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OrthoPediatrics Corp. develops and commercializes medical devices for pediatric orthopedics, with products used in trauma and deformity, scoliosis, sports medicine and related procedures. Company news commonly covers quarterly financial results, revenue by product category, domestic and international sales trends, cash-flow metrics and updates to financial guidance.
Recurring product and market updates include specialty bracing, spine and deformity correction systems, implants, instruments and enabling technologies for pediatric care. Announcements also include investor conference participation and portfolio additions such as hospital-based traction systems and other products aimed at children with orthopedic conditions.
OrthoPediatrics Corp. (NASDAQ: KIDS) is expanding its pediatric orthopedic product offerings in Australia and New Zealand. Recently launched products include the Pediatric Nailing Platform, Response 4.5/5.0 Spine System, and the innovative Orthex system. Orthex features a hexapod design for deformity correction, with unique telescoping struts for precision and reduced inventory needs. The accompanying Point & Click Software simplifies the surgical process. Dr. Leo Donnan from the Royal Children's Hospital praised the Orthex system, expecting it to become a leading device in reconstructive surgery.
OrthoPediatrics Corp. (NASDAQ: KIDS) has successfully registered 14 new products in Canada over the past year, including innovative Trauma & Deformity Correction products and the RESPONSE Scoliosis system. The RESPONSE system features advanced instrumentation and implant technology for pediatric spinal deformities. Additionally, the ApiFix system is expanding its clinical use in Canada, receiving positive feedback from surgeons for its effectiveness in treating adolescent idiopathic scoliosis. OrthoPediatrics specializes exclusively in pediatric orthopedic solutions, with a comprehensive product range across multiple categories.
OrthoPediatrics Corp. (Nasdaq: KIDS) has expanded its agent network in Germany, Austria, and Switzerland, transitioning from distributor partners to a direct sales agency model. This strategy allows the company to directly bill hospitals, relieving distributors of capital investment burdens and enhancing growth potential in these markets. With this change, the number of countries using the agency model has increased from 8 to 11, contributing significantly to international sales growth in 2020. The company plans to expand its product offerings, including new technologies, to improve pediatric orthopedic care.
OrthoPediatrics (Nasdaq: KIDS) announced its preliminary unaudited revenue for the fourth quarter and full year ended December 31, 2020. Fourth quarter revenue is projected at $21.7 million, a 14% increase from $19.0 million in Q4 2019. Domestic revenue grew by 26%, but international revenue declined by 21%. For the full year, revenue is expected to reach $73.8 million, marking a 2% growth overall. Domestic revenue increased by 14%, while international revenue saw a significant decline of 38%. The company plans to disclose detailed results in early March 2021.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced the 510(k) approval and limited U.S. launch of its sterile-packed implants for the Pediatric Nailing Platform | FEMUR (PNP|FEMUR). This system addresses various femur fractures in pediatric patients and has been used to treat over 1,000 children since its 2018 launch. The new sterile nails enhance patient safety and streamline hospital processes, reducing costs. Joe Hauser, VP of Trauma & Deformity Correction, emphasized the commitment to improving operational efficiency and customer value.
OrthoPediatrics Corp. (Nasdaq:KIDS) announced participation in the 23rd Annual Needham Virtual Growth Conference on January 13, 2021. CEO Mark Throdahl, COO Fred Hite, and President Dave Bailey will present at 3:30 PM ET, with audio available on their investor relations site. This conference is an opportunity for investors to engage in one-on-one meetings with management. Established in 2006, OrthoPediatrics focuses on pediatric orthopedic advancements with 35 surgical systems across trauma, scoliosis, and sports medicine categories.
OrthoPediatrics Corp. (NASDAQ: KIDS) announced the first surgery in the UK utilizing its new Pediatric Nailing Platform | FEMUR (PNP|FEMUR), aimed at pediatric patients with femoral fractures or deformities. Launched in the US in 2018, the system has now expanded to the UK market. Conducted at Sheffield Children's Hospital, the first case was praised for its advanced and versatile design, aiding complex surgical procedures. OrthoPediatrics continues to innovate in pediatric orthopedics, following extensive feedback from over 6,000 global surgeries.
OrthoPediatrics Corp. (KIDS) announced its entry into the U.K. market with the launch of two advanced surgical systems. The Pediatric Nailing Platform | FEMUR received U.K. regulatory clearance, offering specialized solutions for pediatric femoral fractures. Additionally, the ApiFix system, designed for adolescent idiopathic scoliosis, allows for less invasive procedures and faster recovery times. President Dave Bailey emphasized the company's commitment to global expansion and providing innovative orthopedic solutions specifically for pediatrics.
OrthoPediatrics Corp. (Nasdaq: KIDS) has been honored as the 2020 Corporate Champion of the Year by the World Pediatric Project (WPP). This award recognizes corporations dedicated to improving children's access to critical healthcare. OrthoPediatrics has contributed significantly by providing pediatric implants and financial support, helping over 100 children receive necessary surgeries. CEO Mark Throdahl expressed gratitude for the honor and reiterated the company's commitment to advancing pediatric orthopedic care. The company offers 35 surgical systems across various pediatric orthopedic categories, operating in the U.S. and 43 other countries.
OrthoPediatrics Corp. (Nasdaq: KIDS) reported third-quarter 2020 revenue of $22.2 million, a 7.0% increase from $20.7 million in Q3 2019. U.S. revenue surged 16.7% to $19.6 million, accounting for 88.2% of total revenue. The company also achieved a 167% increase in first-time users for its Orthex product year-to-date. However, international revenue fell 33.8% to $2.6 million. Adjusted EBITDA improved to $1.1 million, up from $0.7 million in the previous year. Overall, the company remains optimistic about maintaining growth despite challenges posed by the COVID-19 pandemic.