Orthofix Medical Inc. (NASDAQ:OFIX), a leading global spine and
orthopedics company, today announced the appointment of Julie Dewey
as Chief Investor Relations and Communications Officer.
Additionally, as previously announced, Max Reinhardt begins as
President of the company’s global spine business. Dewey and
Reinhardt will serve on Orthofix’s Executive Leadership Team.
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Julie Dewey, Chief Investor Relations and
Communications Officer, Orthofix Medical Inc. (Photo: Business
Wire)
A seasoned investor relations and communications executive,
Dewey previously held roles as a corporate officer for multiple
global publicly traded medical device companies. Most recently, she
served as Chief Communications and Investor Relations Officer for
Treace Medical Concepts, Inc., a medical technology company focused
on the surgical management of bunion and related midfoot
deformities. Earlier in her career, she was the Senior Vice
President and Chief Communications Officer at Wright Medical Group,
a global medical device company focused on extremities and
biologics that was acquired by Stryker in 2020.
“We are excited to welcome Julie to the company,” said Orthofix
President and Chief Executive Officer Massimo Calafiore. “She is
deeply respected within the industry and brings with her vast
knowledge of our markets, technologies, and growth strategies. Her
appointment not only strengthens our executive leadership team, but
it also further establishes our focus on expanding our outreach
with investors and analysts as we continue to drive profitability
and growth for our shareholders.”
Dewey is known for her strong focus on transformative IR program
development, successfully positioning medical technology companies
in the financial market, and expanding outreach and engagement with
the investment community.
“I am thrilled to join Orthofix in this new leadership role at
such a transformational time in its growth trajectory,” said Dewey.
“I look forward to working with Massimo and the rest of the
Orthofix team to execute on the company's growth strategy and
deliver a best-in-class experience for the investment community and
key stakeholders.”
About Julie Dewey
Julie Dewey has more than 25 years of experience in investor
relations, corporate communications and marketing leadership roles
at several medical technology companies. Dewey served as Chief
Communications and Investor Relations Officer at Treace Medical
Concepts, Inc. Prior to Treace, Dewey was Chief Corporate
Communications and IR Officer at Nevro Corp. Before joining Nevro,
she was Senior Vice President and Chief Communications Officer at
Wright Medical Group, N.V., a leading orthopaedic company focused
on extremities and biologics that was acquired by Stryker in 2020.
Earlier in her career, Dewey held investor relations and marketing
positions at top medical technology companies including ev3 Inc.
(acquired by Covidien), Kyphon Inc. (acquired by Medtronic) and
Thoratec Corporation (acquired by St. Jude Medical/Abbott).
Dewey holds a BS in Business Administration from the University
of Southern California and a Master of Business Administration
degree from Pepperdine University. Dewey is a Fellow of the
National Investor Relations Institute (NIRI), the professional
association of corporate officers and investor relations
consultants responsible for communication among corporate
management, shareholders, securities analysts and other financial
community constituents. Dewey also holds the Investor Relations
Charter (IRC) credential.
As an inducement to enter into employment with Orthofix, Dewey
was granted (i) performance-based vesting restricted stock units
that settle into 61,444 shares of common stock at target
achievement, (ii) time-based vesting restricted stock units that
settle into 30,722 shares of common stock, and (iii) stock options
to purchase 70,620 shares of common stock. The performance-based
vesting restricted stock units vest at the end of a three-year
performance period based on the Company’s total stockholder return
relative to an industry peer group index during such period, while
the time-based vesting restricted stock units vest in equal
tranches over three years. The stock options vest upon achievement
of both service- and performance-based criteria, whichever is the
later of (a) the date certain service-based conditions are met
(which will be met over three years) and (b) the date that the
average closing price of the Company’s common stock over a
one-month calendar period has been equal to or great than 150% of
the closing price of the Company’s common stock on the grant date.
The grants, which were approved by Orthofix’s Board of Directors,
were made under standalone inducement award agreements approved
pursuant to NASDAQ Marketplace Rule 5635(c)(4).
Max Reinhardt Starts as President of Global Spine
Max Reinhardt has stepped into the role of President of Global
Spine where he will lead the company’s spine and biologics
business.
As an inducement to enter into employment with Orthofix,
Reinhardt was granted (i) performance-based vesting restricted
stock units that settle into 28,802 shares of common stock at
target achievement, (ii) time-based vesting restricted stock units
that settle into 14,401 shares of common stock, and (iii) stock
options to purchase 190,731 shares of common stock. The
performance-based vesting restricted stock units vest at the end of
a three-year performance period based on the Company’s total
stockholder return relative to an industry peer group index during
such period, while the time-based vesting restricted stock units
vest in equal tranches over three years. In regard to the stock
options, 33,103 of the stock options vest upon achievement of both
service- and performance-based criteria, whichever is the later of
(a) the date certain service-based conditions are met (which will
be met over three years) and (b) the date that the average closing
price of the Company’s common stock over a one-month calendar
period has been equal to or great than 150% of the closing price of
the Company’s common stock on the grant date. The remaining 157,628
stock options vest on the third anniversary of the grant date. The
grants, which were approved by Orthofix’s Board of Directors, were
made under standalone inducement award agreements approved pursuant
to NASDAQ Marketplace Rule 5635(c)(4).
About Orthofix
Orthofix is a leading global spine and orthopedics company with
a comprehensive portfolio of biologics, innovative spinal hardware,
bone growth therapies, specialized orthopedic solutions, and a
leading surgical navigation system. Its products are distributed in
more than 60 countries worldwide.
The Company is headquartered in Lewisville, Texas, where it
conducts general business, product development, medical education
and manufacturing, and has primary offices in Carlsbad, CA, with a
focus on spine and biologics product innovation and surgeon
education, and Verona, Italy, with an emphasis on product
innovation, production, and medical education for orthopedics. The
combined Company’s global R&D, commercial and manufacturing
footprint also includes facilities and offices in Irvine, CA,
Toronto, Canada, Sunnyvale, CA, Maidenhead, UK, Munich, Germany,
Paris, France and São Paulo, Brazil.
Forward-Looking Statements
This news release may include forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and Section 27A of the Securities Act of 1933, as
amended. In some cases, you can identify forward-looking statements
by terminology such as “may,” “will,” “should,” “expects,” “plans,”
“anticipates,” “believes,” “estimates,” “projects,” “intends,”
“predicts,” “potential,” “continue” or other comparable
terminology. Orthofix cautions you that statements included in this
news release that are not a description of historical facts are
forward-looking statements that are based on the Company’s current
expectations and assumptions. Each forward-looking statement
contained in this news release is subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied by such statement. Applicable risks
and uncertainties include, among others: the ability of newly
launched products to perform as designed and intended and to meet
the needs of surgeons and patients, including as a result of the
lack of robust clinical validation; and the risks identified under
the heading “Risk Factors” in Orthofix Medical Inc.’s Annual Report
on Form 10-K for the fiscal year ended December 31, 2023, which was
filed with the Securities and Exchange Commission (SEC) on March 5,
2024. The Company’s public filings with the Securities and Exchange
Commission are available at www.sec.gov. You are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date when made. Orthofix does not intend to revise
or update any forward-looking statement set forth in this news
release to reflect events or circumstances arising after the date
hereof, except as may be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240611316728/en/
Media Relations Denise Landry DeniseLandry@Orthofix.com
214.937.2529 Investor Relations Julie Dewey
JulieDewey@Orthofix.com 209.613.6945
Orthofix Medical (NASDAQ:OFIX)
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