Business Description

We are a global medical device company focused on helping patients recover and live life to the fullest by relieving pain and addressing musculoskeletal challenges through a diverse portfolio of high-quality, innovative, and clinically-proven solutions. We manage our business through two reporting segments, U.S. and International, which accounted for 88% and 12%, respectively, of our total net sales during the fiscal year ended December 31, 2025. Our portfolio of products is comprised of five patient-focused areas, grouped into three businesses based on clinical use: (i) Pain Treatments & PRP (“Pain Treatments”), (ii) Surgical Solutions and (iii) Restorative Therapies. • Pain Treatments , consisting of: ◦ Knee Osteoarthritis (“KOA”) : Our product portfolio includes a range of intra-articular, hyaluronic acid (“HA”) injections that help relieve patient discomfort and improve quality of life. In the U.S., we also distribute the XCELL Platelet-Rich Plasma (“PRP”) system, a technology that is synergistic with our existing physician call points, as many surgeons who use HA also use PRP. ◦ Peripheral Nerve Stimulation (“PNS”) : We are focused on developing and commercializing a full portfolio of peripheral nerve stimulation products with solutions for acute, temporary and chronic pain. • Surgical Solutions , consisting of: ◦ Ultrasonics: Our Ultrasonics business offers precision bone resection for patients with degenerative spine conditions and spinal deformities. This portfolio also enables precision bone cutting in ultrasonic neuro and general surgery to address brain tumors and pathologies of the liver and other organs. ◦ Bone Graft Substitutes (“BGS”) : Our BGS product portfolio includes a range of products that facilitate optimal bone fusion following a surgical procedure. • Restorative Therapies , consisting of: ◦ Fracture Care: We provide low-intensity pulse ultrasound to help patients who suffer from bone fractures that do not heal through traditional methods. We plan to expand our U.S. clinical fracture care indications to address the healing of additional fresh fractures, especially for high-risk patients. Financial information regarding our reportable business segments is included in Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Part II, Item 8. Financial Statements and Supplementary Data—Notes to the Consolidated Financial Statements—Note 14. Segments of this Annual Report. Our products are described in additional detail below under “Our Products.” Our Growth Strategy The four-pronged strategy to reach our goals across our patient-focused areas includes the following: 1) Strengthen our leading positions in our core markets. We are focused on continued market share growth of our differentiated HA, BGS and Fracture Care products, which account for the majority of our sales today, through targeted high-potential account execution. This will provide investment for the continued expansion of our Ultrasonics and International businesses and enable growth in our emerging markets in PNS and PRP. 2) Continued investment in our new emerging technologies . We plan to initiate full commercial launches of StimTrial and Talismann, while the PRP system will be sold through our existing HA sales force. 3) Further develop and expand our Ultrasonics platform business . We are focused on establishing BoneScalpel as a standard of care for spine applications by accelerating market penetration in spinal surgery through increased surgeon education and awareness. In parallel, we plan to leverage the versatility of our neXus platform and its existing install base to expand into additional specialties like neurosurgery and general surgery. 4) Strategically grow our international markets . We intend to focus our international business on current markets which present the greatest growth opportunities, and where our portfolio can maintain and increase profitable growth over time, either through direct or distributor-based channels.…