Healthcare Industry News: Alphatec Holdings
News Release - July 18, 2011
Alphatec Spine, Inc. Receives Japanese Regulatory Shonin Approval for Illico SE(TM) Posterior Fixation Percutaneous Screw System for Minimally Invasive SurgeryCARLSBAD, Calif., July 18, 2011 -- (Healthcare Sales & Marketing Network) -- Alphatec Holdings, Inc. (Nasdaq:ATEC ), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, today announces the Japanese launch of its Illico SE Posterior Fixation Percutaneous Screw System for minimally invasive surgery. The company recently received Shonin approval and will launch the system through its wholly owned subsidiary, Alphatec Pacific, and their respective distributors.
It is estimated that by 2020, close to 50% of Japan's population will be over the age of 50 and this trend will continue to drive the need for better spinal implant and instrumentation technology. The Japanese spine market is estimated to be over $400 million US dollars, with a significant trend towards surgeons performing minimally invasive procedures.
"The launch of the Illico SE system, which has seen rapid adoption worldwide, will allow us to continue our aggressive growth in Japan as we drive to our goal of being in the top three from a revenue perspective in that market. Japan is the second-largest spine market globally, and Alphatec Pacific is well-positioned with a direct sales organization and strong product line. We have been particularly pleased with our ability to grow our market and consistently launch new technologies. We estimate our current market share at over 5% and to be number four in the market," said Dirk Kuyper, Alphatec Spine's President and CEO.
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 design 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 subsidiary, Scient'x S.A.S., via a direct salesforce in France, Italy and the United Kingdom and via independent distributors in the rest of Europe, the Middle East and Africa, South America and Latin America. In Asia and Australia, the Company markets its products through its subsidiary, Alphatec Pacific, Inc., and through Scient'x's distributors in China, Korea and Australia.
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. These forward-looking statements include, but are not limited to: Alphatec Spine's ability to accelerate new product momentum, bring to market differentiated products and commercialize its product pipeline. 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, including, but not limited to, the following: Alphatec Spine's ability to meet its financial guidance, the growth rate of the spine market related to aging and elderly patients, uncertainty of success in developing new products or products currently in Alphatec Spine's pipeline and those products that are intended to treat disorders prevalent in aging patients, failure to achieve acceptance of Alphatec Spine's products, including the acceptance of the Illico SE System in Japan, by the surgeon community, failure to obtain or maintain FDA clearance or approval for new products, or unexpected or prolonged delays in the process, Alphatec Spine's ability to develop and expand its business in the United States, Asia and Europe, 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, patent infringement claims and claims related to Alphatec Spine's intellectual property. Please refer to the risks detailed from time to time in Alphatec Spine's SEC reports, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-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.
Source: Alphatec Holdings
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