Alphatec Spine Signs New Exclusive Supply Agreement for an Anchored, Zero-Profile Anterior Cervical Interbody Device
23 Octobre 2012 - 1:40PM
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of
Alphatec Spine, Inc., announced today that the Company has signed a
new supply agreement that provides the Company with exclusive
worldwide rights to market, sell and distribute an anchored,
zero-profile anterior cervical interbody device.
The device's 510(K) application is currently under review by the
U.S. Food and Drug Administration (FDA) for market clearance.
Pursuant to the agreement, Alphatec Spine will pay an upfront fee
over the next 12 months and has agreed to certain minimum purchase
commitments. The market for cervical interbody devices is estimated
to be $465 million. The anchored interbody device market is the
fastest growing segment of the cervical interbody market and is
estimated to currently be approximately $47 million.
"I am pleased to announce this new supply agreement. While we
compete in the cervical interbody market with certain of our Novel
PEEK spacers and structural allograft products, the addition of an
anchored, zero-profile cervical interbody device will add depth to
our cervical portfolio with surgeons who have adopted this
technology," said Les Cross, Chairman and CEO of Alphatec
Spine.
"When I became CEO of Alphatec Spine earlier this year, I laid
out a clear strategy to strengthen the sales and profitability of
the organization. We have focused on streamlining our internal
operations to strengthen margins and shorten the cycle time for
developing and commercializing new products. I also recognized
Alphatec's need to simultaneously scale our business through
acquisitions of companies and new products to further accelerate
top-line growth. While it has been my ongoing expectation that it
will take time to yield meaningful and positive impacts to our
revenue growth, we are building a new and stronger foundation that
should strengthen future revenue growth and lower our cost
structure through decreased manufacturing and operating costs to
enhance our margins."
About Alphatec Spine
Alphatec Spine, Inc. is a wholly owned subsidiary of Alphatec
Holdings, Inc. (Nasdaq:ATEC). Alphatec Spine is a medical device
company that designs, develops, manufactures and markets products
for the surgical treatment of spine disorders, primarily focused on
the aging spine. The Company's mission is to combine world-class
customer service with innovative, surgeon-driven products that will
help improve the aging patient's quality of life. The Company is
poised to achieve its goal through new solutions for patients with
osteoporosis, stenosis and other aging spine deformities, improved
minimally invasive products and techniques and integrated biologics
solutions. In addition to its U.S. operations, the Company
also markets its products in over 50 international markets through
its affiliate, Scient'x S.A.S., via a direct sales force in France,
Italy and the United Kingdom and via independent distributors in
the rest of Europe, the Middle East and Africa. In Latin America,
the Company conducts its business through its subsidiary, Cibramed
Produtos Medicos. In Japan, the Company markets its products
through its subsidiary, Alphatec Pacific, Inc. In the rest of Asia
and Australia, the Company sells its and Scient'x's products
through its and Scient'x's distributors.
The Alphatec Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3520
Forward Looking Statements
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995 that involve risks and uncertainty. Such statements are
based on management's current expectations and are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Alphatec Spine cautions investors that there can be no
assurance that actual results or business conditions will not
differ materially from those projected or suggested in such
forward-looking statements as a result of various factors. Forward
looking statements include references to the Company's strategy to
increase revenues and decrease costs; the ability of the new
anchored interbody device to receive FDA market clearance; and
references to the sizes of the interbody and anchored interbody
markets. The words "believe," "will," "should," "expect," "intend,"
"estimate" and "anticipate," variations of such words and similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not a forward-looking
statement. The important factors that could cause actual
operating results to differ significantly from those expressed or
implied by such forward-looking statements include, but are not
limited to; the uncertainty of success in licensing or developing
and commercializing new products or products currently in Alphatec
Spine's pipeline; failure to achieve acceptance of Alphatec Spine's
products by the surgeon community, including the new anchored
interbody device; failure to successfully implement streamlining
activities to create anticipated operational savings; failure to
successfully begin in-house manufacturing of certain products;
failure to obtain FDA clearance or approval for new products,
including the new anchored interbody device, or unexpected or
prolonged delays in the process; Alphatec Spine's ability to
develop and expand its U.S. and/or global revenues; continuation of
favorable third party payor reimbursement for procedures performed
using Alphatec Spine's products; unanticipated expenses or
liabilities or other adverse events affecting cash flow or Alphatec
Spine's ability to successfully control its costs or achieve
profitability; uncertainty of additional funding; Alphatec Spine's
ability to compete with other competing products and with emerging
new technologies; product liability exposure; failure to meet all
financial obligations in the Cross Medical Settlement or its credit
agreement; patent infringement claims and claims related to
Alphatec Spine's intellectual property or products sold by Alphatec
Spine. Please refer to the risks detailed from time to time in
Alphatec Spine's SEC reports, including its Annual Report Form 10-K
for the year ended December 31, 2011, filed on March 5, 2012 with
the Securities and Exchange Commission, as well as other filings on
Form 10-Q and periodic filings on Form 8-K. Alphatec Spine
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
CONTACT: Mark Francois
Senior Director, Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
mfrancois@AlphatecSpine.com
Alphatec (NASDAQ:ATEC)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Alphatec (NASDAQ:ATEC)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024