Welcome to our dedicated page for Treace Medical Concepts news (Ticker: TMCI), a resource for investors and traders seeking the latest updates and insights on Treace Medical Concepts stock.
Treace Medical Concepts, Inc. is a leading orthopaedic medical device company specializing in innovative solutions for the surgical management of bunion deformities. With a commitment to excellence, the company brings breakthrough technologies to the high-growth $1.1 billion US market for foot and ankle surgical products.
Treace's flagship product, the Lapiplasty® 3D Bunion Correction™ procedure, addresses the root cause of bunions by correcting all planes of the deformity. This patented procedure not only improves patient outcomes but also allows for a quicker return to an active lifestyle.
The company operates as a single segment, focusing on the design, manufacturing, and marketing of medical devices for physicians, surgeons, ambulatory surgery centers, and hospitals. Their mission is to assist foot and ankle physicians in enhancing patient outcomes and reducing healthcare costs, while also providing a rewarding experience for their employees and exceptional returns for shareholders.
In recent news, Treace Medical Concepts announced their participation in the upcoming J.P. Morgan Healthcare Conference, showcasing new SpeedPlate™ configurations, and the full commercial release of the Micro-Lapiplasty™ System. Additionally, they have initiated a limited clinical release of the Mini-Adductoplasty™ System and RedPoint™ Patient-Specific Instrumentation. The company also focuses on educational outreach to build awareness and reduce stigma around bunion deformities.
Treace Medical Concepts has also partnered to support pickleball players with bunions and related midfoot deformities, helping them to 'get back on their feet' and onto the court. Such initiatives highlight Treace's dedication to improving the lives of individuals affected by foot health issues.
Treace Medical Concepts (NASDAQ: TMCI) has announced the successful completion of first surgical cases using their new SpeedPlate™ MicroQuad™ implants. This innovation expands their SpeedPlate™ platform, designed for fast titanium compression fixation in bunion and midfoot deformity treatments.
The MicroQuad™ implant features an anatomic design with multiple fixation points on each joint side, delivering dynamic compression with rotational stability through a one-inch incision. The company plans a full market release in the first half of 2025. Initial surgical cases were performed by Dr. William T. DeCarbo, who praised the implant's anatomic contour and rotational stability through minimal incision.
Treace Medical Concepts (NASDAQ: TMCI) announced the successful implementation of IntelliGuide™ PSI technology with the Adductoplasty® System, marking a significant advancement in midfoot deformity correction. This system is the first patient-specific cut guide system available in the U.S. for bunion and midfoot deformity correction.
The technology uses AI-enabled software to convert patient CT-scans into pre-operative surgical plans and creates 3D-printed cut guides customized to each patient's deformity. The company has initiated a market release of IntelliGuide™ PSI for the Adductoplasty® Procedure, with full market release expected in the first half of 2025. Notably, midfoot deformities may affect up to 30% of bunion patients.
Treace Medical Concepts (NasdaqGS: TMCI), a medical technology company specializing in surgical treatments for bunions and midfoot deformities through its Lapiplasty® and Adductoplasty® Procedures, has appointed Guy Guglielmino as Chief Commercial Officer. In this new role, Guglielmino will lead the company's commercial efforts and drive innovation, product commercialization, and growth. He joins Treace with extensive medical technology industry experience, most recently serving as President, Recovery Sciences at Enovis, with previous senior Marketing roles at Wright Medical and Bausch + Lomb.
Treace Medical Concepts (NasdaqGS: TMCI), a medical technology company focused on surgical treatment of bunions and midfoot deformities through its Lapiplasty® and Adductoplasty® Procedures, announced its participation in the Stifel 2024 Healthcare Conference. The company's CEO John T. Treace and CFO Mark L. Hair will participate in a fireside chat on November 19, 2024, at 8:00 am ET. A live webcast and replay will be available on the company's investor relations website.
