LEWISVILLE, Texas--(BUSINESS WIRE)--Jun. 25, 2018--
Orthofix International N.V., (NASDAQ:OFIX), a global medical device
company focused on musculoskeletal products and therapies, today
announced the realignment of its strategic business units and the
promotion of Brad Niemann to President of Global Orthofix Spine, which
includes the BioStim, Spine Fixation, Spinal Kinetics and Biologics
businesses. The Extremity Fixation business, which will now be referred
to as “Orthofix Extremities” will continue to be led globally by Davide
Bianchi as the President of Global Orthofix Extremities. This alignment
structures Orthofix around two pillars: Spine and Extremities.
“In 2013, Orthofix segmented its business into four strategic business
units to gain better strategic and management focus and drive needed
performance improvements,” said Orthofix President and Chief Executive
Officer, Brad Mason. “This strategy has proved very successful over the
last several years and resulted in each business performing well with
solid leadership, execution and growth.
“Today we are announcing these organizational changes as part of an
overall strategy to position the Company for growth acceleration and to
realize opportunities that can only be achieved by leveraging our full
portfolio of spine solutions,” Mason continued. “As we expand our
product offerings and integrate new technologies, such as the M6®
disc, we believe the time is right to further optimize our structure to
better serve our surgeon customers through a two-pillar approach of a
consolidated Spine group and a focused Extremities business. We are
fortunate to have two extremely talented executives to lead these
organizations.”
“I am excited to have the opportunity to lead the Spine group and look
forward to working more closely with the current management teams from
all the spine product areas,” said Brad Niemann, President of Global
Orthofix Spine. “This structure will foster better collaboration and
alignment by bringing these teams together under one umbrella to help
ensure we make the most of our many opportunities in the market.”
Orthofix will continue to report its financial performance according to
the current four strategic business unit structure until completion of
this transition, which is expected to be at the beginning of 2019.
Subsequently, the Company will evaluate what changes in the Company’s
segment financial reporting, if any, may be required as a result of this
transition. In any event, the Company will continue to provide revenue
transparency into the extremities, stimulation, spine hardware,
biologics and Spinal Kinetics product groups.
About Brad Niemann
Niemann joined Orthofix in 2012 as Senior Vice President, Commercial
Operations and was quickly promoted to President of the BioStim
strategic business unit in June 2013 where he has successfully led the
efforts to expand the utilization of bone growth stimulation technology.
Prior to Orthofix, he worked in a variety of management and leadership
roles of increasing responsibility at DJO Global, Inc. including serving
as Senior Vice President, Recovery Sciences where he led their
commercial efforts. As President of Global Orthofix Spine, he will work
with the leaders of the Orthofix spine businesses in the development of
strategies and initiatives to advance the Company’s worldwide spine
business.
About Orthofix
Orthofix International N.V. is a global medical device company focused
on musculoskeletal products and therapies. The Company’s mission is to
improve patients' lives by providing superior reconstruction and
regenerative musculoskeletal solutions to physicians worldwide.
Headquartered in Lewisville, Texas, Orthofix’s spine and orthopedic
extremities products are distributed in over seventy countries via the
Company's sales representatives and distributors. For more information,
please visit www.orthofix.com.
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Source: Orthofix International N.V.
Orthofix International N.V.
Investor Relations
Mark Quick,
214-937-2924
markquick@orthofix.com
or
Media
Relations
Denise Landry, 214-937-2529
deniselandry@orthofix.com