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WARSAW, Ind., Oct. 12, 2023 (GLOBE NEWSWIRE) — OrthoPediatrics Corp. (“OrthoPediatrics” or the “Company”) (Nasdaq: KIDS) a company focused exclusively on advancing the field of pediatric orthopedics, has announced a strategic partnership with Children’s National Hospital in Washington, DC under the “Alliance for Pediatric Device Innovation” (APDI), to advice the development and commercialization of medical devices designed for children.
Along with Children’s National, APDI consortium members include Johns Hopkins University, CIMIT at Mass General Brigham, Tufts Medical Center and Medstar Health Research Institute. The Company will serve as APDI’s strategic advisor and role model for device innovators whose primary focus is children. Children’s National and APDI are also partnering with MedTech Color, a collaborative community that is part of FDA’s Center for Devices and Radiological Health, to host competitions and accelerator wraparound services exclusively for medical technology entrepreneurs of African American and Hispanic backgrounds.
The Food and Drug Administration (FDA) has awarded a nearly $7.5 million grant to the APDI. The nonprofit group, which is one of five in the FDA’s Pediatric Device Consortia (PDC) program, will utilize the five-year grant to provide a platform of services, expertise and funding that supports pediatric innovators in bringing medical devices to the market that specifically address the needs of children. New in this cycle, APDI will provide expertise on evidence generation, including the use of real-world evidence (RWE), for pediatric device development.
Pediatric medical device development continues to lag significantly behind that of adults because of a variety of challenges, including complexities in designing devices for growing children, small market size and lack of financial incentives. To address this health inequity, the FDA provides support through the consortia grant program to advance the development of medical devices for children.
APDI is led by program director and principal investigator Kolaleh Eskandanian, Ph.D., M.B.A., vice president and chief innovation officer at Children’s National, and principal investigator Julia Finkel, M.D., pediatric anesthesiologist and director of Pain Medicine Research and Development in the Sheikh Zayed Institute for Pediatric Surgical Innovation. “Children are our future, and they deserve to benefit from the best advancements that medical technology can offer,” Eskandanian says. “Children’s National looks forward to continuing our work as a champion for medical device innovation for children. Working with our distinguished consortium partners, we will build upon our collective strengths to bring more pediatric devices to patient care while minimizing the barriers to device innovation.”
OrthoPediatrics President and CEO, David Bailey commented “We are excited to join the APDI with our partners at Children’s National Hospital and John’s Hopkins University. This coalition of thought-leaders will help us advance all aspects of pediatric medicine for years to come. Since the inception of the company, OP has been focused exclusively on improving healthcare for KIDS, and this will further enable us to reach more patients with devices and treatment options that are designed specifically for them.”
About OrthoPediatrics Corp.
Founded in 2006, OrthoPediatrics is an orthopedic company focused exclusively on advancing the field of pediatric orthopedics. As such it has developed the most comprehensive product offering to the pediatric orthopedic market to improve the lives of children with orthopedic conditions. OrthoPediatrics currently markets 52 surgical systems that serve three of the largest categories within the pediatric orthopedic market. This product offering spans trauma and deformity, scoliosis, and sports medicine/other procedures. OrthoPediatrics’ global sales organization is focused exclusively on pediatric orthopedics and distributes its products in the United States and over 70 countries outside the United States. For more information, please visit www.orthopediatrics.com.
About Children’s National Hospital
Children’s National Hospital, based in Washington, D.C., was established in 1870 to help every child grow up stronger. Today, it is the No. 5 children’s hospital in the nation and ranked in all specialties evaluated by U.S. News & World Report. Children’s National is transforming pediatric medicine for all children. The Children’s National Research & Innovation Campus opened in 2021, a first-of-its-kind pediatric hub dedicated to developing new and better ways to care for kids. Children’s National has been designated three times in a row as a Magnet® hospital, demonstrating the highest standards of nursing and patient care delivery. This pediatric academic health system offers expert care through a convenient, community-based primary care network and specialty care locations in the D.C. metropolitan area, including Maryland and Virginia. Children’s National is home to the Children’s National Research Institute and Sheikh Zayed Institute for Pediatric Surgical Innovation. It is recognized for its expertise and innovation in pediatric care and as a strong voice for children through advocacy at the local, regional and national levels. As a non-profit, Children’s National relies on generous donors to help ensure that every child receives the care they need.
Investor Contact
Philip Trip Taylor
Gilmartin Group
philip@gilmartinir.com
415-937-5406
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