Alphatec Spine Announces Management Realignment to Prepare Company for Next Phase of Global Growth
28 Februar 2012 - 10:02PM
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 announced that it has realigned
the leadership roles of Dirk Kuyper and Les Cross.
Mr. Kuyper, formerly President and Chief Executive Officer, will
assume the role of President, Global Commercial Operations and will
remain a member of the Board of Directors. Les Cross, formerly
Non-Executive Chairman of the Board, will assume the role of
Chairman and Chief Executive Officer. The realignment is designed
to enhance Alphatec Spine's future revenue growth and operating
excellence.
"The realignment capitalizes on both Dirk's and my strengths,"
said Les Cross. "The spine market today is highly competitive, with
pressure on pricing and reimbursement and changing distribution
models. Having Dirk focused on Alphatec Spine's global commercial
strategy ensures our sales productivity initiatives will receive
the high focus they deserve, without the competing priorities from
our initiatives related to our achievement of operational
excellence. Dirk will continue to have global Sales and Marketing,
Corporate Accounts and Medical Education reporting into him to
assure that Alphatec Spine's new product innovation is a market
driven strategy.
Mr. Cross continued, "Simultaneous with global sales growth,
Alphatec Spine is transforming its operations today to ensure that
our profitability and cash flow goals are met. The realignment will
allow me to focus on the Alphatec Spine's operating fundamentals,
including the many initiatives we have underway to drive global
manufacturing efficiency and to streamline our cost structure. We
have made good progress in the past few months, but we have much
more to accomplish. In this new role, in addition to Dirk Kuyper in
Global Commercial Operations, I will have Operations, which
includes Manufacturing, Research and Development, Quality,
Regulatory and Clinical, Finance, Legal and Human Resources
reporting to me."
"I believe Alphatec Spine is well served by these changes and I
am very pleased to have Les assume the key executive leadership
role in the Company," said Dirk Kuyper. "Les is highly regarded in
the orthopedics industry and his track record of driving operating
efficiencies has consistently delivered profitability and positive
cash flow, and ultimately shareholder value. I am personally
looking forward to working with Les as we continue to strengthen
Alphatec Spine's position in the spine market in 2012."
Mr. Cross finished by saying, "I am pleased that Alphatec Spine
has a new team of senior leaders that have been brought on board
over the past year to add critical depth across all functions of
the organization including Operations, Finance, Quality, Regulatory
and Clinical, Marketing and Human Resources, all with global and
public company experience. Both Dirk and I believe that the
realignment of responsibilities, coupled with the experience of our
new senior leadership team, provides the Company with the global
skill set necessary to transform Alphatec Spine into a global
leader in spine."
In a separate announcement today, Alphatec Spine released its
fourth quarter and full year 2011 financial results.
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. 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. Forward
looking statements include references to Alphatec Spine's ability
to achieve its (i) 2012 revenue, profitability and cash flow goals,
(ii) initiatives to drive manufacturing efficiencies, and (iii)
2012 cost structure improvements. The words "believe," "will,"
"should," "expect," "intend," "estimate" 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. The important
factors that could cause actual operating results to differ
significantly from those expressed or implied by such
forward-looking statements include, but are not limited to; the
uncertainty of success in developing new products or products
currently in Alphatec Spine's pipeline; the successful global
launch of the Company's new products and the products in its
development pipeline; failure to achieve acceptance of Alphatec
Spine's products by the surgeon community; failure to obtain FDA
clearance or approval for new products, or unexpected or prolonged
delays in the process; Alphatec Spine's ability to develop and
expand its US and/or global revenues; 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.
The Alphatec Holdings, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3520
CONTACT: Investor/Media Contact:
Mark Francois
Senior Director, Investor Relations
Alphatec Spine, Inc.
(760) 494-6610
mfrancois@alphatecspine.com
Alphatec (NASDAQ:ATEC)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Alphatec (NASDAQ:ATEC)
Historical Stock Chart
Von Jul 2023 bis Jul 2024