The company lowered estimates based on a slowing of its spinal stimulation business and charges from an internal reorganization that included unspecified layoffs. The company is reorganizing the spine, orthopedics and sports medicine businesses to streamline operations, resulting in an estimated $6 million to $7 million in savings starting next year.
The company has also recently agreed to settle a suit filed by NuVasive alleging that Orthofix’s Trinity Evolution tissue allograft infringed on Nuvasive intellectual property, which could result in at least $2 million in settlement charges.
Read the Wall Street Journal report on Orthofix.
Read other coverage on Orthofix:
– Orthofix Reports $138.9M in Total Revenue, 3% Increase from Last Year
– Orthofix Releases Spinal Deformity Correction Product
– Orthofix’s FUSION XT Knee Brace Increases Airflow
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