A nail is inserted into the medullary canal of a fractured bone to fixate the bone segments in order to promote healing. The nail provides compressive force to close the fracture and further promote healing. The nail has an outer member and an inner member that is slidable within the outer member. The inner member has at one end arms for engaging the interior of the bone cortex in the distal bone segment and at the other end a holding member for engaging the cortex in the proximal bone segment. The arms are movable between stowed positions, for allowing the insertion of the nail into the bone, and deployed positions, for engaging the bone cortex. The force exerted by the arms and the holding member on the bone is adjustable.