Welcome to our dedicated page for OrthoPediatrics news (Ticker: KIDS), a resource for investors and traders seeking the latest updates and insights on OrthoPediatrics stock.
OrthoPediatrics Corp. (symbol: KIDS) is a global leader in pediatric orthopedics, exclusively focusing on providing innovative solutions for children with orthopedic conditions and injuries. The company is dedicated to advancing pediatric orthopedics by developing state-of-the-art technologies, ensuring high-quality products, and offering unparalleled support and clinical education through its team of experts.
OrthoPediatrics offers a wide range of anatomically appropriate implants and instruments designed to meet the unique needs of pediatric orthopedic surgeons. Their product portfolio includes solutions for long bone deformity correction and trauma, spine, and sports medicine. Among their flagship products are PediLoc, PediPlates, Cannulated Screws, PediFlexTM nail, PediNailTM, PediLoc Tibia, and the ACL Reconstruction System.
Recent achievements of OrthoPediatrics include issuing the 2024 financial guidance and recording a full-year revenue of $148.7 million in 2023, marking a 22% increase compared to the previous year. As of December 31, 2023, the company had cash and cash equivalents, short-term investments, and restricted cash totaling $82.3 million. The recent acquisition of Boston Orthotics & Prosthetics was a significant milestone, further reinforcing their market position.
In the first quarter of 2024, OrthoPediatrics reported a 41% increase in revenue year-over-year. The company's total other expense was $0.6 million for the quarter, primarily due to a favorable fair value adjustment in the previous year that did not recur in 2024, as well as additional interest expenses related to a new term loan with MidCap. As of March 31, 2024, the company's cash, cash equivalents, short-term investments, and restricted cash were $49.7 million.
OrthoPediatrics continues to seek talented professionals to join their mission. Interested candidates can visit their website to learn about current openings or submit their resumes to careers@orthopediatrics.com. For the latest updates, news, and developments, shareholders and potential investors can find the most recent information on OrthoPediatrics Corp. through this page.
OrthoPediatrics Corp. (NASDAQ: KIDS) is set to release its second quarter 2022 financial results on August 3, 2022, post-market. A conference call will follow on August 4, 2022, at 8:00 a.m. ET, to discuss these results. OrthoPediatrics specializes in pediatric orthopedics, offering 39 surgical systems across trauma, scoliosis, and sports medicine categories. The company's products are marketed in the U.S. and 70 additional countries, reflecting its extensive global reach.
OrthoPediatrics Corp. (Nasdaq: KIDS) has entered into an exclusive distribution agreement with 3D-Side S.A. to distribute the 3D-CUT-OSTEO osteotomy guide in leading pediatric hospitals in the U.S. and select international markets. This innovative technology utilizes patient-specific 3D printed cutting guides, enhancing surgical precision for corrective procedures and tumor resections. OrthoPediatrics aims to complement its offerings in pediatric orthopedics by increasing its presence in the pediatric oncology market, addressing complex treatment needs.
OrthoPediatrics Corp. (KIDS) announced its acquisition of Pega Medical for $33 million, consisting of $31 million cash and $2 million in stock with restrictions. This acquisition enhances OrthoPediatrics' product offerings aimed at addressing pediatric musculoskeletal disorders. Pega's innovations, such as the Fassier-Duval Telescopic Intramedullary System™, are designed for treating conditions like Osteogenesis Imperfecta. Additionally, OrthoPediatrics raised its 2022 revenue guidance to $125-$128 million, reflecting a growth of 27%-31%.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced an agreement to acquire Pega Medical for up to $33 million, enhancing its pediatric orthopedic portfolio. The deal includes a $31 million cash payment and $2 million in stock. OrthoPediatrics plans to finance the acquisition using an expanded credit facility of $50 million. The company also raised its full-year 2022 revenue guidance to a range of $125 million to $128 million, reflecting a 27% to 31% growth. This acquisition aims to better address needs in treating children with conditions like osteogenesis imperfecta.
OrthoPediatrics Corp (Nasdaq: KIDS) will participate in a fireside chat at the JMP Securities Life Sciences Conference on June 15, 2022, at 1:00 pm ET. The chat will feature CEO Dave Bailey and COO/CFO Fred Hite discussing advancements in pediatric orthopedics. An audio webcast will be accessible on their investor relations website, with a replay available for 90 days post-event. Founded in 2006, OrthoPediatrics focuses on pediatric orthopedic solutions, offering 37 surgical systems that cater to trauma, scoliosis, and sports medicine.
OrthoPediatrics Corp. (NASDAQ: KIDS) continues its support for the 2022 Pediatric Orthopaedic Society of North America (POSNA) annual meeting from May 11-14 in Vancouver, Canada, as a Double Diamond Sponsor. The company showcases its expanding product portfolio, including ApiFix and 7D Flash Navigation Technology through a partnership with SeaSpine. Following the acquisition of MD Orthopaedics, OrthoPediatrics aims to enhance its non-surgical offerings, particularly Ankle/Foot Orthosis (AFOs) for treating Club Foot. The event marks a return to live meetings, emphasizing OrthoPediatrics' commitment to pediatric orthopedics.
OrthoPediatrics Corp. (KIDS) reported a 9% year-over-year revenue increase for Q1 2022, generating $23.4 million compared to $21.5 million in Q1 2021. Domestic revenue grew by 8%, while international revenue rose by 13%. The company helped over 9,300 children during the quarter, reaching a total of more than 243,000 since inception. Gross profit improved by 14% to $18.6 million with a gross margin of 79.3%. Following the acquisition of MD Orthopaedics, full-year revenue guidance was raised to $122 million to $125 million.
OrthoPediatrics Corp. (NASDAQ: KIDS) plans to release its first quarter 2022 financial results on May 4, 2022, after market close. A conference call to discuss these results will be held on May 5, 2022, at 8:00 a.m. ET, with dial-in numbers provided for domestic and international callers. The call will also be available via a live webcast on the company's investor relations page. Founded in 2006, OrthoPediatrics specializes in pediatric orthopedics, offering 37 surgical systems across trauma, scoliosis, and sports medicine sectors.
OrthoPediatrics (Nasdaq: KIDS) has been recognized with the Gold Award at the 2022 Medical Design Excellence Awards for its innovative ApiFix® System, which provides a less invasive surgical option for adolescent idiopathic scoliosis. The award highlights the system's patient benefits and market differentiation, assessed on design, healthcare benefits, and innovation. The ApiFix System was showcased at the 2022 International Meeting on Advanced Spine Techniques (IMAST) in Miami, reinforcing OrthoPediatrics’ commitment to pediatric orthopedic advancements.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced that its ApiFix® System has been selected as a finalist for the 2022 Medical Design Excellence Awards (MDEA). This recognition highlights the product's innovative approach to treating adolescent idiopathic scoliosis (AIS) without fusion. The MDEA evaluates entries based on design, function, benefits to healthcare, and market differentiation. The winners will be announced during MD&M West in Anaheim, CA, on April 12-14. OrthoPediatrics aims to enhance treatment options for pediatric patients with scoliosis.
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