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 […]
Orthofix to acquire Fitbone limb lengthening system
Orthofix Medical (NSDQ:OFIX) announced that it completed an asset purchase agreement with Wittenstein SE to acquire the assets associated with the Fitbone limb lengthening system for $18 million. Lewisville, Texas–based Orthofix also acquired other potential applications of the technology, which are in preliminary development, including the Fitspine system for early-onset scoliosis. The agreement consists of $18 […]
Orthofix names former Medtronic exec to lead global spine business
Orthofix (NSDQ:OFIX) today announced that it appointed Kevin Kenny as president of its global spine business, effective Dec. 5. Kenny will be responsible for leading the global spinal implants, motion preservation, bone growth therapies and biologics businesses. “Kevin is uniquely qualified to take on this role given his prior leadership experience in the spine and medical […]
Orthofix taps former Biomet, Medtronic executive as new CEO
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 […]
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