Orthofix Medical Inc. (NASDAQ:OFIX) announced leadership changes within its spine division while also reporting preliminary net sales for the first quarter of 2026, according to a company press release.
The medical technology firm has removed the position of President, Global Spine Solutions, with senior spine executives now reporting directly to Chief Executive Officer Massimo Calafiore. As part of the restructuring, Shaeffer Bannigan has been promoted to Leader, Spinal Solutions, where he will oversee spine strategy, commercial operations, and product portfolio innovation. Mark Sienkiewicz will continue serving as Vice President of U.S. Sales with a focus on expanding the distributor network, while John Winge remains Vice President of Spine Commercial Strategy, concentrating on the 7D FLASH Navigation System.
Patrick Fisher, who previously led the Limb Reconstruction business, has also taken on responsibility for the company’s Biologics segment.
Orthofix reported preliminary first-quarter net sales of about $196.7 million, including revenue generated from its M6 artificial cervical and lumbar disc products. Excluding M6 disc sales, non-GAAP pro forma net sales totaled roughly $196.4 million, reflecting a 0.4% increase on a reported basis and 3% growth on a constant-currency, non-GAAP pro forma basis compared with the same quarter in 2025.
The company reiterated its full-year 2026 outlook, forecasting net sales in the range of $850 million to $860 million. At the midpoint, this represents about 5.5% year-over-year growth on a pro forma constant-currency basis. Orthofix also expects non-GAAP adjusted EBITDA of between $95 million and $98 million and anticipates generating positive free cash flow in 2026, excluding the potential impact of legal settlements.
Orthofix plans to publish its full first-quarter 2026 financial results on May 5, 2026, before the market opens, followed by a conference call scheduled for 8:30 a.m. Eastern Time.