Treace Medical Concepts, Inc. Company profile
About Treace Medical Concepts Inc
Treace Medical Concepts, Inc. is a commercial-stage orthopaedic medical device company. The Company is focused on strategic product development activities that improve surgical efficiencies and patient outcomes. The Company's proprietary Lapiplasty 3-dimensional (3D) Bunion Correction System, which is a combination of instruments, implants and surgical methods designed to correct all three dimensions of the bunion deformity, address the root cause of the bunion deformity. The Lapiplasty System combines novel surgical approach, the Lapiplasty Procedure, with its procedural instrumentation and single-use implant kits. The Lapiplasty Procedure is designed to rotate the entire metatarsal bone into normal anatomical position in all three dimensions, eliminating the bump and restoring normal anatomy. The Lapiplasty Procedure can be performed in either hospital outpatient or ambulatory surgery center settings. The Company's brands include Lapiplasty, Fast Grafter and Plantar Python.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Treace Medical Concepts Inc revenues increased 65% to $94.4M. Net loss applicable to common stockholders increased from $4.3M to $20.7M. Revenues reflect an increase in demand for the Company's products and services due to favorable market conditions. Higher net loss reflects Sales and marketing - Balancing value increase of 79% to $50.2M (expense).
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