Exhibit 99.1

HUNTERSVILLE, N.C., May 8, 2007- Orthofix International N.V., (NASDAQ:OFIX) (the Company) announced today that total revenue for the first quarter ended March 31, 2007 was $117 million, an increase of 44% over the first quarter of 2006. This included $26.4 million from Blackstone Medical, Inc. (Blackstone), which was acquired in September of 2006. Excluding Blackstone’s revenue, Orthofix’s first quarter sales rose 12% over the prior year. The impact of foreign currency on sales for the first quarter of 2006 was a positive $2.0 million.

Reported first quarter earnings totaled $6.3 million, or $0.37 per diluted share. This included approximately $460,000 ($325,000 net of tax, or $0.02 per share) in professional fees related to a potential refinancing of the Company’s outstanding debt that was considered during the first quarter. Adjusted net income, excluding specified non-cash items, was $0.68 per diluted share.

“Orthofix’s core business sectors continued to produce strong revenue growth, reflecting the positive benefits of both the Blackstone acquisition and the broad-based restructuring initiatives we began last year,” said CEO Alan Milinazzo. “In addition to the strong year-over-year revenue growth in our spine sector from the acquisition, revenue increases in our orthopedic and sports medicine businesses represent organic growth resulting from recent new product introductions.”

The table below presents a reconciliation between net income calculated in accordance with generally accepted accounting principles (GAAP) and two non-GAAP financial measures, referred to as “adjusted net income” and “adjusted net income, excluding specified non-cash items”, that exclude from net income the items specified in the table. Management believes it is important to provide investors with the same non-GAAP metrics which it uses to supplement information regarding the performance and underlying trends of Orthofix’s business operations, facilitate comparisons to its historical operating results and internally evaluate the effectiveness of the Company’s operating strategies. A more detailed explanation of the items in the table below that are excluded from GAAP net income, as well as why management believes the non-GAAP measures are useful to them, is included in the Regulation G Supplemental Information schedule attached to this press release.

First Quarter

Q107

Q106

($000's)

EPS

($000's)

EPS

Reported GAAP net income

6,267

0.37

8,246

0.51

Specified Items:

Proceeds from litigation settlement

---

($1,089

)

($0.06

)

Senior management transition costs

---

1,174

0.07

Professional fees related to potential debt refinancing

325

0.02

---

Adjusted net income

6,592

0.39

8,331

0.52

Specified non-cash items:

Non-cash BREG amortization

861

0.05

900

0.05

Non-cash Blackstone amortization

2,400

0.14

---

Equity compensation expense (FAS 123R)

1,628

0.10

946

0.06

Adj. net income, excluding specified non-cash items

11,481

0.68

10,177

0.63

Orthofix also announced that for the second quarter of 2007 it expects to generate $120-$125 million of total revenue. Second quarter earnings per diluted share are expected to be $0.41 to $0.46, and adjusted net income, excluding specified non-cash items is expected to be $0.70 to $0.75 per share. Based on revised expectations for a lower gross margin as a percentage of revenues for the remainder of 2007, the Company reduced its full-year earnings estimate by $0.08 per share, and now expects to report $1.86 to $1.96 per share, and $3.06 to $3.16 per share in adjusted earnings, excluding specified non-cash items.

This guidance includes the impact of non-cash equity compensation expenses that the Company now expects will total $0.38 per share for the remainder of 2007, or $0.14 per share higher than originally estimated. It also includes the impact of a revised estimated full-year tax rate of 28% to 30%, which is lower than the range of 34%-35% previously expected.

Total first quarter sales in the Company’s spine sector grew 101% year-over-year, to $56.1 million. Implant and biologic revenues from Blackstone were $26.4 million, which was an increase of 43% compared with their first quarter sales in 2006, prior to the acquisition by Orthofix. This growth was due primarily to higher sales of implant products, including ICON™ minimally-invasive pedicle screw systems, Unity™ Anterior Lumbar Plating Systems, Construx™ vertebral body replacement devices and Pillar™ interbody devices. Additionally, revenue from Blackstone’s biologic portfolio increased primarily due to higher sales of Trinity™ bone growth matrix. Revenue from Orthofix’s market-leading spine stimulation devices rose 7% year-over-year on an 11% increase in unit volume. The growth was driven primarily by the continued strength of the Company’s Cervical-Stim™, which is the only FDA-approved stimulator for the cervical spine.

