Alphatec Announces Departure of CEO
14 Dezember 2006 - 6:00PM
PR Newswire (US)
CARLSBAD, Calif., Dec. 14 /PRNewswire-FirstCall/ -- Alphatec
Holdings, Inc. (NASDAQ:ATEC), a spinal device company, announced
today that Ronald G. Hiscock, President and Chief Executive
Officer, has left the Company. The Company also announced the
departure of Vicky A. Romanoski, Senior Vice President, Chief
Administrative Officer. John H. Foster, Executive Chairman, is
assuming the position of President and Chief Executive Officer.
About Alphatec Alphatec is a medical device company focused on the
design, development, manufacturing and marketing of products for
the surgical treatment of spine disorders. Alphatec's principal
product offerings are primarily focused on the U.S. spine fusion
market, which is estimated to approach $3 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 fusion and orthopedic trauma markets through its subsidiary,
Alphatec Pacific, Inc. Our mission is to be a values-based leader
in the spinal device market by providing unmatched service to and
taking scientific direction from our physicians. We do so through
our unique in-house manufacturing facility in Carlsbad, California
that allows us to respond quickly to surgeon needs and to customize
innovative products needed for spine fusion surgery. Forward
Looking Statements 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 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, 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. 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.
Contacts: Alphatec Holdings, Inc. Noonan Russo Steven Yasbek
Matthew Haines 760.431.9286 x503 212.845.4235 DATASOURCE: Alphatec
Holdings, Inc. CONTACT: Steven Yasbek of Alphatec Holdings, Inc.,
+1-760-431-9286 x503, ; or Matthew Haines of Noonan Russo,
+1-212-845-4235,
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