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OrthoPediatrics reported 1Q23 orthopedic sales of $31.6 million, +34.9% compared to the first quarter of 2022.
The company said scoliosis surgeons are increasingly attracted to its portfolio with the inclusion of the RESPONSE fusion system, 7D navigation and ApiFix. In trauma, the return of elective limb deformity procedures offset general market softness.
Orthopedic companies serving adult patients reported a largely normal staffing environment in the first quarter of 2023. OrthoPediatrics, however, said staffing is an ongoing challenge in pediatric hospitals.
“We lost a lot of staff in children’s hospitals that were very specialized, that were extremely well trained and many that have been in the OR for a long time,” said OrthoPediatrics CEO David Bailey. “If you’re going to do a multi-hour scoliosis fusion procedure on a neuromuscular scoliosis patient, that is about as complicated a surgical procedure you’re going to have. When you lose staffing there, it’s pretty difficult to plug someone into that environment and maintain the same level of efficiency.”
The company is cautiously optimistic for the remainder of 2023. It expects full-year sales between $148 million and $151 million, representing growth between 21% and 23% compared to 2022.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $7.1 | $6.0 | $1.1 | 18.2% |
| Trauma | $23.4 | $16.5 | $6.9 | 41.7% |
| Sports Medicine | $1.1 | $0.9 | $0.2 | 22.1% |
| Total | $31.6 | $23.4 | $8.2 | 34.9% |
Orthopedic Sales by Geography
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $23.8 | $18.2 | $5.6 | 30.9% |
| OUS | $7.8 | $5.2 | $2.6 | 48.9% |
| Total | $31.6 | $23.4 | $8.2 | 34.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $31.6 | |
| Cost of Sales | $8.0 | 25.4% |
| General and Admin | $12.2 | 38.7% |
| Selling and Marketing | $17.7 | 55.9% |
| R & D | $2.3 | 7.2% |
| Other | ($1.8) | 5.7% |
| Net Earnings | ($6.8) | (21.5%) |
OrthoPediatrics reported 1Q23 orthopedic sales of $31.6 million, +34.9% compared to the first quarter of 2022.
The company said scoliosis surgeons are increasingly attracted to its portfolio with the inclusion of the RESPONSE fusion system, 7D navigation and ApiFix. In trauma, the return of elective limb deformity procedures offset general...
OrthoPediatrics reported 1Q23 orthopedic sales of $31.6 million, +34.9% compared to the first quarter of 2022.
The company said scoliosis surgeons are increasingly attracted to its portfolio with the inclusion of the RESPONSE fusion system, 7D navigation and ApiFix. In trauma, the return of elective limb deformity procedures offset general market softness.
Orthopedic companies serving adult patients reported a largely normal staffing environment in the first quarter of 2023. OrthoPediatrics, however, said staffing is an ongoing challenge in pediatric hospitals.
“We lost a lot of staff in children’s hospitals that were very specialized, that were extremely well trained and many that have been in the OR for a long time,” said OrthoPediatrics CEO David Bailey. “If you’re going to do a multi-hour scoliosis fusion procedure on a neuromuscular scoliosis patient, that is about as complicated a surgical procedure you’re going to have. When you lose staffing there, it’s pretty difficult to plug someone into that environment and maintain the same level of efficiency.”
The company is cautiously optimistic for the remainder of 2023. It expects full-year sales between $148 million and $151 million, representing growth between 21% and 23% compared to 2022.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. We estimate orthopedic sales and growth on an as-reported basis.
Orthopedic Sales by Segment
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $7.1 | $6.0 | $1.1 | 18.2% |
| Trauma | $23.4 | $16.5 | $6.9 | 41.7% |
| Sports Medicine | $1.1 | $0.9 | $0.2 | 22.1% |
| Total | $31.6 | $23.4 | $8.2 | 34.9% |
Orthopedic Sales by Geography
| 1Q23 | 1Q22 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $23.8 | $18.2 | $5.6 | 30.9% |
| OUS | $7.8 | $5.2 | $2.6 | 48.9% |
| Total | $31.6 | $23.4 | $8.2 | 34.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $31.6 | |
| Cost of Sales | $8.0 | 25.4% |
| General and Admin | $12.2 | 38.7% |
| Selling and Marketing | $17.7 | 55.9% |
| R & D | $2.3 | 7.2% |
| Other | ($1.8) | 5.7% |
| Net Earnings | ($6.8) | (21.5%) |
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