Revenue from Orthofix’s orthopedic business grew 21% percent, to $27.6 million, compared with the prior year. The increase was driven by the continued growth of the Company’s internal fixation and deformity correction devices, as well as 18% growth in sales of the Physio-Stim™ bone growth stimulator for non-union fractures. Together, these products represented approximately 23% of total orthopedic revenue in the first quarter.

The Company’s sports medicine sector revenue rose 10% year-over-year, to $21.2 million, primarily due to U.S. sales increases of 9% from its functional knee braces, including its innovative lines of FUSION™ braces, and 12% from its cold therapy products, including its PolarCare™ line of pain management devices.

The gross margin percentage in the first quarter of 2007 expanded by 20 basis points year-over-year, to 73.7%, primarily as a result of the increase in sales of higher margin spine stimulation products and the inclusion of Blackstone’s higher margin spine implant revenues, as well as ongoing operational improvement initiatives. The first quarter gross margin included the impact of approximately $930,000 in non-cash amortization expense associated with the step-up in inventory recorded as part of the purchase accounting for the Blackstone acquisition.

Sales and marketing expenses as a percent of revenue increased by 10 basis points year-over-year, to 38.1%, while general and administrative (G&A) expenses decreased by 150 basis points, to 13.9% of sales. The decrease in G&A expenses was primarily attributed to $1.7 million in management transition costs incurred in the first quarter of the prior year, partially offset by approximately $460,000 of professional fees related to a potential refinancing of the Company’s outstanding debt that was considered during the first quarter.

Additionally, the Company recognized non-cash stock compensation expense of approximately $2.4 million ($1.6 million net of tax, or $0.10 per share), which was $0.02 per share higher than previously expected. This compares with $1.3 million ($946,000 net of tax, or $0.05 per share) in the first quarter of 2006.

Orthofix reported first quarter net interest expense of $5.7 million, compared with approximately $145,000 in 2006. The year-over-year increase was mainly a result of debt incurred in connection with the Blackstone acquisition. Other expenses of $556,000 were $505,000 higher than the prior year due primarily to non-cash foreign currency exchange losses.

The tax rate in the first quarter was approximately 28%, which was below the Company’s previous full-year 2007 expectation of 34%-35%. Primarily as a result of the current operational structure of the Company, including benefits of the international restructuring in 2006, as well as the mix of revenues generated within and outside of the U.S., the Company now expects the full-year 2007 tax rate to be approximately 28%-30%.

Orthofix will host a conference call today at 11:00 AM Eastern Time to discuss the Company’s financial results for the first quarter of 2007. Interested parties may access the conference call by dialing (866) 626-7622 in the U.S., and (706) 758-3283 outside the U.S., and providing the conference ID 4511322. A replay of the call will be available for one week by dialing (800) 642-1687 in the U.S., and (706) 645-9291 outside the U.S., and entering the conference ID 4511322.

Orthofix International, N.V., a global diversified orthopedic products company, offers a broad line of minimally invasive surgical, and non-surgical, products for the spine, orthopedic, and sports medicine market sectors that address the lifelong bone-and-joint health needs of patients of all ages-helping them achieve a more active and mobile lifestyle. Orthofix’s products are widely distributed around the world to orthopedic surgeons and patients via Orthofix’s sales representatives and its subsidiaries, including BREG, Inc. and Blackstone Medical, Inc., and via partnerships with other leading orthopedic product companies including Kendall Healthcare. In addition, Orthofix is collaborating in R&D partnerships with leading medical institutions such as the Orthopedic Research and Education Foundation, Rutgers University, the Cleveland Clinic Foundation, and National Osteoporosis Institute. For more information about Orthofix, please visit www.orthofix.com.

This communication contains certain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which may include, but are not limited to, statements concerning the projections, financial condition, results of operations and businesses of Orthofix and its subsidiaries and are based on management’s current expectations and estimates and involve risks and uncertainties that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements.

