LEWISVILLE, Texas--(BUSINESS WIRE)--Orthofix Medical Inc. (NASDAQ:OFIX), a global medical device company focused on musculoskeletal products and therapies, today announced that it has acquired the business of Options Medical, LLC, a medical device distributor based in Florida.
“Options Medical has been a successful distributor for our Bone Growth Therapies devices for many years,” said Brad Niemann, President of Global Orthofix Spine. “We are pleased to have this established and proven partner join the Orthofix team as a part of our direct sales force.”
Under the terms of the agreement, employees of Options Medical became employees of Orthofix effective February 1, 2019.
“Options Medical started in North Central Florida as a small team of hard working individuals who wanted to provide the best in medical device solutions to physicians,” said Beth Stevenson, Distributor Principal and founder of Options Medical. “Today I am proud to say we have grown into a team of 40 plus who cover the states of Florida and Connecticut. We are excited to become a part of Orthofix and look forward to continuing our record of success for many years to come.”
Orthofix Medical Inc. is a global medical device company focused on musculoskeletal products and therapies. The Company’s mission is to improve patients' lives by providing superior reconstruction and regenerative musculoskeletal solutions to physicians worldwide. Headquartered in Lewisville, Texas, Orthofix’s spine and orthopedic extremities products are distributed in more than seventy countries via the Company's sales representatives and distributors. For more information, please visit www.orthofix.com.
As an inducement to enter into employment with Orthofix, Beth Stevenson was granted restricted stock units representing 25,478 shares of Orthofix common stock. The award vests in one-third annual increments beginning on the first anniversary of grant. The grant, which was approved by Orthofix’s Board of Directors, was made under a standalone inducement award agreement approved pursuant to NASDAQ Marketplace Rule 5635(c)(4).
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