by 24% to $51.1 million, driven by a 30% growth in spinal implants. International revenue soared 207% year-over-year. The company expects full-year revenue between $236 million and $238 million, indicating a 23%-24% growth from 2021. A net loss of $15.5 million was reported, though this marked an improvement from last year's loss of $17.6 million.

SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the full commercial launch of the Mariner MIS Wayfinder System on October 31, 2022. This innovative k-wireless screw delivery system simplifies pedicle screw fixation by eliminating traditional guidewires, offering a fully integrated solution for minimally invasive spinal surgery. The system is compatible with the 7D FLASH™ Navigation System, enhancing surgical efficiency. Key industry figures praise the tool’s ergonomic design and user-friendliness, marking a significant advancement in spinal disorder treatment.

SeaSpine Holdings Corporation (NASDAQ: SPNE) will release its third quarter financial results on November 1, 2022, after market close. A conference call and webcast will follow at 1:30 pm PT / 4:30 pm ET, accessible via the company's website. SeaSpine specializes in surgical solutions for spinal disorders, offering innovative technologies like FLASH™ Navigation and a comprehensive range of spinal implants. The company operates in the U.S. and approximately 30 countries, focusing on meeting the evolving clinical needs of neurosurgeons and orthopedic spine surgeons.

SeaSpine Holdings Corporation (NASDAQ: SPNE) has launched the 7D FLASH™ Navigation System Percutaneous Spine Module, enhancing its capabilities in the minimally invasive spine surgery market valued at $4 billion globally. This system enables quick three-dimensional imaging for spinal procedures, improving efficiency and reducing radiation exposure. Surgeons have noted the versatility of the new module for various surgical approaches. The addition aims to increase adoption of the FLASH Navigation System across hospitals and surgical centers, expanding SeaSpine's market presence in surgical navigation.

SeaSpine Holdings Corporation (NASDAQ: SPNE) reported preliminary financial results for Q3 2022, projecting total revenue between $66.7 and $67.2 million, indicating a 44% to 45% year-over-year growth. U.S. revenue is anticipated to range from $50.9 to $51.2 million with a 23% to 24% increase. Notably, international revenue is expected to grow by 203% to 207%. The company revised its full-year revenue outlook to $236 to $238 million, up from earlier estimates. CEO Keith Valentine highlighted plans for a merger with Orthofix Medical to strengthen their market position.

Orthofix Medical reported Q3 net sales of $114 million, a 1% increase year-over-year. Adjusted for currency, sales rose 5%. Key drivers included a 19% growth in Global Orthopedics and an 8% increase in Biologics due to new products. Despite a 7% decline in Spinal Implants, the company noted a resurgence in M6-C sales. Orthofix announced a merger with SeaSpine, which aims to create a leading global spine and orthopedics firm. As of September 30, 2022, cash reserves were approximately $52 million.