Treace Files Patent Infringement and Unfair Competition Suit to Protect Lapiplasty® Bunion Technology
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, Inc. (NASDAQ: TMCI) ha intentato una causa contro Stryker e la sua controllata Wright Medical Technology, Inc. (NYSE: SYK) per presunta violazione di brevetto e concorrenza sleale. Il caso, presentato presso il Tribunale Distrettuale degli Stati Uniti per il Distretto del New Jersey, sostiene la violazione di 9 brevetti relativi alle tecnologie di correzione dei bunions Lapiplasty® 3D di Treace.
Treace, pioniere nei sistemi di correzione 3D dei bunions, cerca un’ingiunzione e danni. Il CEO John T. Treace ha sottolineato il ruolo dell’azienda nella creazione di un nuovo segmento nel mercato statunitense dei bunions e il suo impegno a proteggere la proprietà intellettuale. Ha dichiarato che la causa ha l'obiettivo di scoraggiare i concorrenti dalla violazione dei brevetti di Treace e di rassicurare gli azionisti sulla dedizione dell'azienda all'innovazione.
Nonostante l'azione legale, Treace mantiene le sue previsioni finanziarie, aspettandosi un miglioramento del 50% nell'EBITDA rettificato del 2024 rispetto al 2023 e anticipando il pareggio dell'EBITDA rettificato nel 2025.
Treace Medical Concepts, Inc. (NASDAQ: TMCI) ha presentado una demanda contra Stryker y su subsidiaria Wright Medical Technology, Inc. (NYSE: SYK) por supuesta infracción de patentes y competencia desleal. La demanda, presentada ante el Tribunal de Distrito de EE. UU. para el Distrito de Nueva Jersey, alega la infracción de 9 patentes relacionadas con las tecnologías de corrección de juanetes Lapiplasty® 3D de Treace.
Treace, pionera en sistemas de corrección de juanetes en 3D, busca una medida cautelar y daños. El CEO John T. Treace enfatizó el papel de la compañía en la creación de un nuevo segmento en el mercado de juanetes de EE. UU. y su compromiso de proteger la propiedad intelectual. Declaró que la demanda tiene como objetivo disuadir a los competidores de infringir las patentes de Treace y tranquilizar a los accionistas sobre la dedicación de la empresa a la innovación.
A pesar de la acción legal, Treace mantiene su perspectiva financiera, esperando una mejora del 50% en el EBITDA ajustado de 2024 en comparación con 2023 y anticipando el punto de equilibrio del EBITDA ajustado en 2025.
Treace Medical Concepts, Inc. (NASDAQ: TMCI)는 Stryker와 그 자회사 Wright Medical Technology, Inc. (NYSE: SYK)를 대상으로 특허 침해 및 불공정 경쟁에 대한 소송을 제기했습니다. 이 소송은 뉴저지 지방법원에 제기되었으며, Treace의 Lapiplasty® 3D Bunion Correction® 기술과 관련된 9개의 특허 침해를 주장하고 있습니다.
3D 발가락 교정 시스템의 선구자인 Treace는 금지 명령과 손해 배상을 요청하고 있습니다. CEO인 John T. Treace는 미국 발가락 시장에서 새로운 시장 부문을 창출하는 회사의 역할과 지적 재산 보호에 대한 의지를 강조했습니다. 그는 이번 소송이 Treace의 특허를 침해하지 않도록 경쟁자들을 저지하고, 주주들에게 회사를 혁신에 헌신하고 있음을 알리기 위함이라고 밝혔습니다.
법적 조치에도 불구하고 Treace는 2024년 조정 EBITDA가 2023년 대비 50% 개선될 것으로 예상하며 2025년 조정 EBITDA의 손익 분기점을 예상하고 있습니다.