Factors that could cause or contribute to such differences may include, but are not limited to, risks relating to the expected sales of its products, including recently launched products and those sold by recently acquired subsidiaries, unanticipated expenditures, changing relationship with customers, suppliers and strategic partners, risks relating to the protection of intellectual property, changes to the reimbursement policies of third parties, changes to governmental regulation of medical devices, the impact of competitive products, changes to the competitive environment, the acceptance of new products in the market, conditions of the orthopedic industry and the economy, corporate development and market development activities, unexpected costs or operating unit performance related to recent acquisitions and other factors described in our annual report on Form 10-K and other periodic reports filed by the Company with the Securities and Exchange Commission.

	For the three months
	ended March 31,
	2007			2006

Net sales	$	117,032		$	81,116
Cost of sales		30,796			21,459
Gross profit		86,236			59,657

Operating expenses
Sales and marketing		44,583			30,788
General and administrative		15,906			12,475
Research and development		6,337			2,964
Amortization		4,468			1,770
		71,294			47,997

Operating income		14,942			11,660

Interest income (expense), net		(5,664	)		(145	)
Other income/(loss), net		(556	)		(52	)
KCI settlement, net of litigation costs		0			1,093
Income before minority interests and income tax		8,722			12,556

Minority interests		(43	)		0
Income before income tax		8,679			12,556

Income tax expense		(2,412	)		(4,310	)
Net income	$	6,267		$	8,246

Net income per common share - basic	$	0.38		$	0.51

Net income per common share - diluted	$	0.37		$	0.51

Weighted average number of common shares outstanding - basic		16,464,571			16,020,250

Weighted average number of common shares outstanding - diluted		16,926,257			16,184,755

	As of		As of
	March 31,		December 31,
	2007		2006

Assets
Current assets:
Cash and cash equivalents	$	21,805	$	25,881
Restricted cash		5,897		7,300
Trade accounts receivable		108,754		104,662
Inventory		78,127		70,395
Deferred income taxes		9,020		6,971
Prepaid expenses and other		21,307		18,759
Total current assets		244,910		233,968

Securities and other investments		4,082		4,082
Property, plant and equipment, net		26,778		25,311
Goodwill and Intangible assets, net		572,081		574,229
Deferred taxes and other long-term assets		25,640		24,695
Total assets	$	873,491	$	862,285

Liabilities and shareholders' equity
Current liabilities:
Bank borrowings	$	2,738	$	78
Current portion of long-term debt		3,300		3,334
Trade accounts payable		21,104		26,051
Other current liabilities		38,958		31,577
Total current liabilities		66,100		61,040

Long-term debt		307,255		312,055
Deferred income taxes		94,271		95,019
Other long-term liabilities		1,637		1,536
Total liabilities		469,263		469,650


Shareholders' equity
Common shares		1,651		1,645
Additional paid-in capital		131,723		128,297
		133,374		129,942

Retained earnings		254,700		248,433
Accumulated other comprehensive income		16,154		14,260
Total shareholders' equity		404,228		392,635

Total liabilities and shareholders' equity	$	873,491	$	862,285

	For three months ended March 31,
	2007			2006

Net cash provided by operating activities	$	1,596		$	1,771

Cash flows from investing activities:
Investment in subsidiaries and affiliates		(985	)		(1,108	)
Capital expenditure		(4,571	)		(1,618	)
Net cash used in investing activities		(5,556	)		(2,726	)

Cash flows from financing activities:
Net repayment of loans and borrowings		(2,203	)		(15,092	)
Proceeds from issuance of common stock		1,637			637
Tax benefit on non-qualified stock options		396			53
Net cash used in financing activities		(170	)		(14,402	)

Effect of exchange rate changes on cash		54			176

Net decrease in cash and cash equivalents		(4,076	)		(15,181	)
Cash and cash equivalents at the beginning of the period		25,881			63,786
Cash and cash equivalents at the end of the period	$	21,805		$	48,605

	Three Months Ended March 31,
	2007		2006		% Increase

Orthopedic Products
Spine	$	56.1	$	27.9		101	%
Orthopedics		27.6		22.9		21	%
Sports Medicine		21.2		19.2		10	%
		104.9		70.0		50	%

Vascular		4.9		5.3		-8	%
Other		7.2		5.8		24	%

Total	$	117.0	$	81.1		44	%

Section 1 includes a table that reconciles the Company’s 2007 estimates for net income per share calculated in accordance with generally accepted accounting principles (GAAP) and a non-GAAP financial measure, referred to as “adjusted net income, excluding additional specified non-cash items”, that is also expressed as a per share amount and excludes from net income the items specified in the table.

