BOSTON, May 01, 2009 (BUSINESS WIRE) -- Orthofix International N.V. (NASDAQ: OFIX) (the Company) announced today
that Peter Hewett will be retiring from the Company's Board of Directors
and will not seek reelection at the upcoming Annual General Meeting. Mr.
Hewett has been a Director of Orthofix since March of 1992. He was the
Deputy Group Chairman between March 1998 and December 2000, and has
served as the Deputy Chairman of the Board beginning in 2005.
"Peter has been a key member of Orthofix's Board of Directors for 17
years. His broad international business background brought immeasurable
operating knowledge to Orthofix that aided in the Company's consistent
organic and inorganic growth over a number of years. Peter's human
resource skills have also served the Company well as he has been a
mentor and advisor for many members of the Board and the senior
management team. I personally have enjoyed my long interaction with
Peter and have gained a lot from his wisdom and his counsel," said James
F. Gero, Chairman of the Board of Orthofix International.
Mr. Hewett stated, "My time on the Board, which has been a period of
rapid growth and development for Orthofix, has been deeply fulfilling.
Orthofix has always been able to attract talented Board members and it
has been a privilege to serve with them all. I believe that the current
Board, our senior management and our employees are as strong and capable
as at any time in the company's history, and that the coming years are
full of promise. The future of Orthofix is in excellent hands."
About Orthofix
Orthofix International, N.V., a global medical device company, offers a
broad line of minimally invasive surgical, and non-surgical, products
for the spine, orthopedic, and sports medicine market sectors that
address the lifelong bone-and-joint health needs of patients of all
ages-helping them achieve a more active and mobile lifestyle. Orthofix's
products are widely distributed around the world to orthopedic surgeons
and patients via Orthofix's sales representatives and its subsidiaries,
including BREG, Inc. and Blackstone Medical, Inc., and via partnerships
with other leading orthopedic product companies. In addition, Orthofix
is collaborating in R&D partnerships with leading medical institutions
such as the Musculoskeletal Transplant Foundation, the Orthopedic
Research and Education Foundation, Rutgers University, Texas Scottish
Rite Hospital for Children and National Osteoporosis Institute. For more
information about Orthofix, please visit www.orthofix.com.
Forward-Looking Statements
This communication contains certain forward-looking statements under the
Private Securities Litigation Reform Act of 1995. These forward-looking
statements, which may include, but are not limited to, statements
concerning the projections, financial condition, results of operations
and businesses of Orthofix and its subsidiaries and are based on
management's current expectations and estimates and involve risks and
uncertainties that could cause actual results or outcomes to differ
materially from those contemplated by the forward-looking statements.
Factors that could cause or contribute to such differences may include,
but are not limited to, risks relating to the expected sales of its
products, including recently launched products, unanticipated
expenditures, changing relationships with customers, suppliers and
strategic partners, risks relating to the protection of intellectual
property, changes to the reimbursement policies of third parties,
changes to and interpretation of governmental regulation of medical
devices, the impact of competitive products, changes to the competitive
environment, the acceptance of new products in the market, conditions of
the orthopedic industry and the economy, corporate development and
market development activities, including acquisitions or divestitures,
unexpected costs or operating unit performance related to recent
acquisitions and other factors described in our annual report on Form
10-K and other periodic reports filed by the Company with the Securities
and Exchange Commission.
SOURCE: Orthofix International N.V.
Orthofix International N.V.
Dan Yarbrough, 617-912-2903
Vice President of Investor Relations
danyarbrough@orthofix.com
Copyright Business Wire 2009