Healthcare Industry News: Innovative Spinal Technologies
News Release - February 6, 2006
Orthofix Appoints Dan Yarbrough as Company's Director of Investor Relations"Dan's proven ability to work effectively with senior corporate management while driving the investor relations function for one of the largest HMOs in the country make him the ideal executive to support our IR strategy."
Charles W. Federico, Group President and CEO, Orthofix
HUNTERSVILLE, N.C.--(HSMN NewsFeed)--Feb. 6, 2006--Orthofix International N.V. (NASDAQ: OFIX ) announced today that Dan Yarbrough has joined the Company as its Director of Investor Relations, effective immediately.
Mr. Yarbrough joins Orthofix from PacifiCare Health Systems, Inc., where he has been employed since May 1999, most recently as PacifiCare's Director of Investor Relations. PacifiCare is one of the largest HMOs in the United States, serving more than three million members and generating approximately $14 billion in annual revenues. Mr. Yarbrough's responsibilities at PacifiCare included development of relationships with current and potential buy side investors and sell side analysts, including coordination of meetings, conferences and road shows. He joined PacifiCare in May 1999 as Finance Manager for Mergers & Acquisitions, where he was the liaison between the corporate accounting/finance functions and the Business Development department, primarily responsible for identification and resolution of accounting issues arising in conjunction with PacifiCare's merger, acquisition and divestiture activities. He has been an Instructor in Investor Relations at the University of California-Irvine Extension, and obtained his CPA (Certified Public Accounting) license in September 1984. Mr. Yarbrough holds a degree in accounting from the University of Texas at Austin.
"We expect Dan to serve as an important interface with shareholders and potential shareholders," said Charles W. Federico, Group President and CEO, Orthofix. "His knowledge of the healthcare industry and Wall Street will enable him to effectively tell Orthofix's great story: consistent financial performance, sustainable competitive advantages and expanding markets combined with a stellar reputation, worldwide reach and healthy balance sheet. He will lead our IR function, communicating the company's aggressive external growth strategy via acquisitions, licensing agreements and distribution opportunities," added Mr. Federico.
About Orthofix International, N.V.
Orthofix International N.V., a global diversified orthopedic products company, offers a broad line of minimally invasive surgical, as well as non-surgical, products for the spine, reconstruction, and trauma market sectors that address the lifelong bone-and-joint health needs of patients of all ages, helping them achieve a more active and mobile lifestyle. Orthofix's products are widely distributed around the world to orthopedic surgeons and patients via Orthofix's sales representatives and its subsidiaries, including Breg, Inc., and via partnerships with other leading orthopedic product companies, such as Medtronic Sofamor Danek and Kendall Healthcare. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Orthopedic Research and Education Foundation, the Cleveland Clinic Foundation, Innovative Spinal Technologies and the National Osteoporosis Institute. For more information about Orthofix, please visit www.orthofix.com.
This news release contains certain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but are not limited to, statements concerning the projections, financial condition, results of operations and businesses of Orthofix, and are based on management's current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Factors that could cause or contribute to such differences may include, but are not limited to, risks relating to the integration of the businesses of Orthofix and Breg, unanticipated expenditures, changing relationships with customers, suppliers and strategic partners, risks relating to the protection of intellectual property, changes to the reimbursement policies of third parties, changes to governmental regulation of medical devices, the impact of competitive products, changes to the competitive environment, the acceptance of new products in the market, conditions of the orthopedic industry and the economy and other factors described in the most recent report on Form 10-K and other periodic reports filed by Orthofix with the Securities and Exchange Commission.
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