Orthofix (NSDQ:OFIX) announced that it appointed Paul Gonsalves as the president of its global extremities business. Gonsalves joins Lewisville, Texas-based Orthofix after previously serving as chief commercial officer at Integra LifeSciences (NSDQ:IART). He also served as senior VP of enterprise sales and corporate marketing at the medtech company. Before his roles at Integra, Gonsalves served as senior VP […]
SEC awards $2.5M to Orthofix whistleblowers
The SEC announced yesterday that it awarded more than $2.5 million to joint whistleblowers who reportedly raised concerns over Orthofix (NSDQ:OFIX). Although the SEC did not name the company related to the whistleblower award in its news release, Reuters reported that an attorney for the whistleblowers confirmed that the money was awarded as a result of […]
MedTech 100 roundup: Another high as stocks tick up
For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from […]
Orthofix down on Street-beating Q2 results
Orthofix (NSDQ:OFIX) posted second-quarter results today that beat the consensus on Wall Street. The Lewisville, Texas-based company reported losses of -$18.4 million, or -96¢ per share, on sales of $73.1 million for the three months ended June 30, for a sales loss of -36.8% compared with Q2 2019. Adjusted to exclude one-time items, earnings per share […]
Orthofix wins FDA clearance for pediatric plating system
Orthofix (NSDQ:OFIX) today said it received FDA clearance and CE Mark approval for its JuniOrtho plating system. The device is designed specifically for pediatric patients and is designed to address the demands of advanced deformity and trauma reconstruction of the lower extremities. “The field of deformity correction is rapidly evolving with multiple technical and technological […]
FDA clears Orthofix Firebird SI fusion system
Orthofix (NSDQ:OFIX) announced today that it received FDA 501(k) clearance for its Firebird SI 3D-printed titanium bone screw. Lewisville, Texas-based Orthofix touts its Firebird SI as the first 3D-printed titanium bone screw to launch in the U.S. for treating sacroiliac (SI) joint dysfunction. The fusion system is designed to both compress and stabilize the SI joint, […]
Orthofix up on Street-beating Q1 earnings
Orthofix (NSDQ:OFIX) shares ticked up today on first-quarter results that topped the consensus earnings forecast, despite a decrease in revenue. The Lewisville, Texas-based orthopedic device company posted profits of $25.7 million, or $1.32 per share, on sales of $104.8 million for the three months ended March 31, 2020, multiplying its bottom line by nearly 30 […]
Orthofix completes acquisition of Fitbone limb lengthening system
Orthofix (NSDQ:OFIX) this week said it completed its acquisition of the Fitbone intramedullary lengthening system. Fitbone is designed to lengthen the femur and tibia bones. The acquisition also includes other potential applications of the technology that are in development, including FitSpine for fusion less surgery to treat scoliosis. The system is implanted in the bone […]
Orthofix plummets after hours on missed projections
Orthofix Medical (NSDQ:OFIX) shares took a hit after hours today on fourth-quarter results that missed the forecasts made by Wall Street. OFIX shares were down -14.4% at $38.51 per share after hours this evening. The Lewisville, Texas-based orthopedic device company posted profits of $11.7 million, or 60¢ per share, on sales of $121.5 million for the […]
DePuy Synthes and Orthofix settle customer-poaching lawsuit
Johnson & Johnson (NYSE:JNJ) unit DePuy Synthes has settled its lawsuit over alleged customer-poaching against Orthofix (NSDQ:OFIX) and a pair of former DePuy sales reps for an undisclosed amount. The confidential settlement comes nearly 11 months after DePuy filed suit in the U.S. District Court for Eastern Texas, alleging that its rival lured the reps and two […]
FDA approves Orthofix’s mobile app for bone growth stimulators
Orthofix Medical (NSDQ:OFIX) announced today that it won FDA approval for its STIM onTrack mobile app version 2.1 for use with its bone growth stimulators. STIM onTrack is designed to work with Orthofix’s bone growth therapy devices as an accessory to help users adhere to prescriptions and improve clinical out comes. It is supposed to augment […]
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