Treace Medical Concepts, Inc. is a medical technology company that designs, develops, manufactures and markets surgical solutions for the correction of bunions and related midfoot deformities. The company’s core offering is the Lapiplasty 3D Bunion Correction System, which combines instruments, implants and a surgical technique to address the three dimensional nature of the deformity. In addition to Lapiplasty, Treace markets the Adductoplasty Midfoot Correction System, minimally invasive osteotomy systems (Nanoplasty and Percuplasty), the SpeedMTP implant for great toe fusion, the SpeedPlate rapid compression platform, patient specific IntelliGuide instruments and a line of sterile surgical tools. The company states that bunions affect approximately 67 million Americans, of which an estimated 1.1 million are annual surgical candidates representing a total addressable market opportunity of more than five billion dollars. Approximately 450,000 surgical bunion procedures are performed in the United States every year, corresponding to a market greater than two point three billion dollars. Treace was founded with the goal of advancing the standard of care for bunion surgery and has built a portfolio of patented technologies supported by a surgeon advisory board comprising podiatrists and orthopedic foot and ankle specialists.

The company generates revenue primarily from the sale of its surgical instruments, implants and disposable procedure kits to hospitals, ambulatory surgery centers and independent surgical practitioners. Sales are conducted in the United States through a direct employee sales force that is supplemented by independent sales agencies and stocking distributors focused on foot and ankle specialists. In 2025, employee sales representatives generated approximately 80% of total revenue. Treace also offers a line of biologics and wedges such as treace allograft grafts and cortical fiber products, as well as a hammertoe PEEK fixation system. The company invests in surgeon education and training programs, including simulated surgical workshops, technical assistance in the operating room and advanced training for both new and existing surgeon customers. Treace runs a direct to patient outreach program that educates patients on the benefits and risks of its products and provides a Find a Doctor tool on its website.

Within the competitive orthopedic foot and ankle market, Treace positions itself as a specialized innovator focused exclusively on bunion and midfoot correction. It competes with large diversified medical device companies such as Stryker Corporation, Arthrex, Inc., Zimmer Biomet Holdings, Inc., DePuy Synthes (a Johnson & Johnson subsidiary) and other niche players like Paragon 28, Inc. and Nextremity Solutions. Treace differentiates itself through its patented Lapiplasty 3D technology, a growing body of peer reviewed clinical evidence demonstrating low recurrence rates and rapid recovery, and a dedicated surgeon education curriculum that includes hands on workshops and mastery webinars. The company’s intellectual property portfolio includes 95 granted U. S. patents, one exclusively licensed U. S. patent and 39 granted foreign patents as of December 31, 2025. Its strong direct sales force and surgeon support teams aim to increase product utilization per physician over time. Treace also highlights its focus on improving clinical outcomes such as early weight bearing, low nonunion rates and patient reported pain reduction as key competitive strengths.

Treace’s customers consist of orthopedic surgeons, podiatrists and foot and ankle specialists who perform bunion and midfoot procedures, as well as the hospitals and ambulatory surgery centers where those surgeries are conducted. The company does not disclose individual customer names in its filing, but its sales force targets the approximately 8,000 surgical podiatrists and 2,600 orthopedic surgeons with foot and ankle specialization in the United States. Treace supports its customers through clinical education, surgical training and a suite of sterile instruments designed to improve procedural efficiency and outcomes. The firm also provides a patient education website that helps potential surgical candidates locate trained surgeons in their local area. Additionally, the company offers a National Bunion Day initiative to raise awareness and reduce stigma associated with the condition.