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) announces continued support for the Scoliosis Research Society (SRS) with Gold Level sponsorship for its 55th Annual Meeting, running virtually from September 9-13. Additionally, the company will be a Platinum Level Sponsor for the American Academy for Cerebral Palsy and Developmental Medicine (AACPDM) 74th Annual Meeting from September 23-26. OrthoPediatrics will offer educational grants and scholarships for physicians attending these events, contributing to discussions and showcasing its products through virtual exhibits.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced participation in the Morgan Stanley 18th Annual Global Healthcare Conference on September 15, 2020. Key executives, including CEO Mark Throdahl and CFO Fred Hite, will engage in a fireside chat and one-on-one meetings starting at 4:15 PM ET. The event will take place virtually, with an audio webcast accessible on the company’s investor relations website. OrthoPediatrics specializes in pediatric orthopedic products, boasting 35 surgical systems for trauma, scoliosis, and sports medicine across 43 countries.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced the completion of its 1,000th surgery using the Pediatric Nailing Platform | FEMUR (PNP | FEMUR), a system designed for pediatric femur fracture treatment. This innovative intramedullary nailing system, which received FDA 510(k) clearance in 2018, addresses specific anatomical needs of children and adolescents. With a comprehensive range of sizes and instrumentation, the PNP system represents OrthoPediatrics' commitment to improving pediatric orthopedic solutions, building on nearly a decade of learning from its original PediNail system.
OrthoPediatrics Corp. (Nasdaq: KIDS) has announced its sponsorship for the virtual 30th Annual Baltimore Limb Deformity Course (BLDC) on August 29-30, 2020. The company will provide scholarships for residents and fellows to access the course. Utilizing its DocMatter and VuMedi platforms, OrthoPediatrics will share educational video content on its innovative Orthex frame, aimed at correcting limb deformities. CEO Mark Throdahl emphasized the importance of BLDC for pediatric surgeons and the effectiveness of virtual interactions in advancing orthopedic care for children.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced participation in the 5th Annual Needham Virtual Med Tech 1x1 Conference. CEO Mark Throdahl, COO Fred Hite, and President Dave Bailey will host virtual investor meetings on August 17, 2020. Interested investors can schedule one-on-one calls by contacting their Needham representative or Emma Poalillo at The Ruth Group.
Founded in 2006, OrthoPediatrics focuses on pediatric orthopedics, offering 35 surgical systems across trauma, scoliosis, and sports medicine categories. The company operates globally, serving the U.S. and 43 countries.
OrthoPediatrics Corp. (Nasdaq: KIDS) reported a 25.3% decline in total revenue for the second quarter of 2020, amounting to $13.6 million, largely due to the effects of the COVID-19 pandemic. U.S. revenue decreased by 12.3% to $12.1 million, while international revenue plummeted 66.8% to $1.4 million. Despite challenges, the company initiated the U.S. launch of the ApiFix system and expanded its sales team by 7.9%. Operating loss increased to ($7.0 million), compared to ($1.8 million) last year, while net loss was ($9.4 million), leading to a net loss per share of ($0.54).
OrthoPediatrics Corp. (Nasdaq: KIDS) has achieved a milestone by completing its 500th case using the FIREFLY® Pedicle Screw Navigation Guides in collaboration with Mighty Oak Medical. This technology enhances surgical efficiency and patient safety by utilizing AI for presurgical planning. It reduces intraoperative radiation and speeds up screw placement, making it a cost-effective alternative to traditional navigation systems. The technology is designed specifically for pediatric orthopedic surgeries, aiming to improve outcomes for children with scoliosis and spinal deformities.
OrthoPediatrics Corp. (NASDAQ: KIDS) will announce its second quarter 2020 financial results on August 5, 2020, post-market. The company focuses on pediatric orthopedics and has developed a wide range of surgical systems, with 35 products catering to trauma, scoliosis, and sports medicine.
A conference call to discuss the results is scheduled for August 6, 2020, at 8:00 a.m. ET, with dial-in options for domestic and international callers. The details are available on the company's investor relations webpage.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced the closing of its underwritten public offering of 1,600,000 shares at a price of $47.00 per share, generating approximately $75.2 million in gross proceeds. The offering was facilitated by Piper Sandler and Stifel as joint book-running managers, with additional support from other firms. The shares were offered under a shelf registration statement effective since March 27, 2020. A final prospectus supplement has been filed with the SEC and is available on their website.
OrthoPediatrics Corp. (Nasdaq: KIDS) announced a public offering of its common stock on June 17, 2020. The offering aims to finance implant and instrument sets for customers, fund research and development, and expand marketing efforts. The underwriters have a 30-day option to purchase additional shares. The offering is contingent on market conditions and is conducted under a registered shelf statement effective since March 27, 2020. Piper Sandler and Stifel are the joint book-running managers. No assurances are provided regarding the offering's completion or terms.