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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 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.
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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