OrthoPediatrics Files to Raise $57.5MM in an IPO

By Julie A. Vetalice

OrthoPediatrics publicly filed an amendment to its Form S-1, indicating plans to raise US $57.5MM in a proposed initial public offering (IPO) of its common stock. This is a reduction from previous terms, which disclosed a planned raise of ~$75.0MM.

Net proceeds will be used to pay dividends on Series B Preferred Stock, invest in implant/instrument sets, support R&D, expand sales and marketing, etc. A portion may be used to acquire or invest in complementary technologies.

OrthoPediatrics posted 2016 revenue of $37.2MM, a +20.3% increase vs. $31.0MM in 2015. The company is focused exclusively on products to serve the pediatric orthopaedic market, and in 2017 alone has launched PediFrag clavicle plates and a Distal Femoral Osteotomy system.

As noted in the original IPO announcement, the company plans to list on NASDAQ as KIDS.

Sources: OrthoPediatrics Corp.; Form S-1/A, SEC.gov; ORTHOWORLD Inc.

Tags: Funding