Warsaw's OrthoPediatrics announces closing of $59.8 million IPO

The company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of its common stock.

Founded in 2006, OrthoPediatrics owns and occupies a 13,000-square-foot facility in Warsaw and employs 62 full-time employees.

The company offers 21 surgical systems for treating children with orthopedic conditions, including trauma and deformity, complex spine and anterior cruciate ligament reconstruction procedures.

According to the company, these products are designed to meet the unique needs of children, including features that protect a child’s growth plates and ease implant removal. These needs have been largely unmet by the orthopedics industry, the company said in its prospectus.

“Historically, there have been a limited number of implants and instruments, specifically designed for the unique needs of children. As a result, pediatric orthopedic surgeons often improvise with adult implants repurposed for use in children, resort to freehand techniques with adult instruments and use implants that can be difficult to remove after being temporarily implanted. These improvisations may lead to undue surgical trauma and morbidity,” the company said in its prospectus.

For the six months ended June 30, the company’s revenue was $21.6 million, and its net loss was $2.6 million.

OrthoPediatrics estimates that the portion of the orthopedics market that it serves represents a $2.5 billion opportunity globally, including more than $1.1 billion in the United States.