TickerOFIX
SectorMedical - Devices
Mkt cap$471M
EV / EBITDA6.1×
PostureHigh Velocity
Composite70/100
LensTarget-side

SE-Cluster Research·Issuer Brief·Q2 2026CIK 884624

Orthofix Medical Inc.

OFIXHIGH VELOCITYFILING INTENSITY

Orthofix Medical Inc. reads as High Velocity (composite 70/100); pressure / disclosure signals dominate the posture this cycle · primary market Life Sciences.

Lens

Disclosed M&A capital (2023–2025)

N/A

−99%

vs N/A in 2020–2022

Disclosed transactions

N/A

−99%

0/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

/100

High Velocity dominates · Filing Intensity

Financial snapshotRevenue$825M
EBITDA$96M
Enterprise value$585M
EV / Revenue0.7×
EV / EBITDA6.1×
P/EN/A
Cash$120M
Total debt$221M
as of 2026-05-10

§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

26/100

Companies actively deploying disclosed capital into M&A

$591M disclosed buyer spend

Buyer Cadence

19/100

Buyer-side companies with recent filing activity

Filed within 35d
336 8-Ks

Target Probability

20/100

Issuers showing target-side patterns from filings

5 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

5 activism filings

Pressure Watch

35/100

Issuers facing activism, governance, or control pressure

5 activism filings
Latest activism 2.1y ago; discounted

Distress Watch

18/100

Issuers showing financial-distress filing patterns

5 activism filings

Restatement Risk

6/100

Issuers with accounting-integrity flags from filings

2 non-reliance 8-Ks
6 NT late filings
Latest event 11y ago; heavily discounted

Capital Velocity

Dominant

70/100

Issuers with the highest filing-activity intensity

336 8-Ks
5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

Enterprise value $585M
10-Q 35d ago
3 active signals

§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $44M · Peak count: 2

FY	Disclosed buys	Disclosed spend	Avg ticket	Audited tier
2025	N/A	N/A	N/A	N/A
2024	N/A	N/A	N/A	N/A
2023	N/A	N/A	N/A	N/A
2022	N/A	$18M	N/A	N/A
2021	N/A	N/A	N/A	N/A
2020	2	$18M	$9M	N/A

§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

Bolt On
20%
Technology Acquisition
20%
Horizontal Consolidation
20%
Geographic Expansion
20%
Platform
20%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

bolt_on
technology_acquisition
horizontal_consolidation
geographic_expansion
platform

§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

“our expectations regarding the benefits and integration of acquired businesses and/or products (including in connection with our merger with SeaSpine in January 2023) and our ability to make future acquisitions and successfully integrate any such future-acquired businesses”

10-KFY2023

“Consolidation and Reorganization of Businesses—We have announced several initiatives to consolidate and reorganize our current businesses into global business units as well as relocate our executive offices to our new facility in Lewisville, TX.”

10-KFY2010

“Our business may be adversely affected if consolidation in the healthcare industry leads to demand for price concessions or if a group purchasing organization ("GPO") or similar entity excludes us from being a supplier.”

10-KFY2024

“During 2010, we closed certain facilities in the U.S. and Mexico and we subleased our facility in Boston, MA.”

10-KFY2010

“Consolidation and Reorganization of Businesses – During 2009, we continued our plan to consolidate and reorganize our spine business which will combine the current operations of our Spine Implants business in New Jersey and Massachusetts into our Texas facility which currently houses our spine stimulation and U.S. orthopedics operations.”

10-KFY2009

§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Life Sciences

Market spend (2023–2025): $68.3B
Market spend (2020–2022): $107.5B
Recent vs prior: −36%
Issuer rank in market: N/A
Share of market capital: 0.0%

Valuation positioning

6.1×EV / EBITDA

OFIX trades at a -10.0-turn discount to the Life Sciences peer median of 16.1×.

EV / Revenue: 0.7×
Net debt / EBITDA: 1.1×
Peer median EV / EBITDA: 16.1×

Trading comparables

FMP market data · 2026-05-10

Company	EV / EBITDA	EV / Rev	Net debt / EBITDA	Revenue	M&A 2023–2025
Thermo Fisher Scientific Inc.TMO	19.1×	4.7×	-0.0×	$45.2B	$10.8B
Boston Scientific Corp.BSX	18.8×	4.3×	-0.3×	$20.6B	$8B
Medtronic plcMDT	13.3×	3.5×	-0.1×	$35.5B	$2.2B
Labcorp Holdings Inc.LH	13.1×	1.9×	-0.2×	$14.1B	$2.1B
Orthofix Medical Inc.OFIX	6.1×	0.7×	1.1×	$825M	N/A

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Life Sciences. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

10-K (annual)372026-02-24
10-Q (quarterly)722026-05-05
8-K (event)3362026-05-05
Proxy / DEF 14A722026-04-29
Activism (13D / DFAN / PREC)52024-04-22

Signals on file

critical
Non-reliance disclosure
2014-08-19
2 Item 4.02 filings on file; financial-statement non-reliance.
watch
Late-filing notice
2015-05-12
6 NT 10-K/10-Q filings on file.
elevated
Activism on file
2024-04-22
5 activist filings on file (13D, DFAN14A, PREC14A series).
info
Signal
Serial acquisition history
info
Signal
10-K strategy themes
info
Signal
Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

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