26 June 2018 | News
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.
Singapore – Orthofix International, a global medical device company focused on musculoskeletal products and therapies, 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.
“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.