Treace Medical Concepts, Inc. (NASDAQ: TMCI) a déposé une plainte contre Stryker et sa filiale Wright Medical Technology, Inc. (NYSE: SYK) pour violation présumée de brevets et concurrence déloyale. La plainte, déposée devant le Tribunal de district des États-Unis pour le district du New Jersey, affirme que 9 brevets liés aux technologies de correction de bunion Lapiplasty® 3D de Treace ont été violés.
Treace, pionnier dans les systèmes de correction des bunions en 3D, recherche un recours judiciaire et des dommages-intérêts. Le CEO John T. Treace a souligné le rôle de l'entreprise dans la création d'un nouveau segment sur le marché américain des bunions et son engagement à protéger la propriété intellectuelle. Il a déclaré que le but de la plainte est de dissuader les concurrents de violer les brevets de Treace et de rassurer les actionnaires sur l'engagement de l'entreprise envers l'innovation.
Malgré l'action en justice, Treace maintient ses prévisions financières et s'attend à une amélioration de 50 % de l'EBITDA ajusté en 2024 par rapport à 2023 et prévoit d'atteindre l'équilibre de l'EBITDA ajusté en 2025.
Treace Medical Concepts, Inc. (NASDAQ: TMCI) hat eine Klage gegen Stryker und deren Tochtergesellschaft Wright Medical Technology, Inc. (NYSE: SYK) wegen angeblicher Patentverletzung und unlauterem Wettbewerb eingereicht. Die Klage, die beim US-Bezirksgericht für den Distrikt New Jersey eingereicht wurde, behauptet, dass 9 Patente im Zusammenhang mit Treaces Lapiplasty® 3D Bunion Correction® Technologien verletzt wurden.
Treace, Pionier im Bereich der 3D-Bunionkorrektursysteme, strebt einstweilige Verfügungen und Schadenersatz an. CEO John T. Treace betonte die Rolle des Unternehmens bei der Schaffung eines neuen Segments im US-Markt für Hallux valgus und das Engagement für den Schutz des geistigen Eigentums. Er erklärte, dass die Klage darauf abzielt, Wettbewerber davon abzuhalten, Treaces Patente zu verletzen, und die Aktionäre über das Engagement des Unternehmens für Innovation zu beruhigen.
Trotz der juristischen Schritte bleibt Treace optimistisch in seiner finanziellen Prognose und erwartet eine 50%ige Verbesserung des bereinigten EBITDA im Jahr 2024 im Vergleich zu 2023 sowie einen ausgeglichenen bereinigten EBITDA im Jahr 2025.
- Treace is taking legal action to protect its intellectual property, potentially safeguarding its market position
- The company expects a 50% improvement in 2024 Adjusted EBITDA compared to 2023
- Treace anticipates reaching Adjusted EBITDA breakeven in 2025
- Treace's Lapiplasty® technology has been used in over 100,000 surgical procedures
- Legal proceedings against a major competitor (Stryker) could be costly and time-consuming
- The lawsuit suggests potential market share threats from competitors
Insights
The lawsuit filed by Treace Medical Concepts against Stryker is a significant development in the medical technology sector, particularly for bunion correction technologies. This legal action alleges infringement of 9 patents related to Treace's Lapiplasty® 3D Bunion Correction® technologies, as well as unfair competition.
Key points to consider:
- The suit seeks both injunctive relief and damages, which could have substantial financial implications for both companies.
- Treace's claim of creating "an entirely new segment of the US bunion market" suggests they view this as a critical market position to defend.
- The allegation of unfair competition, in addition to patent infringement, broadens the scope of the lawsuit and potential consequences.
- This legal action may deter other potential competitors from entering this market segment, potentially strengthening Treace's market position.
For investors, this lawsuit represents both a risk and an opportunity. A favorable outcome could secure Treace's market position and potentially lead to additional revenue through damages or licensing agreements. However, prolonged litigation could be costly and divert resources from R&D and market expansion efforts.
