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Overview of Treace Medical Concepts, Inc.
Treace Medical Concepts, Inc. is a commercial-stage medical device company specializing in advanced foot and ankle surgical solutions. With a primary focus on 3D bunion correction and the treatment of complex midfoot deformities, the company harnesses breakthrough technologies to improve surgical practices and patient outcomes. Its innovative Lapiplasty 3D Bunion Correction procedure is designed to address the root cause of bunion deformities by correcting misalignments in all three planes, setting a new benchmark in surgical care for bunion patients.
Core Business and Technological Innovation
At its core, Treace Medical Concepts operates within the high-growth niche of orthopaedic medical devices. The company designs, manufactures, and markets a range of products that include sophisticated instruments, implants, and surgical techniques aimed at reproducibly correcting bunion and midfoot deformities. Its patented procedures signify a significant evolution in musculoskeletal correction by incorporating 3D surgical methodologies. This approach not only accentuates precision and reproducibility but also facilitates faster patient recovery and reduced post-operative complications.
Market Position and Value Proposition
Treace is strategically positioned within a market valued in the billion-dollar range, where the demand for improved surgical interventions is constant. The company extracts value from its innovative product portfolio by providing surgeons with instrumented systems that enhance the standard of care in bunion and midfoot correction. This is achieved through an innovation-driven, high-velocity approach that upholds ethical and high-quality standards—a commitment that resonates well with the company’s core mission of enhancing patient care while managing healthcare costs effectively.
Operational Excellence and Industry Impact
Operating as a single business segment, Treace Medical Concepts integrates research, design, manufacturing, and marketing under a unified strategy. Its operations are geared towards ensuring that each device and technique offers reproducible, high-quality outcomes. The company’s diverse product suite, which includes not only the flagship Lapiplasty system but also complementary systems such as the Adductoplasty Midfoot Correction and SpeedPlate Rapid Compression Implants, exemplifies its comprehensive approach. These innovations empower foot and ankle surgeons to achieve consistent surgical outcomes, making the company a pivotal entity in the transformation of orthopaedic surgery.
Commitment to Quality and Ethical Standards
Embedded in the company’s operational ethos is a commitment to the highest standards of ethical conduct and clinical excellence. Treace Medical Concepts is dedicated not only to advancing surgical technology but also to ensuring that every procedural improvement translates into better patient experiences and reduced long-term healthcare costs. Its robust portfolio of clinical studies and ongoing research efforts provide a critical evidence base that reinforces the efficacy and safety of its procedural innovations.
Understanding the Product Suite
The Lapiplasty 3D Bunion Correction System represents a quantum leap in bunion surgery by systematically addressing the true underlying anatomical misalignments. This system is complemented by other instrumented solutions designed for minimally invasive correction, broadening the spectrum of surgical options available to practitioners. These products underscore the company’s philosophy of integrating advanced technology with rigorous clinical validation to transform the standard of care in orthopaedic procedures.
Competitive Landscape and Surgical Community Engagement
Within a competitive market landscape, Treace distinguishes itself through its sole focus on surgical correction of bunion and related midfoot deformities. Unlike competitors that rely on conventional methods, Treace’s emphasis on complete 3D correction offers a reproducible and scalable solution. The company actively engages with the surgical community through conferences, clinical presentations, and training events, thereby reinforcing its technical authority and contributing to knowledge sharing in the field.
Concluding Insights
Treace Medical Concepts, Inc. embodies the intersection of clinical innovation and operational excellence, contributing substantively to the evolution of foot and ankle surgical practices. Its methodical approach to product development and ethical operational standards makes it a reliable source of transformative surgical technology. For professionals seeking detailed insights into advanced orthopaedic solutions, the company’s offerings provide a comprehensive overview of modern procedural innovations grounded in proven clinical methodologies.
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.
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.
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