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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.
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.
Treace Medical Concepts, Inc. (Nasdaq: TMCI) announced a new five-year $150 million loan arrangement with MidCap Financial. This includes up to $120 million in term loans and a $30 million revolving credit facility. The term loan refinances their existing $30 million debt. CEO John T. Treace emphasized that this non-dilutive financing strengthens the company's balance sheet, providing financial flexibility for growth in the bunion surgery market. The company reported cash and liquidity access of approximately $220 million post-refinancing.
Treace Medical Concepts (NasdaqGS: TMCI) announced it will release its financial results for the first quarter of 2022 on May 5, 2022, after market close. A conference call will be held at 4:30 p.m. ET to discuss these results. The company specializes in innovative surgical solutions for bunion deformities, notably the patented Lapiplasty® 3D Bunion Correction™ system. This system aims to address the root causes of bunions and facilitate recovery. The event will be accessible via a conference call and webcast on Treace's investor relations website.
Treace Medical Concepts (TMCI) has filed a lawsuit against Fusion Orthopedics in the U.S. District Court for Arizona, claiming infringement on several patents related to its Lapiplasty® 3D Bunion Correction™ system. The lawsuit includes allegations of copyright infringement, trademark rights violation, and unfair competition, seeking both injunctive relief and damages. CEO John T. Treace emphasized the importance of their intellectual property, which supports continued innovation in bunion treatment, benefiting thousands of patients.
Treace Medical Concepts (TMCI) reported strong financial results for Q4 and full year 2021. Q4 revenue hit $33.4 million, a 39% year-over-year increase, with full year revenue reaching $94.4 million, up 65%. Gross margins improved to 81.1% in Q4, reflecting higher sales volume and pricing. The company made strategic investments in sales and marketing, contributing to a 58% direct sales channel revenue in Q4. Despite these gains, TMCI reported a net loss of ($6.6) million for Q4 and ($20.7) million for 2021. The outlook for 2022 anticipates revenue of $125 million to $130 million.
Treace Medical Concepts (TMCI) has presented the latest interim analysis from the ALIGN3D clinical study at the 2022 ACFAS Annual Scientific Conference. The analysis included data from 160 participants, demonstrating a return to weight-bearing in 8.5 days and significant improvements in pain reduction and quality of life after 12 and 24 months following the Lapiplasty procedure. Notably, the recurrence rates were low at 0.9% and 0.0% at 12 and 24 months, respectively. CEO John T. Treace expressed commitment to advancing clinical evidence supporting their solutions for bunion patients.
Treace Medical Concepts (TMCI) announces new product innovations at the 2022 ACFAS Annual Scientific Conference in Austin, Texas, from February 24-27. Key highlights include:
- Lapiplasty® 3-n-1™ Guide: A precision instrument designed to enhance the efficiency of the bunion correction procedure.
- Adductoplasty™ Midfoot Correction System: Expansion of the system to improve efficiency and treat various midfoot conditions.
- Lapiplasty® S4A Anatomic Plating System: Next-generation titanium plates for improved surgical outcomes.
- SpeedRelease™ and TriTome™ Instruments: New cutting tools for enhanced surgical release.
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