TREACE MEDICAL CONCEPTS Business Summary

Treace Medical Concepts, Inc. (TMCI) is a commercial-stage medical technology company that generates revenue through the sale of its proprietary Lapiplasty® 3D Bunion Correction and Adductoplasty® Midfoot Correction systems. Operating under a "razor-razorblade" model, the company sells single-use instrument kits alongside a recurring volume of titanium implants and biologics to hospitals and ambulatory surgery centers (ASCs). As of February 2026, TMCI operates in a single business segment focused on the foot and ankle surgical market, specifically targeting the 1.1 million annual U.S. bunion surgical candidates. The company competes directly with Stryker (Wright Medical), Paragon 28, and Arthrex, maintaining its position as the dominant pure-play innovator in 3D deformity correction with a surgeon base of approximately 3,337 active users and a 7.8% share of the total U.S. bunion market. The company was founded in 2014 by John T. Treace, who serves as CEO and Chairman of the Board and brings over 25 years of orthopedic experience, including a senior leadership role at Wright Medical Group. The executive team includes Chief Financial Officer Mark L. Hair, Chief Commercial Officer Guy Guglielmino, and Chief Legal & Compliance Officer Scot Elder, many of whom share a professional pedigree from Wright Medical or other major med-tech firms. TMCI is supported by a board of directors that includes industry veterans such as John K. Bakewell and Jane E. Kiernan. In late 2025, the company strengthened its financial position by securing a $175 million senior secured loan with SLR Capital Partners, providing the capital necessary to navigate current market headwinds and drive its expansion into the high-volume minimally invasive (MIS) and percutaneous bunion correction segments.