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Year in Review

More 2010 Results: Orthofix

$546.3MM, +8% (Trinity Evolution ~$30MM)
* Spine $306.4MM, +10% (Stimulation $172.5MM, +9%, Implants/Biologics $133.9MM, +11%)
* Orthopaedic $144.4MM, +10%
* Sports Medicine $95.5MM, -1%

4Q10 revenue:
$141.3MM, +6%
* Spine $78.7MM, +6% (Stimulation $42.4MM, +1%, Implants/Biologics $36.3MM, +11%)
* Orthopaedic $37.5MM, +8%
* Sports Medicine $25.1MM, +9%

* Implants/Biologics not significantly impacted by current pricing/volume pressures
* Spinal stim growth challenged by reimbursement, ongoing investigations of bone growth stim business (may present disruptions to sales force); headwinds will continue through 1H11
* Noting very little overlap with NuVasive accounts in biologics
* Ex-U.S., notes double-digit orthopaedic and spine growth in Brazil; expecting excellent growth in Japan over 3-5 years
* 2011 new products include deformity and MIS modules for Firebird pedicle screw, novel interbody product line, rounding out biologics