Orthofix Medical Reshapes Spine Leadership Team

By Chris Stiles • Thursday, April 09 11:21 • Permanent Link

Orthofix Medical said it is reshaping its spine leadership team and reported a modest increase in first-quarter sales as it heads into the rest of 2026.

The company eliminated the role of president, global spine solutions and moved key spine leaders to report directly to CEO Massimo Calafiore. Shaeffer Bannigan, previously senior vice president global spinal solutions, has taken on an expanded role as leader of spinal solutions, with responsibility for spine strategy, commercial operations and portfolio innovation. Mark Sienkiewicz remains in charge of U.S. spinal implant sales, with a focus on distributor expansion and onboarding. John Winge will lead commercial strategy for the 7D Flash navigation system. Patrick Fisher, who heads limb reconstruction, has also taken over the biologics business.

Orthofix said the changes are meant to speed decision-making and improve execution around commercialization of the 7D navigation platform.

For the first quarter ended March 31, 2026, Orthofix reported preliminary net sales of $196.7 million, up from $193.6 million a year earlier. That was a 1.6% increase on a reported basis and a 0.4% rise on a constant-currency basis.

On a pro forma basis, excluding the discontinued M6 product lines, first-quarter net sales were $196.4 million, compared with $189.2 million in the same period last year. That marked 3.8% growth, or 2.7% on a constant-currency basis.

The discontinued M6 product lines contributed $0.3 million in sales in the quarter, down sharply from $4.4 million a year earlier.

For the full year 2026, Orthofix reaffirmed guidance for net sales of $850 million to $860 million. At the midpoint, that implies about 5.5% year-over-year pro forma constant-currency growth. The company also kept its adjusted EBITDA outlook at $95 million to $98 million, implying 70 basis points of margin expansion at the midpoint versus 2025.

Orthofix said it expects free cash flow to be positive for 2026, excluding any potential legal settlements. Today the company's shares have moved -1.17% to a price of $11.79. For more information, read the company's full 8-K submission here.

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