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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 (NasdaqGS: TMCI) announced a public offering of 4,761,905 shares of its common stock at $21.00 per share, aiming to raise approximately $100 million in gross proceeds before commissions. The offering is set to close on February 10, 2023, pending customary conditions. All shares are offered by Treace with no involvement from selling stockholders. Additionally, underwriters have a 30-day option to purchase 714,285 additional shares. The funds will be utilized for general corporate purposes, including R&D and marketing. J.P. Morgan and Morgan Stanley are among the lead managers for the offering.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) has launched an underwritten public offering of $100 million in common stock, with an option for underwriters to purchase an additional $15 million. The funds raised will be allocated towards general corporate purposes, including research and development, sales and marketing, and capital expenditures. The offering, subject to market conditions, is backed by J.P. Morgan and Morgan Stanley as lead managers. Treace specializes in surgical treatments for bunions, with its patented Lapiplasty® 3D Bunion Correction™ procedure. The company aims to improve care standards for bunion surgery, addressing a significant patient population in the U.S.
Treace Medical Concepts (TMCI) announced preliminary unaudited results for Q4 and FY 2022, forecasting revenues between $49.1 million to $49.6 million for Q4 and $141.2 million to $141.7 million for the full year, marking a 50% growth year-over-year. This growth is attributed to strategic investments in direct sales and R&D. Treace is focused on advancing care standards for bunions and midfoot deformities through its Lapiplasty and Adductoplasty systems. The company plans to provide 2023 financial guidance in its upcoming earnings call.
PONTE VEDRA, Fla., Dec. 20, 2022 - Treace Medical Concepts, Inc. (NasdaqGS: TMCI) announces that CEO John T. Treace and CFO Mark L. Hair will present at the 41st Annual J.P. Morgan Healthcare Conference on January 11, 2023, at 10:30 a.m. ET. Treace, a leader in bunion treatment, aims to shift surgical practices with its patented Lapiplasty® 3D Bunion Correction™ Procedure, addressing the needs of the estimated 1.1 million surgical candidates annually in the U.S. A live webcast of the presentation will be available on the company’s investor relations website.
Treace Medical Concepts (TMCI) announced the grant of U.S. Patent Nos. 11,497,528 and 11,523,845 by the United States Patent and Trademark Office. These patents enhance the company's portfolio on bunion surgery techniques related to its Lapiplasty® 3D Bunion Correction™ system. With a total of 50 granted patents globally, including 40 in the US, Treace Medical continues to protect its innovations. CEO John T. Treace highlighted that these patents enable advancements in bunion patient care and support ongoing investments in innovative solutions.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) has received FDA 510(k) clearance for its SpeedPlate™ Rapid Compression Implant System, enabling its use in fracture fixation, osteotomy fixation, and joint arthrodesis of the foot and ankle. This innovative system, designed for rapid delivery of titanium compression implants, enhances the minimally invasive Micro-Lapiplasty® procedure. Anticipated limited release of SpeedPlate™ implants is set for the first half of 2023, with broader access planned for the second half. Treace aims to improve surgical outcomes for bunion patients.
Treace Medical Concepts (TMCI) reported third-quarter 2022 revenue of $33.1 million, marking a 53% increase year-over-year. The gross margin stood at 80.0%, with a gross profit of $26.4 million. Direct sales contributed 74% of total revenue, significantly up from 53% in Q3 2021. Despite this, the net loss increased to ($12.1 million), or ($0.22) per share, compared to ($6.4 million) a year earlier. Treace raised its 2022 revenue guidance to $135 million to $138 million, reflecting 43% to 46% growth over 2021.
PONTE VEDRA, Fla., Oct. 25, 2022 – Treace Medical Concepts, Inc. (TMCI), a leader in bunion surgical treatment, announced participation in two upcoming investor conferences. CEO John T. Treace and CFO Mark L. Hair will represent the company at the J.P. Morgan Equity Opportunities Forum on November 14, 2022, and at the Stifel 2022 Healthcare Conference on November 15, 2022. The latter will feature a fireside chat at 9:10 AM ET, accessible via the company’s investor relations website. Treace aims to revolutionize bunion surgery with its patented Lapiplasty® system, targeting 1.1 million surgical candidates in the U.S.
Treace Medical Concepts (NasdaqGS: TMCI) announced it will release its third quarter 2022 financial results on November 8, 2022, post-market. The company focuses on enhancing surgical treatments for bunions, affecting around 65 million Americans. They have developed the patented Lapiplasty® 3D Bunion Correction™ system and recently introduced the Adductoplasty™ Midfoot Correction System. A conference call will follow the earnings release at 4:30 PM ET, where management will discuss the results.
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