Treace Medical Concepts, which makes a medical device system for the treatment of bunions, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Treace Medical Concepts is a commercial-stage orthopedic medical device company targeting the surgical treatment of bunions. The company's proprietary Lapiplasty 3D Bunion Correction System is a combination of novel instruments, implants, and surgical methods designed to improve the traditional approaches to bunion surgery. More than 25,000 Lapiplasty Procedures have been performed in the US since 2015, when the Lapiplasty System received 510(k) clearance.
The Ponte Vedra, FL-based company was founded in 2014 and booked $57 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol TMCI. J.P. Morgan, Morgan Stanley, SVB Leerink, and Stifel are the joint bookrunners on the deal. No pricing terms were disclosed.
