Orthofix Medical Inc. has announced its second-quarter 2022 financial results, according to a company press release.
The company reported $118.1 million in net sales during the second quarter of 2022, a 3% decrease from the prior year period. However, Orthofix also reported an 11% increase in net sales from its global orthopedics business.
“We’re pleased with our execution in the second quarter, which was led by double-digit growth in our global orthopedic business, as well as early commercial traction of new spine products,” Jon Serbousek, president and CEO of Orthofix, said in the release. “We remain incredibly bullish on the long-term opportunity here at Orthofix. While the macro environment is causing near-term volatility, we are fully committed to driving accelerated topline growth in the high single digits and continuing to execute toward increasing profitability. With the strength of our balance sheet, as well as organic and inorganic investments made throughout the organization, we will work to continue to drive growth over the near term from key new product launches and channel expansion,” Serbousek added.