Healthcare Industry News: Alphatec Holdings
News Release - April 12, 2007
Alphatec Holdings, Inc. Licenses Technology Focused On Minimally Invasive Spinal Surgery MarketCARLSBAD, Calif., April 12, 2007 (Healthcare Sales & Marketing Network) -- Alphatec Holdings, Inc. (NasdaqGM:ATEC ), a leading medical device company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, announced today that it has entered into a license agreement with Roger P. Jackson, M.D. for the global rights to use certain minimally invasive surgical rod insertion/reduction tools, technology and techniques designed by Dr. Jackson. Alphatec also licensed proprietary methodologies to which Dr. Jackson has proprietary rights. The non-exclusive license focusing on minimally invasive surgery tools, technology and techniques pertains to United States Patent No. 5,720,751 and United States Patent No. 7,160,300. Terms of the agreement, which were not disclosed, include royalties on net sales of products incorporating the licensed technology.
``The agreement further positions Alphatec's to meet the needs of the spinal disorder marketplace and our surgeon customers by bringing to market leading minimally invasive products and methodologies,'' stated M. Ross Simmonds, Senior Vice President and Chief Operating Officer of Alphatec. Simmonds added, ``This global license agreement is one more example of our commitment to providing solutions targeted at serving the needs of the spinal disorder marketplace and enabling our surgeon customers to have additional technology options while utilizing Alphatec as their trusted spinal medical device partner.''
``I am very pleased to have entered into a license agreement with Alphatec Spine, a recognized leader in the development, manufacture, and marketing of products for the surgical treatment of spine disorders,'' said Dr. Jackson. ``Alphatec's focus on meeting the diverse needs of their spinal surgeon customers and ultimately improved patient outcomes makes them an ideal company to capitalize on this technology.''
Alphatec is a medical device company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders. As of December 31, 2006, Alphatec had 18 issued U.S. patents, one issued foreign patent and 24 pending patent applications, including sixteen pending U.S. applications, four pending international applications and four pending foreign national applications. Alphatec's principal product offerings are primarily focused on the U.S. spine fusion market, which is estimated to approach $4 billion in 2007, through its wholly-owned subsidiary, Alphatec Spine, Inc., and include a variety of spinal implant products and systems comprised of components such as spine screws, spinal spacers, and plates that offer multiple solutions to address patients' needs. In addition to Alphatec's U.S. presence, it also participates in the Japanese spine disorder and orthopedic trauma markets through its subsidiary, Alphatec Pacific, Inc. Alphatec's mission is to be a values based leader in the spinal device market by providing unmatched service to and taking scientific direction from its surgeon customers. Alphatec does so through its unique in-house manufacturing facility in Carlsbad, California that allows it to respond quickly to surgeon needs and to customize innovative products needed for spine fusion surgery.
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This press release may contain forward-looking statements 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 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, including, but not limited to, the following: Alphatec's ability to maintain its level of previously reported sales growth, Alphatec's ability to develop and expand its spine fusion business in the United States and Japan, Alphatec's ability to manufacture minimally invasive spinal fusion system, via the license agreement with Dr. Jackson or otherwise, Alphatec's ability to expand and maintain a successful sales and marketing organization, continuation of favorable third party payor reimbursement for procedures performed using our products, unanticipated expenses or liabilities or other adverse events affecting cash flow or Alphatec's ability to achieve profitability, uncertainty of additional funding, uncertainty of success in developing any new products, failure to successfully introduce and develop new products, including products related to license agreements, failure to obtain FDA clearance or approval for particular devices, including its second-generation polyaxial pedicle screw, Alphatec's ability to compete with other competing products and with emerging new technologies within and outside of spinal fusion, product liability exposure, patent infringement claims and claims related to our intellectual property. Please refer to the risks detailed in Alphatec's Form S-1 on file with the SEC, as well as the risks detailed from time to time in Alphatec's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K. We disclaim 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.
Source: Alphatec Holdings
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