ATEC Provides Business Update
28 Septembre 2021 - 3:00PM
Business Wire
Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative
solutions dedicated to revolutionizing the approach to spine
surgery, provided a business update today, ahead of investor
meetings scheduled for the NASS 2021 meeting.
The resurgence of COVID-19 in the U.S. has pressured surgical
procedure volumes in spine and affected hospital operations in the
third quarter of 2021, with the impact persisting into the final
month of the period. While procedure volume is recovering in some
regions, overall, it has been lower than expected. Despite these
impacts, ATEC expects U.S. spine revenue to grow over 25%
year-over-year in the third quarter due to the continued strength
of surgeon adoption and increasing sales force penetration;
however, the Company now expects third quarter U.S. spine revenue
to be down sequentially compared to the second quarter 2021. The
integration of EOS imaging continues to be on track.
Pat Miles, Chairman and Chief Executive Officer, said,
“Throughout the pandemic, ATEC has continued to relentlessly focus
on stewarding better spine surgery through innovation. Our efforts
have been rewarded with growth at rates well in excess of the
overall spine industry, but we are not immune to the unpredictable
market backdrop. We remain committed to setting the standard in
spine surgery, and will continue to confidently navigate this
dynamic environment.”
ATEC will showcase its comprehensive portfolio of innovative
spine solutions and partner with renowned spine surgeons to
demonstrate the clinical utility of the PTP technique and EOS
imaging technology at the 2021 NASS meeting, which will be held at
the Boston Convention and Exhibition Center this week.
About ATEC
ATEC, through its wholly owned subsidiaries, Alphatec Spine,
Inc., EOS imaging S.A. 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 Company’s expanding AlphaInformatiX Platform to
better inform surgery and more safely and reproducibly 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 will not differ materially from those projected or
suggested in such forward-looking statements. Forward-looking
statements include, but are not limited to: references to the
Company’s revenue and growth outlook; planned product launches,
introductions, regulatory submissions or clearances; efforts to
transform sales and distribution channels; and the Company’s
ability to compel surgeon adoption. Important factors that could
cause actual results to differ significantly from those expressed
or implied by such forward-looking statements include, but are not
limited to: uncertainty of success in developing new products or
products currently in the pipeline; uncertainties in the Company’s
ability to execute upon its strategic operating plan; failure to
achieve acceptance of the Company’s products by the surgeon
community; failure to obtain FDA or other regulatory clearance or
approval; continuation of favorable third party reimbursement; the
Company’s ability to compete with other products or with emerging
technologies; product liability exposure; an unsuccessful outcome
in any litigation; claims related to the Company’s intellectual
property; the Company’s ability to meet its financial obligations;
and the impact of the COVID-19 pandemic on the Company and economy.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210928005350/en/
Investor/Media Contact: Tina Jacobsen, CFA Investor
Relations (760) 494-6790 investorrelations@atecspine.com Company
Contact: J. Todd Koning Chief Financial Officer Alphatec
Holdings, Inc. investorrelations@atecspine.com
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