Healthcare Industry News: Orthofix
News Release - April 15, 2009
Orthofix International Announces New Agreement To Expand Distribution of Spine Implants in the U.K.BOSTON--(HSMN NewsFeed)--Orthofix International N.V. (NASDAQ: OFIX ) (the Company) announced today it has signed an agreement with the MBA Group (MBA) to expand the distribution of the Company’s spine implant and biologic devices in the United Kingdom.
As the largest private independent distributor of orthopedic devices in Europe, MBA generated more than $100 million in total sales in 2008. After having been Orthofix’s exclusive distributor of orthopedic devices in Spain and Portugal for more than 20 years, MBA expanded their relationship with Orthofix in 2008 becoming the Company’s exclusive distributor of spine implant products in Spain and Portugal. The new five-year agreement with MBA is effective as of May 1st.
“MBA has been a key partner during Orthofix’s growth over the last 20 years and, after successfully expanding our relationship last year to include the distribution of our spine implant products in Spain and Portugal, we are excited to further expand our spine distribution agreement with them into the important U.K. market,” said Alan Milinazzo, President and CEO of Orthofix International.
Paul Griffin, MBA’s Chief Operating Officer and a member of their Board of Directors said “MBA’s excellent and long-standing relationship with Orthofix, together with our very successful 2008 spine launch led to this latest agreement after the management teams from both organisations met to explore opportunities to further expand our mutually beneficial strategic partnership.”
Mr. Griffin added, “The U.K. is one of Europe's top five spine markets, and by combining Orthofix's extensive spine product portfolio with MBA's highly experienced UK management team and marketing know-how, we feel confident in our plans to develop a very successful business together in this key market. MBA has an excellent and long-established international reputation for marketing and distributing medical devices, an unparalleled reputation for customer service in Spain, Italy and Portugal and is now ready to expand these services into other key areas in Europe.”
Orthofix International, N.V., a global medical device company, offers a broad line of minimally invasive surgical, and non-surgical, products for the spine, orthopedic, and sports medicine 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 Blackstone Medical, Inc., and via partnerships with other leading orthopedic product companies. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Musculoskeletal Transplant Foundation, the Orthopedic Research and Education Foundation, Rutgers University, Texas Scottish Rite Hospital for Children and National Osteoporosis Institute. For more information about Orthofix, please visit www.Orthofix.com.
This communication contains certain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may include, but are not limited to, statements concerning the projections, financial condition, results of operations and businesses of Orthofix and its subsidiaries 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 expected sales of its products, including recently launched products, 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 and interpretation of 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, corporate development and market development activities, including acquisitions or divestitures, unexpected costs or operating unit performance related to recent acquisitions and other factors described in our annual report on Form 10-K and other periodic reports filed by the Company with the Securities and Exchange Commission.
Source: Orthofix International
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