Orthofix (NSDQ:OFIX) has appointed Jon Serbousek — a 30-year veteran of the medical device and biotech industries — as its new president and CEO. The Lewisville, Texas–based orthopedic device company announced the appointment on Nov. 1, saying it was effective immediately. Serbousek takes over for Brad Mason, who previously announced his plan to retire. Mason will […]
Orthofix earnings plummet as sales miss projections
Orthofix (NSDQ:OFIX) shares fell in pre-market trading today on third-quarter results that came up short of the consensus forecast, a cut to its bottom-line outlook and the naming of a new chief executive. The Lewisville, Texas-based company posted losses of -$40.5 million, or -$2.14 per share, on sales of $113.5 million for the three months ended […]
Biomet vet Serbousek to succeed Mason as Orthofix CEO | Personnel Moves, August 13, 2019
Orthofix (NSDQ:OFIX) last week named a successor for president & CEO Brad Mason in November, tapping Jon Serbousek as president of its spine business effective August 5. Mason is slated to retire Oct. 31; Serbousek, a 30-year medtech veteran with stints at Biomet, Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) unit DePuy Orthopaedics, is due to […]
Ablative Solutions taps medtech vet Rumrill for CEO | Personnel Moves, July 16, 2019
Ablative Solutions tapped 30-year industry veteran Kate Rumrill, the former chief executive at NeoSync, to be its new president & CEO. Rumrill, whose resume includes stints at Covidien, Aspect Medical Systems and Eli Lilly, is slated to keep her seat on NeoSync’s board, San Jose, Calif.-based Ablative Solutions said. The company makes the Peregine renal […]
Orthofix posts Q1 EPS, sales miss
Orthofix (NSDQ:OFIX) today reported first quarter fiscal year 2019 earnings that missed Wall Street’s expectations for both sales and earnings per share. The Lewisville, Texas-based company posted profits of $897,000, or 5¢ per share, on sales of $109.1 million for the three months ended March 31, seeing profits shrink 82.8% while sales grew 0.4% when compared to […]
The 10 largest orthopedic device companies in the world
Robot-assisted surgery continues to generate headlines in the orthopedics space. But there is so much more going on among the world’s largest orthopedic device companies. Go to our sister site Medical Design & Outsourcing and discover what’s new among the 10 largest companies in the medical device industry’s ortho sector. Next>> Note: Medical Design […]
Orthofix Medical touts data from artificial disc study
A study of patients implanted with Orthofix Medical’s (NSDQ:OFIX) M6-C artificial cervical disc showed a significant improvement in neck and arm pain, function and quality of life scores, the company said today. Patients in the investigational device exemption (IDE) study also used less pain and opioid medication when compared with anterior cervical discectomy and fusion […]
J&J’s DePuy Synthes goes after Orthofix, ex-reps in poaching lawsuit
Johnson & Johnson (NYSE:JNJ) unit DePuy Synthes last week sued Orthofix (NSDQ:OFIX) and a pair of former DePuy sales reps, alleging that its rival lured the reps and two other colleagues away so it could poach DePuy clients in Alabama and Texas. According to the suit, filed in the U.S. District Court for Eastern Texas, DePuy […]
Orthofix slumps on top-line misses, CEO Mason to retire
Orthofix (NSDQ:OFIX) missed the consensus for its fourth-quarter and 2018 sales, sending its share price down by double digits today in mid-afternoon trading despite a huge bottom-line gain. Lewisville, Texas-based Orthofix reported profits were up 465.8% to $8.9 million, or 46¢ per share, on sales growth of 3.6% to $121.1 million compared with Q4 2017. Adjusted […]
Orthofix wins FDA PMA nod for M6-C artificial cervical disc
Orthofix (NSDQ:OFIX) said yesterday that it won FDA approval for its M6-C artificial cervical disc, intended for treating patients suffering from cervical disc degeneration. The Lewisville, Texas-based company said that the M6-C artificial cervical disc was developed by Spinal Kinetics, which it acquired last April. The newly cleared M6-C is a next-gen artificial disc intended to replace […]
Orthofix acquires distributor Options Medical
Orthofix (NSDQ:OFIX) said today that it acquired Florida-based medical device distributor Options Medical for an undisclosed amount. As part of deal, Lewisville, Texas-based Orthofix said that all employees of Options Medical were transitioned with the buy, which became effective February 1. “Options Medical started in North Central Florida as a small team of hard working individuals […]
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