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Quarterly loss widens for OrthoPediatrics

OrthoPediatrics Corp. is a Warsaw-based company which specializes in orthopedic devices for children.

WARSAW, Ind. (Inside INdiana Business) – Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) is reporting a second quarter net loss of $9.4 million, compared to a loss of $2.6 million during the same period last year. Chief Executive Officer Mark Throdahl says the drop is due mainly to the COVID-19 pandemic and economy.

Despite the overall decline, Throdahl says it saw “significant and consistent monthly improvement throughout the period.”

“We also continue executing across all our key initiatives. These include the acquisition of ApiFix and the domestic launch of its game-changing technology for treating scoliosis, record conversion of new Orthex customers, new product development, regulatory compliance advancements, set consignments, and clinical education support. We maintained our Double Diamond sponsorship of pediatric surgical societies in the U.S. and Europe, when others reduced or eliminated their contributions entirely, which has attracted extensive surgeon notice,” said Throdahl.

You can view the full earnings report by clicking here.