ATEC Announces Memphis Distribution Facility
23 Mars 2021 - 2:00PM
Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative
solutions dedicated to revolutionizing the approach to spine
surgery, announced today the intention to lease a 75,000 square
foot facility in Memphis, Tennessee, which will house ATEC’s
primary distribution operations.
The new facility, from which ATEC will
distribute all high-volume, commercially launched products, will
allow for more expedient access to the nearby distribution centers,
and with extended hours of operation, will significantly enhance
the flexibility and predictability of surgical support. ATEC’s
headquarters in Carlsbad, California will continue to serve as the
hub for development and shipment of alpha release
products. ATEC expects to open the new distribution facility
in July 2021, and to aggressively ramp up its Memphis operations
over the ensuing years.
Pat Miles, Chairman and Chief Executive Officer,
asserted, “Revolutionizing the approach to spine surgery also
requires that we evolve the standard by which we serve our
customers. We must remain predictable and efficient as we rapidly
grow. This new distribution facility will not only enable us to
better support surgeries with earlier deliveries and later shipping
cutoffs, its central location will position us to more adeptly meet
the expanding demand for ATEC solutions nationwide. We have already
begun to assemble Memphis leadership with extensive know how and
deep spine experience, and look forward to rapidly building a
highly engaged, talented local team.”
“Memphis has long been a hub for introducing
spinal and medical device innovations that have defined the
state-of-art and improved patient care. This legacy continues as we
welcome ATEC to one of the country’s largest medical device
markets,” said Ted Townsend, Chief Economic Development Officer for
the Greater Memphis Chamber. “The Greater Memphis Chamber is
thankful to the executive team for their discernment and eventual
selection of Memphis to house their U.S. expansion.”
“We are proud to welcome another
California-based company to Tennessee and thank ATEC for selecting
Memphis for its new distribution facility,” said Bob Rolfe,
Commissioner of the Tennessee Department of Economic and Community
Development. “The medical device and healthcare industry is booming
in Tennessee, and since last year we have had more than 2,000 new
jobs committed to this sector. ATEC is in good company with its
decision to locate operations in Memphis.”
“I’m so excited to welcome ATEC to Memphis,”
said Mayor Jim Strickland. “These are good, quality jobs with a
strong company in an innovative industry. I’m looking forward to
working with them as they make Memphis their new home.”
TVA Senior Vice President of Economic
Development, John Bradley, stated, “TVA and Memphis Light Gas and
Water congratulate ATEC on its decision to locate operations in
Memphis. It’s always an exciting day when we can celebrate a
company’s commitment to growth in the communities we serve. We are
proud to partner with EDGE, Greater Memphis Chamber, City of
Memphis, Shelby County and Tennessee Department of Economic and
Community Development to help support companies, like ATEC’s
business success in the Valley.”
About Alphatec Holdings,
Inc.
Alphatec Holdings, Inc. (ATEC), through its
wholly-owned subsidiaries, Alphatec Spine,
Inc. and SafeOp Surgical, Inc., is a medical device
company dedicated to revolutionizing the approach to spine surgery
through clinical distinction. ATEC’s Organic Innovation Machine is
focused on developing new approaches that integrate seamlessly with
the SafeOp Neural InformatiX System to safely and reproducibly
treat spine’s various pathologies and achieve the goals of spine
surgery. ATEC’s vision is to become the Standard Bearer in Spine.
For more information, visit us at www.atecspine.com.
Forward Looking
Statements
This press release contains "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. The Company 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. The words “believe,” “will,” “should,” “expect,” “intend,”
“estimate,” “look forward” 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. A further list and description of these
and other factors, risks and uncertainties can be found in the
Company's most recent annual report, and any subsequent quarterly
and current reports, filed with the Securities and Exchange
Commission. ATEC 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.
Investor/Media Contact:
Tina Jacobsen, CFAInvestor Relations (760)
494-6790 investorrelations@atecspine.com
Company Contact: Jeff Black
Chief Financial Officer investorrelations@atecspine.com
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