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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) will showcase new product innovations and present updated clinical data at the American Orthopaedic Foot & Ankle Society Annual Meeting 2024. The company will highlight:
- Nanoplasty™ MIS 3D Osteotomy System for minimally invasive bunion correction
- IntelliGuide™ PSI Cut Guides for personalized surgical planning
- Mini-Adductoplasty™ Guides for less-invasive midfoot correction
- New SpeedPlate™ innovations for midfoot and rearfoot fusion
- Micro-Lapiplasty™ Minimally Invasive System for small incision procedures
The company will also present interim data from the ALIGN3D™ and Mini3D™ Lapiplasty® clinical studies, demonstrating sustained positive outcomes at 3-4 years and 1-2 years post-procedure, respectively.
Treace Medical Concepts, Inc. (TMCI), a medical technology company specializing in bunion and midfoot deformity treatments, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The company's CEO, John T. Treace, and CFO, Mark L. Hair, will engage in a fireside chat on September 5, 2024, at 10:00 am ET.
Investors can access a live webcast and replay of the event through Treace's investor relations website. The company encourages stakeholders to regularly check their website for important updates and information.
Treace Medical Concepts (NASDAQ: TMCI) reported its Q2 2024 financial results, showing revenue growth of 6% to $44.5 million compared to Q2 2023. The company's gross margin was 80.2%, slightly down from 81.7% in the previous year. Despite revenue growth, Treace faced a net loss of $21.2 million, or ($0.34) per share, wider than the $12.3 million loss in Q2 2023. The increased loss was attributed to higher operating expenses, which rose to $57.1 million from $47.3 million year-over-year. Treace maintains a strong cash position of $97.0 million and reaffirmed its full-year 2024 revenue guidance of $201-$211 million, representing 7-13% growth. The company expects Adjusted EBITDA to improve by approximately 50% compared to 2023.
Treace Medical Concepts, Inc. (NASDAQ: TMCI), a medical technology company specializing in bunion and midfoot deformity treatments, has announced its plans to release second quarter 2024 financial results on August 6, 2024, after market close. The company will host a conference call at 4:30 pm ET to discuss the results. Investors can register to participate in the call and receive dial-in information. A live and archived webcast will be available on the company's investor relations website.
Treace Medical Concepts announced its participation in the Truist Securities MedTech Conference on June 18, 2024, at 8:00 am Eastern Time. CEO John T. Treace and CFO Mark L. Hair will join a fireside chat during the event. The discussion will be webcasted live and available for replay on Treace's investor relations website. Treace, known for its Lapiplasty® and Adductoplasty® Procedures, spearheads advancements in the surgical treatment of bunions and midfoot deformities.
Treace Medical Concepts, Inc. reported $51.1 million in revenue for Q1 2024, a 21% increase from the same period in 2023. Despite a net loss and revised guidance for 2024, the company achieved milestones, expanded its patent portfolio, and introduced new technologies. The CEO remains optimistic about navigating competitive challenges and delivering shareholder value.
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