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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, Inc. (TMCI), a medical technology firm specializing in bunion treatment, announced that CEO John T. Treace and CFO Mark L. Hair will participate in a fireside chat at the Bank of America 2023 Healthcare Conference on May 10, 2023, at 11:40 AM ET. The event will focus on Treace's innovative Lapiplasty® 3D Bunion Correction™ Procedure, aimed at improving surgical outcomes for bunion patients. The company estimates around 1.1 million Americans are annual surgical candidates for bunion correction. A live webcast of the session will be available on Treace's investor relations website.
Treace Medical Concepts (TMCI) announced it will release Q1 2023 financial results on May 8, 2023, after trading ends. The company, which focuses on surgical treatments for bunions through its patented Lapiplasty® 3D Bunion Correction™ Procedure, aims to advance standards of care for bunion treatment. Treace estimates around 1.1 million Americans are annual surgical candidates for bunions, affecting approximately 65 million people nationwide. Following the financial results announcement, a conference call will be held at 4:30 PM ET, allowing investors to engage with management. Live and archived webcasts will be accessible through the company’s investor relations website.
Treace Medical Concepts, Inc. (TMCI) has announced significant progress in its intellectual property portfolio, with 15 new patent applications filed and 7 utility patents granted in 2023. The granted patents cover innovative systems and methods for treating bunions, enhancing TMCI's position in the medical technology field. The company's total includes 58 granted patents globally and 84 pending applications, reflecting a commitment to advancing surgical management for bunions. CEO John T. Treace emphasized the importance of these innovations in improving patient care and the protection of proprietary technology.
Treace Medical Concepts (TMCI) announced its fourth quarter and full year 2022 financial results, reporting a 49% increase in revenue for Q4 at $49.8 million, and a 50% increase for 2022 totaling $141.8 million. The gross margin stood at 80.4% for Q4 and 80.6% for the full year. The company also highlighted a strong adoption of the Lapiplasty® procedure, with nearly 1-in-4 U.S. bunion surgeons using it in 2022. Treace granted two new U.S. patents, expanding its portfolio to 40. A follow-on stock offering raised $107.5 million to support growth. The company expects 2023 revenue growth of 32% to 36% year-over-year.
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