Treace Medical Concepts (TMCI) reported Q3 2024 financial results with revenue of $45.1 million, up 11% year-over-year. The company posted a net loss of ($15.4) million, improving from ($17.5) million in Q3 2023. Adjusted EBITDA loss improved 45% to ($5.1) million from ($9.2) million year-over-year. The company announced entry into the high-volume osteotomy market with Nanoplasty™ 3D Minimally Invasive Bunion Correction™ Procedure. Gross margin was 80.1%. Cash position stood at $82.8 million as of September 30, 2024. The company revised its full-year 2024 revenue guidance to $204-211 million, representing 9-13% growth.
Treace Medical Concepts (NasdaqGS: TMCI), a medical technology company specializing in surgical treatments for bunions and midfoot deformities through its Lapiplasty® and Adductoplasty® Procedures, announced its participation in the upcoming UBS Global Healthcare Conference. CEO John T. Treace and CFO Mark L. Hair will engage in a fireside chat on November 12, 2024, at 11:45 am ET. The event will be accessible via live webcast and replay on the company's investor relations website.
Treace Medical Concepts has announced significant reimbursement rate increases for its Lapiplasty® procedure following CMS' 2025 Final Rule. The CPT code 28297, used for Lapidus fusion and Lapiplasty® procedures, will be reassigned to APC code 5115, resulting in an 89% increase in hospital outpatient payment rates to $12,867 (up $6,050 from 2024). In the ASC setting, the payment will increase by 100% to $9,820, compared to $4,900 in 2024. These changes will take effect January 1, 2025.
Treace Medical Concepts (TMCI) has announced the market release of the Nanoplasty™ 3D Minimally Invasive Bunion Correction™ System, marking its entry into the metatarsal osteotomy segment. This segment represents approximately 70% of the 450,000 annual bunion surgeries in the U.S. The new system performs bunion correction through a 1.5-centimeter hidden incision on the foot's side. Full commercialization is expected in the first half of 2025. This launch expands Treace's presence in the $5B+ US bunion market, complementing their existing Lapiplasty® and Adductoplasty® procedures.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI), a medical technology company specializing in surgical treatments for bunions and midfoot deformities, has announced it will release its third quarter 2024 financial results after market close on Tuesday, November 5, 2024. The company will host a conference call at 4:30 pm ET to discuss the results.
Investors can participate in the call by registering to receive dial-in numbers and a unique pin. Additionally, a live and archived webcast of the event will be available on the company's investor relations website at https://investors.treace.com/.
Treace Medical Concepts, Inc. (NASDAQ: TMCI) has filed a lawsuit against Stryker and its subsidiary Wright Medical Technology, Inc. (NYSE: SYK) for alleged patent infringement and unfair competition. The suit, filed in the U.S. District Court for the District of New Jersey, claims infringement of 9 patents related to Treace's Lapiplasty® 3D Bunion Correction® technologies.
Treace, a pioneer in 3D bunion correction systems, seeks injunctive relief and damages. CEO John T. Treace emphasized the company's role in creating a new segment in the US bunion market and its commitment to protecting intellectual property. He stated that the lawsuit aims to deter competitors from infringing on Treace's patents and reassure shareholders of the company's dedication to innovation.
Despite the legal action, Treace maintains its financial outlook, expecting a 50% improvement in 2024 Adjusted EBITDA compared to 2023 and anticipating Adjusted EBITDA breakeven in 2025.
FAQ
What is the current stock price of Treace Medical Concepts (TMCI)?
What is the market cap of Treace Medical Concepts (TMCI)?
What does Treace Medical Concepts, Inc. specialize in?
What is the Lapiplasty® 3D Bunion Correction™ procedure?
What recent products has Treace Medical Concepts released?
How does Treace Medical Concepts support the foot and ankle surgical market?
When is Treace Medical Concepts presenting at the J.P. Morgan Healthcare Conference?
What is Treace's focus regarding patient outcomes?
Who are the primary customers of Treace Medical Concepts?
What ethical standards does Treace Medical Concepts adhere to?
What is the company’s mission?
How is Treace Medical Concepts involved in community outreach?
