OrthoPeditriacs on March 30 withdrew its 2020 revenue projections that estimated growth within the range of 22 percent to 24 percent.
The company expects its deformity correction and scoliosis businesses to be significantly impacted due to the COVID-19 pandemic. However, it does not anticipate its orthopedic trauma business to suffer a similar hit.
OrthoPediatrics is preparing for a rebound after the coronavirus crisis. "The magnitude of the recovery will be limited only by operating room and surgeon scheduling capacity," according to Mark Throdahl, the company's president and CEO.
In the meantime, the company is accelerating remote sales training on new products such as Orthrex, an external fixation and hexapod system for deformity correction in the upper and lower extremities.
New product development programs have not been impacted by COVID-19 and OrthoPediatrics is continuing discussions for potential acquisition opportunities.
An updated 2020 outlook is set to be released with the company's first quarter earnings report.