Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) has announced plans to expand its Kosciusko County headquarters. The medical device manufacturer says it will invest $1 million to double the size of its existing warehouse and adding office space and dedicated training and education facilities.
The company will break ground on the project Thursday. Mark Throdahl, chief executive officer of OrthoPediatrics, says the expansion reflects the company’s continuing growth. He says the company’s revenue has grown by 20 percent or more every year.
"Since our IPO in October 2017, we have been aggressively investing in growth initiatives, including hiring additional associates, tripling the deployment of consigned implant/instrument sets, increasing our investment in R&D, and expanding our clinical education programs," said Throdahl. "With all the exciting opportunities we are pursuing, we have simply outgrown our current building! 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."
Last week, OrthoPediatrics reported record quarterly revenue of $15.1 million, despite hitting a net loss of $2.7 million.