OrthoPediatrics Announces ExpansionOrthoPediatrics announced a $1 million expansion that will double the company’s existing warehouse while renovating to accommodate new office space.
The announcement was celebrated with a gathering in a field behind the company’s office along Ind. 15 on Warsaw’s north side.
Among those attending were employees, Mayor Joe Thallemer and a representative of the Indiana Economic Development Corp.
In its first dozen years, the company has worked to developed a niche serving young people with a growing line of surgical systems.
“Indiana is known as one of the leading hubs for orthopedics, and we are excited to see this trend not only continue but strengthen with the commitment of companies like OrthoPediatrics,” said Elaine Bedel, president of IEDC.
The company has seen revenue grow 20 percent in each of the past 10 years, and reported 28 percent growth in revenue in the last quarter, according to Mark Throdahl, chief executive officer of OrthoPediatrics.
The company announced an initial public offering in October, and has since taken a more aggressive approach in growth initiatives, expanding deployment of implant and instrument sets, and adding more emphasis to research and development.
“With all the exciting opportunities we are pursuing, we have simply outgrown our current building,” Throdahl said.
“The physical expansion of our headquarters reflects OrthoPediatrics’ growth and commitment to our surgeons and their patients so we can continue strengthening our leadership in pediatric orthopedics,” he said.
The company employs about 55 people and continues to add staff as it grows, a company spokesperson said.
OrthoPediatrics Corp. was founded in 2006 and markets 25 surgical systems that serve three of the largest categories within the pediatric orthopedic market. The company’s products are distributed in the United States and 38 other countries.
