Healthcare Industry News: Orthofix
News Release - January 11, 2011
Orthofix International Promotes Robert S. Vaters to Chief Operating OfficerLEWISVILLE, Texas--(Healthcare Sales & Marketing Network)-- Orthofix International N.V. (NASDAQ:OFIX ) (the Company) today announced that Robert S. Vaters has been promoted to Chief Operating Officer, effective immediately. Mr. Vaters who has served as the Company’s Chief Financial Officer since joining the Company in September of 2008 will now be responsible for the operations of the company and continue to report to Alan Milinazzo the company’s President and Chief Executive Officer. “Since joining Orthofix Bob has had a positive impact on key drivers of the Company. This promotion recognizes his contribution to our success over the last two years and we look forward to his continued success with his new responsibilities,” stated Mr. Milinazzo.
In addition, the Company announced the appointment of Brian McCollum to interim Chief Financial Officer, effective immediately. Mr. McCollum has been with the Company in various roles of increasing responsibilities over the past nine years most recently as its Senior Vice President of Finance. On an interim basis, Mr. McCollum will be responsible for all financial activities of the Company including investor relations.
Orthofix International, N.V. is a global medical device company offering 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, and via collaborations with other leading orthopedic product companies. In addition, Orthofix is collaborating and investing in R&D activities with leading medical institutions such as the Musculoskeletal Transplant Foundation, the Orthopedic Research and Education Foundation, The University of Medicine and Dentistry of New Jersey and the 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, strategic partners and lenders, changes to and the interpretation of governmental regulations, ongoing litigation matters and governmental investigations of our businesses which could result in civil or criminal liability or findings of violations of law (as further described in the “Legal Proceedings” sections of our annual report on Form 10-K, quarterly reports on Form 10-Q, and our report on Form 8-K dated June 23, 2010), risks relating to the protection of intellectual property, changes to the reimbursement policies of third parties, the impact of competitive products, changes to the competitive environment, the acceptance of new products in the market, conditions of the orthopedic industry, credit markets 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 (SEC).
Source: Orthofix International
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