Sam Brusco, Associate Editor03.03.22
Pediatric orthopedics firm OrthoPediatrics yesterday released financial results for the fourth quarter and full year 2021 (ended Dec 31). The company generated $24.8 million in Q4, a 31% rise compared to the same period in 2020. Domestic revenue grew 11% and international sales rose 363% in the quarter.
Full year sales of $98 million were up 38% from 2020, with domestic proceeds rising 24% to $77.8 million and international revenue shooting up 150% to $20.3 million.
Trauma and deformity products spurred the growth with $16.5 million in sales in Q4, rising 47% over Q4 2020 due to high PNP femur systems adoption and new cannulated screw and SCFE systems. Sales were slightly offset by increased COVID cancellations in mid to late December. For the full year, trauma and deformity products netted $65.8 million, a 38% increase.
The scoliosis franchise accrued $7.2 million last year, growing 8% mainly due to RESPONSE system’s growth and new user onboarding. Sports medicine/other revenue made up the remaining $4.2 million, rising 57% compared to the prior year thanks to continued strong Telos performance.
“We are extremely proud of our 2021 performance and believe we have navigated through the pandemic very well—which we view as a testament to our durable business and strong commercial execution,” OrthoPediatrics president and CEO David Bailey, who began leading the company in June 2021, told the press. “Given COVID’s effect on children since September, we enter 2022 knowing the unshakable truth that there are more children who need our products than ever before. With the broadest product portfolio in the industry and our largest active surgeon base since inception, we are in a great position to recapture deferred procedures and help children in 2022 and beyond.”
The company helped an estimated record 38,000 children in 2021, bringing its total to over 234,000 since OrthoPediatrics’ inception.
Full year sales of $98 million were up 38% from 2020, with domestic proceeds rising 24% to $77.8 million and international revenue shooting up 150% to $20.3 million.
Trauma and deformity products spurred the growth with $16.5 million in sales in Q4, rising 47% over Q4 2020 due to high PNP femur systems adoption and new cannulated screw and SCFE systems. Sales were slightly offset by increased COVID cancellations in mid to late December. For the full year, trauma and deformity products netted $65.8 million, a 38% increase.
The scoliosis franchise accrued $7.2 million last year, growing 8% mainly due to RESPONSE system’s growth and new user onboarding. Sports medicine/other revenue made up the remaining $4.2 million, rising 57% compared to the prior year thanks to continued strong Telos performance.
“We are extremely proud of our 2021 performance and believe we have navigated through the pandemic very well—which we view as a testament to our durable business and strong commercial execution,” OrthoPediatrics president and CEO David Bailey, who began leading the company in June 2021, told the press. “Given COVID’s effect on children since September, we enter 2022 knowing the unshakable truth that there are more children who need our products than ever before. With the broadest product portfolio in the industry and our largest active surgeon base since inception, we are in a great position to recapture deferred procedures and help children in 2022 and beyond.”
The company helped an estimated record 38,000 children in 2021, bringing its total to over 234,000 since OrthoPediatrics’ inception.
