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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 (TMCI) announced the appointments of Lance E. Berry and Jane E. Kiernan to its board of directors, effective October 1, 2022. Their extensive experience in the medical device sector is expected to enhance Treace's board capabilities. Chairman James T. Treace highlighted that their expertise will support the company's strategies in tapping a $5 billion market opportunity. The Lapiplasty® system aims to improve surgical treatments for bunions, addressing a market of around 1.1 million annual surgical candidates in the U.S.
Treace Medical Concepts (TMCI) is showcasing innovative products at the 2022 AOFAS Annual Meeting in Quebec City, from September 14-17. Key highlights include the Lapiplasty® Micro-Incision™ System, which allows for smaller surgical incisions in bunion correction, and the SpeedPlate™ Rapid Compression Implants, a new fixation technology awaiting FDA review. Additionally, the company is featuring commercially available innovations like the Lapiplasty® S4A Anatomic Plating Kit and various tissue release instruments, emphasizing its commitment to advancing surgical care for bunion patients.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) announced the interim analysis from the ALIGN3D™ clinical study during the AOFAS Annual Meeting. The study evaluated 159 patients who underwent the Lapiplasty® Procedure, revealing key results: an early return to weightbearing at an average of 8.3 days, a low recurrence rate of 1.4%, and an 81% reduction in pain after 24 months. Significant improvements were noted in patient-reported outcomes, with an 82% increase in walking/standing and 84% in social interaction. The ALIGN3D™ study continues to demonstrate the effectiveness and reliability of the Lapiplasty® Procedure.
Treace Medical Concepts (TMCI) announced that CEO John T. Treace and CFO Mark L. Hair will participate in a fireside chat at the Morgan Stanley 20th Annual Global Healthcare Conference on September 13, 2022, at 8:35 am ET. This event will highlight the company’s advancements in the surgical treatment of hallux valgus (bunions) through its patented Lapiplasty® 3D Bunion Correction™ procedure. A live webcast will be available on the company’s investor relations website.
Treace Medical Concepts (TMCI) reported strong financial results for Q2 2022, achieving $30 million in revenue, a 45% increase year-over-year. The gross margin rose to 81.1%, up 20 basis points YoY. Direct sales accounted for 68% of total sales, driven by a unique bunion-focused salesforce. The company raised its full-year revenue guidance to $130-$134 million, representing growth of 38%-42% over 2021. Despite a net loss of ($17.2 million), TMCI maintains a strong cash position of $101.5 million, bolstered by a new $150 million loan arrangement.
Treace Medical Concepts (TMCI) has launched innovative surgical technologies aimed at improving the treatment of bunions. The new products include the Lapiplasty® 3-n-1™ Cut Guide, which reduces surgical time by 15%, and the S4A Anatomic Plating Kit, designed for better anatomical fit. Additionally, SpeedRelease™ and TriTome™ Release Instruments facilitate accurate tissue release during bunion surgery. CEO John T. Treace highlighted positive early feedback and plans for wider distribution to enhance surgical outcomes nationwide.
PONTE VEDRA, Fla., July 25, 2022 (GLOBE NEWSWIRE) -- Treace Medical Concepts (NasdaqGS: TMCI) has announced a Surgeon Advisor event at the Nasdaq MarketSite in New York City on September 20, 2022, at 9 AM ET. The event will feature presentations by leading surgeons on the Lapiplasty® and Adductoplasty™ procedures, alongside remarks from Treace's executive team. Live attendance requires prior registration by September 9, 2022, and a live webcast will be available on the company's investor relations website.
Treace aims to advance surgical management of bunion deformities affecting 65 million Americans.
Treace Medical Concepts, Inc. (NasdaqGS: TMCI) will release its Q2 2022 financial results on August 9, 2022, post-market close. A conference call will follow at 4:30 p.m. ET to discuss the results. Treace focuses on advanced surgical treatments for bunions, a condition affecting approximately 65 million Americans, with 1.1 million being surgical candidates annually. The company has developed the patented Lapiplasty® 3D Bunion Correction™ system and recently introduced the Adductoplasty™ Midfoot Correction System to further enhance treatment options.
Treace Medical Concepts reported Q1 2022 revenue of $29.0 million, a 55% increase from Q1 2021. Gross margin decreased to 81.0%, with net loss attributable to common stockholders at ($9.0) million, or ($0.16) per share. Operating expenses rose to $31.6 million, mainly due to increased sales and marketing investments. The company announced a new $150 million loan arrangement, bolstering financial stability. Full-year revenue guidance is now $128 million to $133 million, reflecting 36% to 41% growth.
Treace Medical Concepts, Inc. (TMCI) announced the publication of interim results from its ALIGN3D™ clinical study in the Journal of Foot & Ankle Surgery. The study, involving 173 patients, evaluated the effectiveness of the Lapiplasty® 3D Bunion Correction™ procedure. Key findings include:
- Average return to weight-bearing at 7.8 days post-surgery.
- 0.9% recurrence rate at 12 months.
- Significant improvements in patient-reported outcomes, with over 80% pain reduction at 24 months.
This peer-reviewed publication highlights Treace's innovative approach to bunion treatment and aims to establish the Lapiplasty® Procedure as the standard of care.
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