Orthofix Realigns Bus. Unit Structure, Names Brad Niemann President of Global Orthofix Spine & Davide Bianchi President of Gl...
June 25 2018 - 4:00PM
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180625006076/en/
Orthofix International N.V.Investor RelationsMark Quick,
214-937-2924markquick@orthofix.comorMedia RelationsDenise Landry,
214-937-2529deniselandry@orthofix.com
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