While the lawsuit is significant, it's important to focus on the financial implications mentioned in the article. Treace's CEO provided forward-looking statements regarding the company's financial performance:
- Expectation of
50% improvement in 2024 Adjusted EBITDA compared to full-year 2023 - Projection to reach Adjusted EBITDA breakeven in 2025
These projections suggest management's confidence in the company's financial trajectory, despite the ongoing legal challenges. The anticipated EBITDA improvement indicates potential for stronger operational efficiency and revenue growth.
However, investors should consider:
- Legal costs associated with the lawsuit could impact short-term profitability
- The outcome of the lawsuit could affect future market share and revenue streams
- The company's ability to continue innovating while engaged in litigation
With a market cap of
PONTE VEDRA, Fla., Oct. 14, 2024 (GLOBE NEWSWIRE) -- Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of bunions and related midfoot deformities through its flagship Lapiplasty® and Adductoplasty® Procedures, today announced that it filed a lawsuit against Stryker Corporation and its subsidiary Wright Medical Technology, Inc. (collectively, “Stryker”) (NYSE: SYK), alleging infringement of 9 patents related to Treace’s innovative Lapiplasty® 3D Bunion Correction® technologies and unfair competition. The suit was filed in the United States District Court for the District of New Jersey, and seeks injunctive relief and damages.
“Treace Medical was the first company to develop, patent, and introduce an instrumented 3D bunion correction system, which created an entirely new segment of the US bunion market and successfully built its market presence from zero to becoming a standard of care in bunion surgery over the past ten years,” said John T. Treace, CEO and Founder of Treace. “Our patented technologies have revolutionized the field of hallux valgus treatment, delivering a new paradigm of treatment in over 100,000 surgical procedures to date. Companies such as Stryker, unfortunately, have rushed to capitalize on Treace’s pioneering research and development by launching products that, as detailed in our Complaint, infringe on Treace’s intellectual property. Moreover, we believe Stryker has also commercialized those infringing products in ways that violate competition laws.”
Mr. Treace continued, “This suit not only sends a message to competitors in the marketplace, particularly those that infringe on our intellectual property, but also reassures our shareholders that we are committed to protecting our investments in our pioneering research and technology, which drives our ability to continue to innovate solutions that benefit patients.”
“Today’s action is consistent with what we stated publicly earlier this year, namely that our strategy all along has been to assert and enforce our IP rights,” Mr. Treace said. “We also continue to expect 2024 Adjusted EBITDA to improve approximately
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, the Company’s expected rate of Adjusted EBITDA improvement in 2024 and its expectation of breakeven Adjusted EBITDA in 2025. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results or other events to differ materially from those contemplated in this press release can be found in the Risk Factors section of Treace’s public filings with the Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2023, which was filed with the SEC on February 27, 2024, and its subsequent SEC filings. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of their date and, except to the extent required by law, the Company undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise.
About Treace Medical Concepts
Treace Medical Concepts, Inc. is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 67 million Americans, of which Treace estimates 1.1 million are annual surgical candidates. Treace has pioneered and patented the Lapiplasty® 3D Bunion Correction® System – a combination of instruments, implants, and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion and helping patients get back to their active lifestyles. To further support the needs of bunion patients, Treace has introduced its Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of the midfoot as well as its Hammertoe PEEK Fixation System designed to address hammertoe, claw toe and mallet toe deformities. The Company continues to expand its footprint in the foot and ankle market with the introduction of its SpeedPlate™ Rapid Compression Implants, an innovative fixation platform with broad versatility across Lapiplasty® and Adductoplasty® procedures, as well as other common bone fusion procedures of the foot. For more information, please visit www.treace.com.
To learn more about Treace, connect with us on LinkedIn, X, Facebook and Instagram.
Contacts:
Treace Medical Concepts
Mark L. Hair
Chief Financial Officer
mhair@treace.net
(904) 373-5940
Investors:
Gilmartin Group
Vivian Cervantes
IR@treace.net
FAQ
What is the reason for Treace Medical Concepts (TMCI) filing a lawsuit against Stryker?
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