The pandemic challenges Warsaw-based OrthoPediatrics Corp.
WARSAW, Ind. (Inside INdiana Business) — OrthoPediatrics Corp. (Nasdaq: KIDS), which is one of several orthopedic manufacturers in Kosciusko County, says it felt the impact of patients, surgeons and health systems postponing non-emergency surgeries because of the pandemic. The orthopedics device maker is reporting a full-year net loss of $32.9 million, compared to a loss of $12.7 million the previous year.
“Elective surgery volumes declined globally but staged a gradual recovery throughout the year,” said Mark Throdahl, chief executive officer of OrthoPediatrics. “Despite COVID-19, in 2020 we continued the systematic execution of our growth initiatives both domestically and internationally. “
The company also reported a fourth-quarter loss of $14 million, compared to a loss of $12.7 million during the same period a year earlier.
Throdahl says during Q4 domestic business grew 26% and international agencies grew 51%, which gives him optimism for the remainder of the year.
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