LEWISVILLE, Texas--(BUSINESS WIRE)--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.