Section 2 contains explanations of each of the specified items and additional non-cash specified items listed in the Reconciliation of Non-GAAP Performance Measures for the 1st quarters of 2007 and 2006 that is included in the body of this release, and the Reconciliation of a Non-GAAP Guidance Measure included below in Section 1 of this supplemental schedule.

	EPS
	FY 2007		Q207
Estimated GAAP net income	$1.86-$1.96		$0.41-$0.46

Specified non-cash items

Equity compensation expense (FAS 123R)	$	0.48	$	0.10
Amortization related to BREG purchase accounting	$	0.19	$	0.05
Amortization related to Blackstone purchase accounting	$	0.53	$	0.14

Adjusted net income, excluding specified non-cash items		$3.06-$3.16		$0.70-$0.75

Professional fees related to potential debt refinancing - professional fees incurred in connection with the potential refinancing of the Company outstanding debt, which was being considered during the first quarter. Any further consideration has been deferred pending clarification of possible changes to the relevant accounting rules that are currently under review by the governing bodies within the accounting profession.

Non-cash Blackstone amortization- non-cash amortization of purchase accounting items associated with the acquisition of Blackstone Medical, net of tax. This includes amortization related to intangible assets as well as the step-up of inventory being amortized as a part of the cost of goods sold.

Management uses the two non-GAAP measures, referred to as “adjusted net income” and “ adjusted net income, excluding additional specified non-cash items”, to evaluate performance period over period, to analyze the underlying trends in the Company's business, to assess its performance relative to its competitors, and to establish operational goals and forecasts that are used in allocating resources. In addition, following the Company's acquisition of Blackstone Medical, and the related increase in Orthofix’s debt, management has increased its focus on cash generation and debt reduction. Management uses these non-GAAP measures as the basis for assessing the ability of the underlying operations to generate cash for use in paying down debt. In addition, management uses these non-GAAP measures to further its understanding of the performance of the Company's business segments. The items excluded from Orthofix’s non-GAAP measures are also excluded from the profit or loss reported by the company’s business segments for the purpose of analyzing their performance.

Non-GAAP adjusted net income and the per share amounts based on this measure, as well as non-GAAP adjusted net income, excluding additional specified non-cash items, and the per share amounts based on this measure, may have limitations as analytical tools, and these non-GAAP measures should not be considered in isolation or as a replacement for GAAP financial measures. Some of the limitations associated with the use of these non-GAAP financial measures are that they exclude items that reflect an economic cost to the company and can have a material effect on cash flows. For example, the amortization of purchased intangible assets does not directly affect Orthofix’s cash flows, however, it does represent the reduction in value of those assets over time, and the expense associated with this reduction in value is not included in the company’s non-GAAP measures. Similarly, stock compensation expense does not directly impact cash flows, but is part of total compensation costs accounted for under GAAP.

Orthofix compensates for the limitations of its non-GAAP financial measures by relying upon its GAAP results to gain a complete picture of the Company's performance. The GAAP results provide the ability to understand the Company’s performance based on a defined set of criteria. The non-GAAP numbers reflect the underlying operating results of the Company’s businesses, excluding non-operating or unusual items, which management believes are important measures of the company's overall performance.

Orthofix believes that providing non-GAAP measures that exclude certain items provides investors with greater transparency to the information used by the Company’s senior management in its financial and operational decision-making. Management believes that providing this information enables investors to better understand the performance of the Company's ongoing operations and to understand the methodology used by management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates comparisons of Orthofix’s underlying operating performance with other companies in its industry that also supplement their GAAP results with non-GAAP financial measures.