Orthofix Medical

Orthofix Medical (Nasdaq: OFIX) + shares dipped slightly before hours on fourth-quarter results that topped the consensus forecast.

The Lewisville, Texas-based company posted losses of $22.2 million in the quarter. That equals 59¢ per share on sales of $200.4 million for the three months ended Dec. 31, 2023. The company’s bottom line dipped by more than $15 million further into the red on 64% sales growth.

Adjusted to exclude one-time items, earnings per share came in at 3¢. That landed 11¢ ahead of expectations on Wall Street. Sales also topped projections as analysts forecasted $195.3 million in revenue.

The company saw growth across segments, with Bone Growth Therapies sales ticking up 13.5%. The biggest change, though, came in Spinal Implants, Biologics and Enabling Technologies, which grew 152.4% year-over-year. Global Spine grew 78.8% and Global Orthopedics grew 7.2%.

“We are pleased to …

Lewisville, Texas-based Orthofix evaluated PEMF stimulation as an adjunct to lumbar spinal fusion procedures in patients at risk for pseudoarthrosis. Patients treated with the SpinalStim bone growth device demonstrated a high rate of successful fusion. They also showed significant improvements in pain, function and quality of life, despite having risk factors for pseudoarthrosis.

SpinalStim, an FDA-approved bone growth stimulation therapy, offers an adjunct treatment for lumbar spinal fusion. It also functions as a nonsurgical treatment for spinal pseudoarthrosis. The device utilizes PEMF technology that provides 360 degrees of treatment coverage around the fusion site.

Orthofix says its system has an overall success r…

Lewisville, Texas-based Orthofix’s latest Galaxy product offers stable external fixation. It comes in several sterile procedure kit configurations as a quick, off-the-shelf solution. The system treats fractures resulting from trauma in the lower and upper limbs.

Sterile kits eliminate the need for the sterilization of trays, which takes an average of 139 minutes, Orthofix says. In addition to the time consumption, sterilization adds cost to healthcare facilities and can cause operating room delays.

Galaxy Fixation Gemini is the only pin-to-bar system with specific clamps available in a sterile kit configuration, Orthofix says. It gives surgeons more efficient solutions in lower extremity trauma situat…

The company also confirmed the completion of the first cases in the U.S. with the module. It provides new planning features and increased functionality for the 7D Flash navigation system for minimally invasive spine surgery. The 7D system came from 7D Surgical, acquired by SeaSpine in 2021, after Orthofix and SeaSpine completed a merger this year.

7D Flash uses visible light to create a three-dimensional image for surgical navigation within seconds. This enables faster and more efficient spinal procedures, according to Orthofix. The company says it’s the only image guidance system that utilizes novel and proprietary camera-based technology coupled with machine-vision algorithms.

Orthofix said 7D Flash eliminate…

Orthofix Medical (NASDAQ:OFIX) +  posted second-quarter results this evening that beat the consensus forecast on Wall Street.

It also raised its revenue and adjusted EBITDA guidance for the rest of the year, reflecting positive developments in Bone Growth Therapies and other sectors. It’s been more than eight months since Orthofix’s merger with SeaSpine.

The Lewisville, Texas–based orthopedic device manufacturer reported a net loss of $39.4 million, or $1.07 per share, on sales of $187.0 million for the three months ended June 30, 2023. Sales were up 58% on a reported basis and 7% on a pro forma constant currency basis over the prior year.

Adjusted to exclude one-time items, earnings per share were 2¢. The result was 49¢ ahead of The Street, where the consensus had Orthofix losing 47¢ per share on sales of $185.63 million.

“I am very pleased with Orthofix’s performance this quarter, deliv…

Lewisville, Texas-based Orthofix said the system features more than 20 years of clinical history. Over that time, the device demonstrated safety and effectiveness in limb lengthening and deformity correction in adults and children.

Orthofix acquired the Fitbone intramedullary lengthening nail from Wittenstein SE in March 2020. The fully implantable system corrects leg length and deformity discrepancies through a minimally invasive implantation procedure.

Fitbone features a motorized intramedullary nail, a subcutaneously placed receiver and an external control set. This enables the patient to manage the distraction phase at home. Once the patient completes their treatment, they have the nail and receiver removed.

Orthofix offers Fitbone in the…