Treace Medical Concepts Announces Limited Market Release of New Complementary Technologies for Treating Bunions and Related Procedures
September 11 2023 - 4:05PM
Treace Medical Concepts, Inc. (“Treace” or the “Company”)
(NasdaqGS: TMCI), a medical technology company driving a
fundamental shift in the surgical treatment of hallux valgus
(commonly known as bunions) through its Lapiplasty® 3D Bunion
Correction™ Procedure, is pleased to announce the recent limited
market release of several new complementary technologies for
treating bunions and bunion-related procedures. These products will
be available in limited market release in the U.S. through Treace’s
bunion-focused sales team with a full market release expected in
the fourth quarter of 2023.
The Company’s new Hammertoe PEEK
Fixation System is designed to address hammertoe, claw toe
and mallet toe deformities. Comprised of a convenient
sterile-packed implant and instrument kit, the PEEK implant offers
radiolucency and mechanical properties comparable to bone1,2, as
well as a cannulated system to facilitate streamlined insertion and
allow for accurate implant placement. Hammertoes often
present concomitantly with bunions and are one of the most
prevalent deformities in the foot resulting in approximately
700,000 surgical repairs per year in the U.S.3
In addition to the Hammertoe PEEK Fixation
System, the LapiTome™ and RazorTome™
Osteotomes are two new sterile, single-use
instruments that are designed to facilitate more efficient removal
and release of bone slices and soft tissues in Lapiplasty® and
Adductoplasty® cases. These new devices expand the Company’s
current offering of SpeedRelease™ and TriTome™ sterile instruments,
which were commercialized last year.
“In addition to the large and underpenetrated
market for treating bunions, these new technologies are expected to
meaningfully expand our addressable market opportunity to include
additional procedures that complement our proprietary Lapiplasty®
and Adductoplasty® procedures,” said John T. Treace, CEO, Founder
and Board Member of Treace. “We are also looking forward to the
upcoming full market launch of our second-generation SpeedPlate™
fixation platform in the fourth quarter, which will feature a
portfolio of compressing anatomic implants, complemented by
Micro-Lapiplasty® minimally invasive instrumentation. Once fully
available, these new product introductions are expected to begin
contributing to our growth profile in the fourth quarter with a
more meaningful contribution expected in 2024 and
beyond.”
All of these new product solutions will be on
display at Treace’s exhibit booth (#119) at the upcoming American
Orthopaedic Foot & Ankle Society (AOFAS) Annual Meeting 2023 in
Louisville, Kentucky from September 20-23, 2023.
More information on Treace’s products can be
found at www.lapiplasty.com.
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 expectation that these new technologies
and product introductions will meaningfully expand its addressable
market opportunity and will significantly contribute to its growth
profile in the fourth quarter and beyond. 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, 2022, and any subsequent Quarterly Report on Form 10-Q
or Current Report on Form 8-K. 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.
Internet Posting of
Information
Treace routinely posts information that may be
important to investors in the “Investor Relations” section of its
website at www.treace.com. The Company encourages investors and
potential investors to consult the Treace website regularly for
important information about Treace.
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 65 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 3 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.
Treace expanded its offering with the Adductoplasty® Midfoot
Correction System, designed for reproducible surgical correction of
the midfoot to provide further support to hallux valgus patients.
For more information, please visit www.treace.com.
To learn more about Treace, connect with us on
LinkedIn, Twitter, Facebook and Instagram.
- Treace Medical Concepts data on
file.
- Dong, X. N., et al. (2012). Journal
of Biomechanics, 45(16), 2829–2834.
- iData
Research.
Contacts:
Treace Medical Concepts,
Inc.Julie Dewey, IRCChief Communications & Investor
Relations Officerjddewey@treace.com | 209-613-6945
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