Here are five key updates from Orthofix since March 12.
1. Vickie Capps joined Orthofix’s board of directors. She has extensive experience in finance and executive leadership and is on the board for other companies including Amedisys, Janux Therapeutics and Breg. She previously was on NuVasive’s board of directors.
2. Orthofix’s TrueLok Elevate transverse bone transplant system earned FDA 510(k) clearance and CE Mark from the European Union. TrueLok Elevate is designed for limb preservation and addresses bony or soft tissue deformities.
3. Orthofix CEO Massimo Calafiore saw total compensation of $10.6 million in 2024, according to an April 20 proxy filing.
4. Orthofix’s first quarter sales, including its recently discontinued M6-C and M6-L disc, were $193.6 million. Excluding M6 sales, Orthofix’s quarterly revenue grew 3.9% with $189.2 million.
5. In February, Orthofix announced plans to discontinue the M6 disc replacement line. Orthofix expects a one-time restructuring cost of $8 million mostly linked to the closure of a dedicated manufacturing facility in California, CFO Julie Andrews said in a May 6 earnings call.
